Analyst Insight: Energy IT in Europe

In the wake of the Ukraine war and the resulting energy crisis, energy providers are facing fierce competition. With rising energy prices and changes to generation, providers must set themselves apart through their customer service and their customer information. Over the next few years, energy IT industries will witness a growth in customer information systems and customer relationship management systems to satisfy this need. Smart metering is also witnessing ongoing growth as utilities turn to digital technologies as a new source of value. Additionally, there will be high growth in meter data management systems (MDMS) to process this data and generate actionable insights.

Over the next decade, the energy IT market is expected to show notable growth across all segments. From an annual growth perspective, asset management systems, MDMS, and data analytics are expected to lead the pack. As renewable energy and distributed energy resources grow, more energy IT and operational technology (OT) systems will be needed to support the decentralization and flexibility of the grid.

Cloud-based software as a service will likely continue to account for a growing percentage of IT investment over the forecast period, as it requires fewer product deliveries and can provide swift responses to outages. This Analyst Insight examines the major industry players for energy IT and OT systems in Europe and outlines key trends in the growing European market.