Dublin, March 24, 2025 (GLOBE NEWSWIRE) -- The "Utility Billing Software Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The utility billing software market size has grown rapidly in recent years. It will grow from $5.48 billion in 2024 to $6.03 billion in 2025 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to data security and privacy concerns, market competition and consumer demands, utility sector modernization, focus on sustainability, increasing complexity of utility services.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. North America was the largest region in the utility billing software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the utility billing software market during the forecast period.
Key Companies Profiled: Banyon Data Systems Inc.; Oracle Corporation; Cogsdale Corporation; Enghouse Networks Limited; Continental Utility Solutions Inc.
The utility billing software market size is expected to see rapid growth in the next few years. It will grow to $9.3 billion in 2029 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to rise in customer expectations, focus on sustainability and energy efficiency, smart metering and IoT integration, demand for data analytics, transition to cloud-based solutions. Major trends in the forecast period include utility sector modernization, regulatory compliance requirements, cybersecurity measures, emphasis on sustainability and green practices, shift to cloud-based solutions.
The rising deployment and adoption of cloud services are anticipated to drive growth in the utility billing software market. For instance, in April 2024, a report from the European Commission, a Belgium-based government body, indicated that 77.6% of large enterprises utilized cloud computing services in 2023, reflecting a 6-percentage point increase from 2021. In the case of medium-sized enterprises, 59% reported purchasing cloud services in 2023, compared to 53% in 2021. Additionally, among small businesses, the proportion increased by 3.8 percentage points, reaching 41.7% during the same timeframe. Thus, the growing deployment and adoption of cloud services are propelling the growth of the utility billing software market.
The escalating trend towards smart billing is anticipated to contribute significantly to the expansion of the utility billing software market. Notably, in May 2023, according to the Smart Payment Association, a Germany-based trade body specializing in cards and mobile payments, the inclusion of contactless functionality in card shipments increased to 84% in 2022, up from the reported 76% in 2021. This signifies a growing reliance on digital and automated payment methods. As the prevalence of smart billing continues to rise, it is expected to be a key factor driving the growth of the utility billing software market.
The utility billing software market is experiencing a significant trend with technological advancement emerging as a focal point for major companies in the industry. An example of this trend is observed in the actions of Advanced Utility Systems, a Canada-based provider of customer information and billing solutions, which, in May 2022, launched the Infinity Customer Information System (CIS) Browser - a cloud-based platform for customer information and billing. The distinctive feature of Infinity CIS lies in its unparalleled functionality availability, empowering utilities to meet their diverse needs and beyond. This modern, cloud-based platform plays a pivotal role in revolutionizing utilities' field workforce management, customer experience, and service and billing processes. It allows utilities to enhance first-call resolution, provide timely information to customers, support diverse working environments, and more.
Major companies in the utility billing software market are concentrating on introducing advanced and sustainable solutions, particularly cutting-edge billing software. For instance, in November 2023, Aquatera Utilities Inc., a full-service utility corporation based in Canada, introduced 'SpryPoint,' an innovative solution with a range of features and benefits. SpryPoint enables users to set up preferred communication channels, submit requests, receive specialized alerts, and view water usage and consumption data. This exemplifies the industry's commitment to introducing advanced technologies that cater to evolving consumer expectations and enhance overall utility billing processes.
Report Scope
Markets Covered:
1) by Type: Platform as a Service; Infrastructure as a Service; Software as a Service
2) by Deployment Mode: on-Premises; Cloud-Based
3) by End-User: Water; Power Distribution; Oil and Gas; Telecommunication; Other End-Users
Subsegments:
1) by Platform as a Service (PaaS): Application Development Platforms; Integration Platforms; Database Management Platforms
2) by Infrastructure as a Service (IaaS): Virtual Servers; Storage Solutions; Networking Services
3) by Software as a Service (SaaS): Billing and Invoicing Software; Customer Relationship Management (CRM) Software; Analytics and Reporting Tools
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value (USD) in 2025 | $6.03 Billion |
| Forecasted Market Value (USD) by 2029 | $9.3 Billion |
| Compound Annual Growth Rate | 11.4% |
| Regions Covered | Global |
Some of the major companies featured in this Utility Billing Software market report include:
- Banyon Data Systems Inc.
- Oracle Corporation
- Cogsdale Corporation
- Enghouse Networks Limited
- Continental Utility Solutions Inc.
- Link Computer Corporation
- Sigma Software LLC
- Advantage Computer Enterprises Inc. (ACE)
- Harris Computer Systems
- Exceleron Software Inc.
- ePsolutions Inc.
- SilverBlaze Solutions Inc.
- Aclara Technologies LLC
- Advanced Utility Systems Corp.
- Avertra Corp.
- BillMaster Inc.
- Data West Corporation
- Daffron & Associates Inc.
- Dynamic Systems Inc.
- ECI Software Solutions
- EnergyCAP Inc.
- Energyworx Solutions BV
- Ferranti Computer Systems NV
- Gentrack Group Ltd.
- Hansen Technologies Ltd.
- HCL Technologies Ltd.
- Honeywell International Inc.
- International Business Machines Corporation
- Itron Inc.
- Kalkitech Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jdn7lc
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