|[November 26, 2012]
Smart Grid Deployments are Driving a Revolution in Utility Customer Information Systems, According to Pike Research
BOULDER, Colo. --(Business Wire)--
The electric utility industry is engaged in a massive buildout of smart
grid infrastructure, but the full benefits of this investment will only
be realized if there is a similar transformation in customer engagement.
Many utilities have realized that they need to dramatically change the
way the way they view and manage customer relationships. According to a
recent report from Pike
Research, a part of Navigant's Energy Practice, the deployment of
smart meters is the key driving force in this revolution, enabling new
consumer services and providing new insight into customer behavior.
As a result, the study concludes, the electric utility billing and
customer information systems (CIS) software and services market will
nearly double in the next 5 years, growing from $2.3 billion in 2011 to
$4.0 billion by 2017.
"Large U.S. investor-owned utilities looking to develop new revenue
streams, European energy retailers working in a deregulated market, and
utilities in the developing world seeking to improve revenue collection
and energy auditing are all taking a new look at their requirements for
billing and CIS," says research director Eric Woods. "This shift
requires utilities to master the product development, marketing, and
customer relationship skills to ensure competitive success. In turn, the
billing and CIS systems underpinning these business processes will have
to step up to the challenge."
Many legacy billing and CIS are technically unsuited for the emerging
smart grid requirements. Another significant factor driving billing and
CIS change will be customer and business process analytics. This
technology will play an important role in guiding utilities in product
development and market execution for the targeted offerings and bundles
that will enable competitive diffrentiation, according to the report.
Today, confusion still exists in the market about how and where to apply
analytics to improve business outcomes, but the market will mature
rapidly as a result of growing commercial pressures.
The report, "Electric
Utility Billing and Customer Information Systems", analyzes the
global market opportunity for utility billing and CIS software and
services. The report also includes a view of the growth of billing and
CIS systems in regulated and deregulated environments. The study
provides a comprehensive assessment of the demand drivers, business
models, and technology issues associated with this rapidly growing
opportunity. Key industry players are profiled in depth and market
forecasts for worldwide electric utility billing and CIS software and
services revenue, segmented by region, are provided through 2017. An
Executive Summary of the report is available for free download on the Pike
About Pike Research (News - Alert)
Pike Research, which joined Navigant's global Energy Practice on July 1,
2012, provides in-depth analysis of global clean technology markets. The
team's research methodology combines supply-side industry analysis,
end-user primary research and demand assessment, and deep examination of
technology trends to provide a comprehensive view of the Smart Energy,
Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings
sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) is a specialized, global expert services firm
dedicated to assisting clients in creating and protecting value in the
face of critical business risks and opportunities. Through senior level
engagement with clients, Navigant professionals combine technical
expertise in Disputes and Investigations, Economics, Financial Advisory
and Management Consulting, with business pragmatism in the highly
regulated Construction, Energy, Financial Services and Healthcare
industries to support clients in addressing their most critical business
needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the
report, "Electric Utility Billing and Customer Information Systems,"
is a summary and reflects Pike Research's current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report's conclusions and the methodologies used to create the report.
Neither Pike Research nor Navigant undertakes any obligation to update
any of the information contained in this press release or the report.
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