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
SOURCE Guidehouse Insights