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Annual IT Spending by Western European Utilities to Reach $13.5 Billion by 2018, Says IDC Energy Insights

According to a new IT spending forecast report published by IDC Energy Insights, total year-end IT spending by Western European utilities is expected to reach $13.5 billion by 2018, with an estimated 2013-2018 CAGR of 4.1%. Analyzing current IT spending, total year-end IT spending by Western European utilities is expected to be $11.6 billion in 2014, with electricity companies accounting for the largest share of spending, at 67% or $7.7 billion of the total.
“Despite the economic downturn, utilities are investing in IT to achieve operational efficiency and possibly innovate and grow,” said Gaia Gallotti, research manager, IDC Energy Insights. “Software spending will see the most significant increase, growing at a 2013-2018 CAGR of 6.3%, reaching $3.6 billion by 2018. IT services also has a positive outlook, growing just below average at 3.8%, while hardware spending, when excluding mobile devices, is expected to be almost flat, barely growing at 1.4% between 2013 and 2018.”
IDC iChart: Western European Utilities, Country / Region Spending, 2014 and CAGR 2013-2018
The report, which includes market sizing and forecast estimates for the utilities industry in Western Europe for 2013-2018, shows that:
– Electricity already accounts for the largest share of IT spending in 2014. The subindustry is not expected to reduce its spending any time soon as it will have the fastest-growing, above-average CAGR between 2013 and 2018 (4.6%).
– Gas is also expected to continue to spend well in the forecast period, but spending will be below average at a 2013-2018 CAGR of 3.7%.
– The water subindustry will have the slowest growth rate – significantly below average at 2.7% – though this is expected as companies in this subindustry are often smaller and more localized, making it more difficult for them to find financial resources to invest in IT, especially with the current economic situation (with the U.K. being the exception).
– The U.K. has the largest IT spending in the electricity sector, accounting for 20.5% of total electricity IT spending in Western Europe.
The report, Western Europe Utilities Industry IT Spending 2013-2018 Forecast (IDC Energy Insights #EIOS55W, August 2014), includes market sizing and forecast estimates for the utilities industry in Western Europe for 2013-2018. It contains a downloadable pivot table, a detailed overview of the utilities sector in the top 6 Western European countries/regions (France, Germany, Italy, Spain, the U.K., and Benelux), and an aggregate of the remaining Western European countries. It also provides an overview of utilities– business environment and IT spending behavior, priorities, and future outlook.
For more information or to arrange a one-on-one briefing with an IDC Energy Insights analyst, please contact Kanupriya at kanupriya@idc.com.
About IDC Energy Insights
IDC Energy Insights assists energy businesses and IT leaders, as well as the suppliers that serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the utility and oil and gas industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world–s leading technology, media, research, and events company. For more information, please visit www.idc-ei.com or email info@idc-ei.com.

[url=http://www.idc.com/prodserv/insights/energy/index.jsp]IDC Energy Insights[/url] assists energy businesses and IT leaders, as well as the suppliers that serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the utility and oil and gas industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world–s leading technology, media, research, and events company. For more information, please visit www.idc-ei.com or email info@idc-ei.com.

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