19 Sep 2017
IDC Energy Insights Forecasts Western European Utilities' Total Year-End IT Spending to Reach $15.2 Billion in 2017
MILAN, September 19, 2017 — According to a new IDC Energy Insights study, Western European utilities' total year-end IT spending is expected to reach $15.2 billion in 2017. The study, Western Europe Utilities Industry IT Spending 2016–2021 Forecast (IDC #EMEA41387717, August 2017), shows that electricity companies continue to take the largest share at 64.7% ($9.85 billion). The gas and water segments are considerably smaller but still important, and over the past couple of years they have taken a larger share of Western European utilities' IT spending.
The study summarizes major data by top countries and regions as well as by utility subindustry, in pivot table format to help readers understand the overall structure of the utility industry and IDC Energy Insights' views on IT spending. It will allow vendors to draw useful considerations on short- and long-term opportunities in their markets of interest. Vendors should use the study to support their budgeting activities.
Key highlights of the study include:
- By 2021, Western European utilities' IT spending will reach $16.8 billion. With an estimated 2016–2021 CAGR of 2.6%, the IT services segment will have the largest share of total IT spending in 2017 with 57.2% ($8.7 billion).
- In terms of IT spending for services, outsourcing will have the largest share (46.6%), followed by project-oriented (37%) and support and training (16.5%).
"Despite most utilities having their IT budgets cut, 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 2016–2021 CAGR of 5.7%, reaching $4.6 billion by 2021."
For more information about the study, or to arrange a one-on-one briefing with IDC Energy Insights' analyst team, please contact Kanupriya at +44 20 8987 7100 or email@example.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, email firstname.lastname@example.org, or call 508-935-4400.