Mon. Nov 28th, 2022

The latest research study “Utility Billing Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global utility billing software market size reached a value of US$ 4.61 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 7.73 Billion by 2027 exhibiting a CAGR of 8.60% during 2022-2027.

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Utility billing software (UBS) refers to an advanced system specially designed for tracking the usage of gas, water, and electrical services for invoicing. It reduces the risk of fraudulent activities by assisting in generating invoices, integrating finances, controlling accounts, posting cash, answering customer queries, and examining past-due accounts. It helps power companies enhance accuracy, reduce cost-to-serve, plan marketing campaigns, and improve customer support. In recent years, UBS has gained immense popularity as it aids in meter management, invoice management, and payment processing based on the collected usage data.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Utility Billing Software Market Trends and Drivers:

The global utility billing software market is primarily driven by the increasing need for power distribution companies to enhance operational efficacy at lower costs. Moreover, the shifting consumer inclination toward online bill-paying applications due to the sudden outbreak of coronavirus disease (COVID–19) is another major growth-inducing factor.

Additionally, the emergence of smart meters and smart grid technology to reduce utility power costs, restore power after disturbances, and promote efficient electricity transmission has accelerated the product adoption rate. Besides this, recent technological advancements in legacy billing systems, such as the integration of the Internet of Things (IoT) and cloud computing solutions, to meet the evolving dynamics of the utility sector have catalyzed market growth.

Other factors, including the increasing use of smart devices to support digital payments, the launch of innovative cloud-based electricity billing software, and improving access to high-speed internet, especially in developing countries, are also anticipated to create a favorable market outlook.

Important Attribute and highlights of the Report:

  • Detailed analysis of the market share
  • Market Segmentation
  • Historical, current, and projected size of the market in terms of volume and value
  • Latest industry trends and developments
  • Competitive Landscape
  • Strategies of major players and product offerings

Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/utility-billing-software-market

Important Note: If the link is not clickable please open it in a new tab, you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Global Utility Billing Software Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some Top Companies:

Continental Utility Solutions Inc., ePsolutions Inc., Exceleron Software, Harris Computer (Constellation Software Inc.), Jayhawk Software Inc., Jendev Corporation, Methodia Group, Oracle Corporation, Sigma Software Solutions Inc., SkyBill SIA and Utilibill Pvt. Ltd.

The report has segmented the market on the basis of region, deployment mode, type and end user.

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based

Breakup by Type:

  •  Platform as a Service
  • Infrastructure as a Service
  • Software as a Service

Breakup by End User:

  • Water
  • Power Distribution
  • Oil and Gas
  • Telecommunication
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Services Private Limited.
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