STAMFORD, Conn.--(BUSINESS WIRE)--Mar 13, 2025--
The European power and utilities industry is undergoing a profound transformation in the face of increasing needs for energy security, sustainability and affordability, according to new research reports published today by Information Services Group ( ISG ) (Nasdaq: III ), a global AI-centered technology research and advisory firm.
The Russia-Ukraine war has triggered a deep reassessment of Europe’s energy security, ISG says. Governments and utilities are accelerating efforts to diversify energy sources following the disruption of Russian gas supplies, which came on top of the escalating climate crisis. The region’s dependence on imported gas and increasing need for renewable energy have exposed gaps in grid capacity and readiness for a carbon-neutral future.
“Europe’s commitment to become climate-neutral by 2050 will require grid modernization in addition to new energy sources,” said Mark Smith, partner, software research at ISG. “Utilities are transforming grid software to accommodate more connections, higher efficiency and reliable service.”
To guide utilities through the selection of software and services, ISG has published the 2024 ISG Provider Lens™ Power & Utilities Industry — Services and Solutions report for Europe and two ISG Buyers Guides™: Power and Utilities Grid Management and Power and Utilities Enterprise Asset Management. Together, the three reports assist companies in choosing both software solutions and providers of consulting, implementation, integration and management services.
Europe’s rapid energy transition has further complicated the requirements of electrical grids, already among the world’s most complex infrastructures, ISG says. Major trends include the introduction of intermittent power from solar and wind, hydrogen power to decarbonize transportation and storage technologies such as batteries and pumped-storage hydroelectricity. The growing number of EVs is increasing demand for electricity while introducing a potential decentralized energy source.
To manage grids, utilities are investing in platforms for orchestration and connectivity to the edges of the network, ISG says. AI-driven insights and automation are at the core of many software solutions utilities are using to integrate new energy sources and make decisions for grid optimization and cost savings.
Asset management software is also critical to the operation and stability of grids in Europe and other regions. Utilities are seeking platforms that use new technology, including AI, to increase the performance and extend the useful life of assets while reducing operating costs. Through 2027, a majority of utilities worldwide will modernize asset management systems to ensure reliable power delivery, ISG says.
Along with acquiring new software solutions, European utilities are investing in services for intelligent business process management, cloud engineering, customer experience and other needs, the ISG Provider Lens report says. Service providers are playing key roles in industry trends including increased adoption of cloud computing and comprehensive cybersecurity services.
“Europe’s energy transformation requires long-term strategy, implementation and management,” said Julien Escribe, ISG partner and utilities industry lead. “Leading service providers are essential partners to power and utility companies making this leap.”
For more insights into the challenges faced by European energy and utility companies and ISG’s advice for overcoming them, see the ISG Provider Lens™ Focal Points briefing here.
The Buyers Guide for Power and Utilities Grid Management evaluates 12 software providers and names GE Vernova, Schneider Electric and Siemens as Overall Leaders. The Buyers Guide for Power and Utilities Enterprise Asset Management also evaluates 12 software providers and names SAP, IBM and Hitachi Energy as Overall Leaders.
The 2024 ISG Provider Lens™ Power & Utilities Industry — Services and Solutions report for Europe evaluates the capabilities of 36 providers across five quadrants: Intelligent Business Process Management Services (iBPMS), Next-gen IT Services, Grid Modernization, Enterprise Asset Management (EAM) and Customer Information Systems (CIS) and Customer Experience (CX).
The report names Accenture, Capgemini, Cognizant, IBM Consulting, Infosys, TCS and Wipro as Leaders in all five quadrants. It names Deloitte as a Leader in four quadrants and EXL, Teleperformance and WNS as Leaders in two quadrants each. Eviden | Atos, HCLTech, Hitachi Digital Services and Tech Mahindra are named as Leaders in one quadrant each.
In addition, Cyient is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant.
A customized versions of the ISG Provider Lens report is available from WNS.
Visit this webpage to learn more about the ISG Power and Utilities Buyers Guides and to read the executive summaries of the two reports. The complete reports, including provider rankings across seven product and customer experience dimensions and detailed research findings on each provider, are available by contacting ISG Software Research.
The 2024 ISG Provider Lens™ Power & Utilities Industry — Services and Solutions report for Europe is available to subscribers or for one-time purchase on this webpage.
About ISG Software Research
ISG Software Research, previously Ventana Research, provides authoritative market research and coverage of the business and IT software industry. It distributes research and insights daily through its user community, and provides a portfolio of consulting, advisory, research and education services for enterprises, software and service providers, and investment firms. Its on-demand service provides structured education and advisory support through subject-matter experts. ISG Buyers Guides support the RFI/RFP process and help enterprises evaluate and select software providers through tailored assessment services and the ISG Software Research Value Index methodology. Visit research.isg-one.com for more information and to sign up for free community membership.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
About ISG
ISG (Nasdaq: III ) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.
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CONTACT: Press Contacts:Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.comPhilipp Jaensch, ISG
+49 151 730 365 76
philipp.jaensch@isg-one.com
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