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Global IT Spending in Energy Sector 2016-2020

Global IT Spending in Energy Sector 2016-2020

About IT Spending in Energy Sector

IT spending comprises the spending of the enterprise on the procurement of IT solutions and services in the energy sector. Energy firms like the oil and gas companies along with the power companies require IT solutions such as on-premises of cloud-based software solutions, networking devices, equipment, and IT support services.

Technavio’s analysts forecast the global IT spending in energy sector to grow at a CAGR of 3.18% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global IT spending in energy sector for 2016-2020. To calculate the market size, the report considers the revenue generated by vendors providing IT products, solutions, and services for energy firms operating businesses in the oil and gas and the power sectors.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global IT Spending in Energy Sector 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Dell
  • IBM
  • Infosys
  • SAP
Other prominent vendors
  • ABB Limited
  • Alcatel-Lucent
  • Capgemini
  • Cisco
  • Systems
  • GE Oil and Gas
  • Hitachi
  • Huawei Technologies
  • HCL Technologies
  • Oracle
  • Siemens
  • TCS
Market driver
  • Digital transformation and automation of energy sector.
  • For a full, detailed list, view our report
Market challenge
  • System integration and interoperability issues.
  • For a full, detailed list, view our report
Market trend
  • Energy analytics spending is on the rise.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global IT Spending in Energy Sector 2016-2020

Technavio recognizes the following companies as the key players in the global IT spending in energy sector: Dell, IBM, Infosys, and SAP.

Other prominent vendors in the market are: ABB, Alcatel-Lucent, Capgemini, Cisco Systems, GE Oil and Gas, Hitachi, Huawei Technologies, HCL Technologies, Oracle, Siemens, and TCS.

Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is emergence of cloud computing. The shift from CAPEX to OPEX model is the primary reason driving the increasing adoption of cloud computing solutions in several industry verticals. The key benefit of implementing cloud-based solutions is the pay-per-use pricing model, i.e. clients have to pay for what they use. The cloud-based solutions are also flexible in terms of deployment models as the cloud services are available in three deployment models - IaaS, PaaS, and SaaS. This allows clients to build their cloud-based infrastructure as per business requirements. The industrial clients can select a range of cloud computing services depending on their IT budgets and business requirements. There is no fixed upfront cost required, which is in sharp contrast to on-premises IT infrastructure. Moreover, it makes the cloud computing technologies attractive to manufacturers.”

According to the report, one of the primary drivers in the market is need to comply with regulations and guidelines. The oil and gas industry has to comply with many governments and industry regulations and guidelines. Operators also have to win compliance with environmental standards enforced inside national boundaries. For instance, the industry in the UK is regulated by a number of statutory bodies, including the Department of Energy and Climate Change (DECC), Environment Agency (EA) in England, Natural Resources Wales (NRW) in Wales, Health and Safety Executive (HSE), and the Scottish Environment Protection Agency (SEPA) in Scotland. Any violations can result in legal issues and penalties for operators.

Further, the report states that one major challenge in the market is data privacy and security risks. Data privacy and security risks hinder the adoption of IoT solutions. Data collected through connected devices need to be stored on a secured database and storage systems to protect the data from external cyber-attacks. Data security concerns remain a major challenge for organizations due to the presence of many connected devices and the use of private and public networks.

Companies Mentioned

GE Oil and Gas, Hitachi, Huawei Technologies, HCL Technologies, Oracle, Siemens, TCS.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table IT spending in energy sector market segmentation by technology spending
    • Countries covered
      • Table Countries covered for market analysis
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Economic overview
  • Market landscape
    • Market overview
      • Table Global IT spending in energy sector market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by technology spending
    • Global IT spending in energy sector by technology spending
      • Table Global IT spending in energy sector by IT solution
    • IT services
      • Table Global IT services spending in energy sector market 2015-2020 ($ billions)
    • Software
      • Table Global IT services spending in energy sector market 2015-2020 ($ billions)
    • Hardware
      • Table Global IT services spending in energy sector market 2015-2020 ($ billions)
  • Geographical segmentation
    • Global IT spending in energy sector by geography
      • Table Global IT spending in energy sector by geography
    • Americas
    • EMEA
    • APAC
  • Market drivers
    • Emergence of industry 4.0 technologies
    • Need to comply with regulations and guidelines
    • Increased spending in public sector projects
    • Digital transformation and automation of energy sector
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • High cost of upgrading smart grids
    • Data privacy and security risks
    • System integration and interoperability issues
    • Increasing operational complexities
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Energy analytics spending is on the rise
    • Emergence of cloud computing
    • Advent of Internet of Things
    • Proliferation of smart grids
    • Evolution of digital oil field framework
  • Vendor landscape
    • Competitive landscape
      • Table Competitive factors among IT vendors in energy sector
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor profile
    • Dell
      • Table Dell: Energy industry service offerings
      • Table Recent developments
    • IBM
      • Table IBM: Oil and gas industry service offerings
      • Table Recent developments
    • Infosys
      • Table Infosys: Service offerings
      • Table Infosys: Oil and gas industry offerings
    • SAP
      • Table SAP: Oil and gas solutions
      • Table Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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