25 Sep 2019
IDC Energy Insights Forecasts Western European Utilities' Total Year-End IT Spending to Reach $17.8 Billion in 2019
MILAN, September 25, 2019 — According to a new IDC Energy Insights study, Western European utilities' total year-end IT spending is expected to reach $17.8 billion in 2019. The study, Western Europe Utilities IT Spending Forecast, 2018–2023 (IDC #EUR144955819, September 2019), shows that electricity companies continue to take the largest share with 64.8% ($11.6 billion). The gas and water segments are considerably smaller but still important (16.6% and 15.1% respectively).
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 enable 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.
IDC Energy Insights forecasts that by 2023 Western European utilities' IT spending will reach $20.9 billion, with an estimated 2018–2023 compound annual growth rate (CAGR) of 4.0%. The electricity segment's IT spending is already the most substantial in 2019, with a CAGR of 4.3%, reaching $13.7 billion by 2023. The fastest growth in this segment is forecast in the U.K., France, and the Nordics.
The water segment, which over the past couple years has picked up noticeably to almost catch up with the gas segment, is expected to see the strongest growth in BeNe (Belgium and the Netherlands), France, and the U.K.
"By investing in IT, utility companies aim to overcome a series of challenges they currently face, especially declining revenues from their traditional businesses, and once again be relevant and deliver value to customers, employees, shareholders, and the entire society. Despite IT spending growth slowing down significantly in the recent past, utilities' IT spending continues to recover, consistently outperforming the European cross-industry average," said Gaia Gallotti, associate research director, IDC Energy Insights.
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 firstname.lastname@example.org.
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 email@example.com, or call 508-935-4400.
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