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"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."
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.
