Utilities 'to increase IT spending to $11.7bn by 2015'
18 August 2011
Posted by Michelle Devonshire
IT spending by utilities companies in western Europe is expected to reach more than $11.7 billion by 2015.
This is the claim made by analyst IDC Energy Insights, which has declared that annual expenditure in this area will stand at around $9.1 billion, with electricity continuing to dominate the market.
According to the report - 'Western Europe, Utilities Industry, IT Spending, 2010–2015 Forecast' - services account for the largest share (61.8 per cent) of the yearly total, followed by packaged software at 20.6 per cent and hardware (17.7 per cent).
"Utilities' IT investments will continue to be driven by smart metering 2012 rollouts, operational excellence, cost reductions and the need to comply with energy policies and regulation," predicted Roberta Bigliani, Europe, the Middle East and Asia Head at IDC Energy Insights.
The UK Government has set a target to ensure that all households in the country have smart meters fitted by 2020 as part of efforts to reduce greenhouse gas emissions.