Utilities to spend $448 mn on IT by 2018: IDC

Highlights

IT spending by utility firms in the country is expected to increase to $448 million by 2018, growing at an average CAGR of 4.16 per cent, research firm IDC said.

New Delhi : IT spending by utility firms in the country is expected to increase to $448 million by 2018, growing at an average CAGR of 4.16 per cent, research firm IDC said.

The spending, which stood at $368 million in 2014 across hardware, software and services, will be focussed on deploying cloud technology, improving service levels, driving agility and standardisation.

IT investments by utilities companies remain focussed on delivering cost savings and efficiency gains, but change is in the air, IDC said in a statement.

"The utilities sector is conservative but changing rapidly as organisations respond to a wave of disruptors, most critical is changing customer expectations.

"The utility sector in India has adopted change -- as Indian energy companies move from paper and manual processes to adopting third platform technologies such as automation, cloud infrastructure to drive mobility, data integration, CRM and more automated metering approaches," IDC India and South Asia Associate VP Insights and Consulting Shalil Gupta said.

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