Market driven by adoption of time-of-use
and other non-traditional rate structures
BOULDER,
Colo., May 14, 2024 /PRNewswire/ -- A new report
from Guidehouse Insights explores the global market for
complex rate analytics, analyzing billing and customer information
systems (CISs), customer relationship management (CRM) systems, and
10 categories of energy analytics applications.
Time-varying pricing is becoming more widespread
and a powerful driver due to the growing perception that it is a
best practice. According to a new report from Guidehouse Insights,
the global market for complex rate analytics is projected to grow
from an estimated $2.3 billion in
2023 to $5.2 billion in 2032, at a
compound annual growth rate (CAGR) of 9.6%.
"Multiple countries, including the US, are seeing
a simultaneous shift toward more complex rate structures that
effectively leverage the benefits of advanced metering
infrastructure to deliver multi-pronged value streams for utilities
and customers alike," says Michael
Kelly, principal research analyst with Guidehouse Insights.
"From peak demand management and distributed energy resource
optimization to energy affordability and customer satisfaction, new
and advanced rate structures offer a logical mechanism for
utilities to address the challenges of today and tomorrow."
While established customer care providers have
enhanced their abilities to bill, model, and manage basic
time-of-use (TOU) and net metering rate structures, significant
gaps remain in legacy systems' ability to support complex rate
design, shadow billing, automated billing, and hyper-personalized
rate coaching and education. Complex rate engines and advanced
disaggregation methods employed for TOU recommendations, DER
program enrollment, and billing support offer a glimpse into new
software capabilities that aim to scale this emerging field of
energy analytics, according to the report.
The report, Complex Rate Analytics,
examines the global marketplace for energy information technology
(IT) and operational technology (OT) software and services. It
outlines the drivers and barriers behind the growing market for
energy IT, OT, and data analytics solutions for five global
markets: North America,
Europe, Asia Pacific, Latin
America, and Middle East
& Africa. It provides details
on market sizing from 2023 through 2032, segmented by global region
and technology segment. An executive summary of the report is
available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse
Insights, the dedicated market intelligence arm of Guidehouse,
provides research, data, and benchmarking services for today's
rapidly changing and highly regulated industries. Our insights are
built on 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, paired with a
deep examination of technology trends, to provide a comprehensive
view of emerging resilient infrastructure systems. Additional
information about Guidehouse Insights can be found at
www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a
leading global provider of consulting services to the public sector
and commercial markets, with broad capabilities in management,
technology, and risk consulting. By combining our public and
private sector expertise, we help clients address their most
complex challenges and navigate significant regulatory pressures
focusing on transformational change, business resiliency, and
technology-driven innovation. Across a range of advisory,
consulting, outsourcing, and digital services, we create scalable,
innovative solutions that help our clients outwit complexity and
position them for future growth and success. The company has more
than 16,000 professionals in over 55 locations globally. Guidehouse
is led by seasoned professionals with proven and diverse expertise
in traditional and emerging technologies, markets, and
agenda-setting issues driving national and global economies. For
more information, please visit www.guidehouse.com.
* The information contained in this press
release concerning the report, Complex Rate
Analytics, is a summary and reflects the current
expectations of Guidehouse Insights 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 Guidehouse Insights nor Guidehouse
undertakes any obligation to update any of the information
contained in this press release or the report.
For more information, contact:
Cecile Fradkin for
Guidehouse Insights
+1.646.941.9139
cfradkin@scprgroup.com
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SOURCE Guidehouse Insights