Market Overview:
The global utility billing software market 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 growth rate (CAGR) of 8.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Utility billing software (UBS) refers to a specially designed platform that is deployed for invoicing gas, water, and electricity services. It aids in generating bills, posting cash, resolving user inquiries, integrating finances, managing accounts, and examining delinquent accounts, thus reducing the risks of fraudulent activities. The UBS also assists power companies in improving customer support, enhancing accuracy, reducing cost-to-serve, and strategizing the marketing campaigns. At present, UBS is commercially categorized based on its varying deployment models, such as cloud-based, on-premises, and build-your-own solutions.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Utility Billing Software Market Trends:
The increasing need to enhance the overall operational efficiency at reduced costs is currently facilitating the adoption of UBS solutions across various power distribution companies. In line with this, the sudden outbreak of the COVID-19 pandemic and the consequent implementation of lockdown has led to a shift from conventionally used bill paying methods toward online bill paying applications, which is acting as another major growth-inducing factor. Furthermore, significant improvements in legacy billing systems, such as the integration of cloud computing and the Internet of Things (IoT) solutions, to meet the evolving dynamics of utility industry is contributing to the market growth. The introduction of smart grid technology and smart meters for promoting efficient electricity transmission, reducing the utility power costs, and restoring power after disturbances is propelling the market growth significantly. Other factors, including strategic collaborations between companies to launch more advanced cloud-based electricity billing software, along with the extensive utilization of smartphones, tablets, laptops, and desktops to support digital payments and the increasing accessibility to the high-speed internet, especially in the developing region, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global utility billing software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on deployment mode, type and end user.
Breakup by Deployment Mode:
Breakup by Type:
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- 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:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2021 |
Historical Period |
2016-2021 |
Forecast Period |
2022-2027 |
Units |
US$ Billion |
Segment Coverage |
Deployment Mode, Type, End User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |