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Global Utility Billing Software Market to reach USD XX billion by the end of 2030.

Global Utility Billing Software Market Size Study & Forecast, by Type (Platform as a Service, Infrastructure as a Service, Software as a Service), By Deployment Type (Cloud, On-premises), By Industry Vertical (Water, Power Distribution, Telecommunication, Oil & Gas, Others), and Regional Analysis, 2023-2030

Product Code: ICTEITS-35209440
Publish Date: 10-06-2023
Page: 200

Global Utility Billing Software Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Utility billing software is employed by utilities such as water, power distribution, telecommunication, oil & gas, and others to control the consumer billing procedure. It aids in the customer information, management of utility operations, and billing duties for sewer, water, electric, waste management, gas, and sub-metering firms. Utility billing systems are installed by organizations to improve productivity and profitability through the integration of service orders, meter maintenance history, scheduling, customer management, and billing procedures. The rising focus on improving legacy billing systems and IT infrastructure, growing awareness for energy conservation and demand management, rising inclination towards automated billing systems, and regulatory compliance are the most prominent factors propelling the market demand across the globe.

In addition, the growing focus in smart grid technology development is primarily attributed to the market growth during the estimated period. Smart grid technology encompasses a range of applications and systems; accordingly, utility billing software plays a crucial role in managing and processing the billing data generated by smart grid infrastructure. For instance, as per Statista, in 2018, the smart grid technology sector stood at USD 7.6 billion in North America and USD 5.6 billion in Asia Pacific. Also, the amount is projected to reach USD 16.8 billion in North America and USD 17.9 billion in Asia Pacific by 2023. Thereby, the growing advancements in smart grid technology is driven by the need for efficient data management, demand-side management capabilities, customer engagement, and regulatory compliance facilitated by utility billing software. Moreover, the growing adoption of smart metering infrastructure, as well as the integration of utility billing software with advanced technologies presents various lucrative opportunities over the forecast years. However, the lack of skilled professionals and rising concerns about data security are hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Utility Billing Software Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the availability of highly developed utility infrastructure, regulatory compliance and customer service requirements, and increasing demand for efficient billing processes. Whereas, Asia Pacific is expected to grow with the highest CAGR over the forecast years. The rising focus on adopting the cloud for IT operations by various utility companies, rising investment in smart grid technology, and growing adoption of smart metering infrastructure are significantly propelling the market demand across the region.

Major market players included in this report are:
Harris Computer Systems
PayStand Inc.
Utilibill Pvt. Ltd.
ePsolutions Inc.
Jendev Corporation
Exceleron Softwares Inc.
Jayhawk Software Inc.
Banyon Data Systems Inc.
Sigma Software Solutions Inc.
Oracle Corporation

Recent Developments in the Market:
Ø In October 2022, Exceleron Softwares Inc. declared that the company has enhanced the MyUsage solution in order to support amazon web services and tier -1 private cloud options that MyUsage hybrid cloud offerings provide customers with greater flexibility and scalability; this allows excelerons utility customers to select the hosting option that meets their security and back-office requirements.

Global Utility Billing Software Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Deployment Type, Industry Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Platform as a Service
Infrastructure as a Service
Software as a Service

By Deployment Type:

By Industry Vertical:
Power Distribution
Oil & Gas
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Utility Billing Software Market, by region, 2020-2030 (USD Billion)
1.2.2. Utility Billing Software Market, by Type, 2020-2030 (USD Billion)
1.2.3. Utility Billing Software Market, by Deployment Type, 2020-2030 (USD Billion)
1.2.4. Utility Billing Software Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Utility Billing Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Utility Billing Software Market Dynamics
3.1. Utility Billing Software Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising focus on improving legacy billing systems and IT infrastructure Growing investment in smart grid technology
3.1.2. Market Challenges Lack of skilled professionals among end-user industries Rising concern for data security
3.1.3. Market Opportunities Growing adoption of smart metering infrastructure Integration of utility billing software with advanced technologies
Chapter 4. Global Utility Billing Software Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Utility Billing Software Market, by Type
5.1. Market Snapshot
5.2. Global Utility Billing Software Market by Type, Performance – Potential Analysis
5.3. Global Utility Billing Software Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Utility Billing Software Market, Sub Segment Analysis
5.4.1. Platform as a Service
5.4.2. Infrastructure as a Service
5.4.3. Software as a Service
Chapter 6. Global Utility Billing Software Market, by Deployment Type
6.1. Market Snapshot
6.2. Global Utility Billing Software Market by Deployment Type, Performance – Potential Analysis
6.3. Global Utility Billing Software Market Estimates & Forecasts by Deployment Type 2020-2030 (USD Billion)
6.4. Utility Billing Software Market, Sub Segment Analysis
6.4.1. Cloud
6.4.2. On-premises
Chapter 7. Utility Billing Software Market, by Industry Vertical
7.1. Market Snapshot
7.2. Global Utility Billing Software Market by Industry Vertical, Performance – Potential Analysis
7.3. Global Utility Billing Software Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
7.4. Utility Billing Software Market, Sub Segment Analysis
7.4.1. Water
7.4.2. Power Distribution
7.4.3. Telecommunication
7.4.4. Oil & Gas
7.4.5. Others
Chapter 8. Global Utility Billing Software Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Utility Billing Software Market, Regional Market Snapshot
8.4. North America Utility Billing Software Market
8.4.1. U.S. Utility Billing Software Market Type breakdown estimates & forecasts, 2020-2030 Deployment Type breakdown estimates & forecasts, 2020-2030 Industry Vertical breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Utility Billing Software Market
8.5. Europe Utility Billing Software Market Snapshot
8.5.1. U.K. Utility Billing Software Market
8.5.2. Germany Utility Billing Software Market
8.5.3. France Utility Billing Software Market
8.5.4. Spain Utility Billing Software Market
8.5.5. Italy Utility Billing Software Market
8.5.6. Rest of Europe Utility Billing Software Market
8.6. Asia-Pacific Utility Billing Software Market Snapshot
8.6.1. China Utility Billing Software Market
8.6.2. India Utility Billing Software Market
8.6.3. Japan Utility Billing Software Market
8.6.4. Australia Utility Billing Software Market
8.6.5. South Korea Utility Billing Software Market
8.6.6. Rest of Asia Pacific Utility Billing Software Market
8.7. Latin America Utility Billing Software Market Snapshot
8.7.1. Brazil Utility Billing Software Market
8.7.2. Mexico Utility Billing Software Market
8.8. Middle East & Africa Utility Billing Software Market
8.8.1. Saudi Arabia Utility Billing Software Market
8.8.2. South Africa Utility Billing Software Market
8.8.3. Rest of Middle East & Africa Utility Billing Software Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Harris Computer Systems Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. PayStand Inc.
9.3.3. Utilibill Pvt. Ltd.
9.3.4. ePsolutions Inc.
9.3.5. Jendev Corporation
9.3.6. Exceleron Softwares Inc.
9.3.7. Jayhawk Software Inc.
9.3.8. Banyon Data Systems Inc.
9.3.9. Sigma Software Solutions Inc.
9.3.10. Oracle Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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