Deregulated utility market set for spend spree on IT
The Western European utility market is set to embrace IT as the sector continues to deregulate, according to IDC.
Revenue for IT applications in the Western European utility market is predicted to increase from $258m in 2001 to $408m in 2006.
IDC believes this increase will occur due to the disappearance of old utility monopolies, leaving market conditions ripe for increased competition and investment in new technologies.
Software is found to be the fastest growing IT segment for the utility market, with investment driven by the implementation of advanced applications that span the whole value chain.
The report, Utilities – The Impact of European Deregulation on the Sector, can be purchased at the IDC website.