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Europe IT Spending Market Share, Size, Growth, Trends: By Type: Data Centre Systems, Enterprise Software, Enterprise IT Services, Devices, Communications Services; Regional Analysis; Market Dynamics: SWOT Analysis, Key Indicators for Demand, Key Indicators for Expenditure; Key Trends and Developments in the Market; 2024-2032
Europe IT Spending Market Outlook
The Europe IT spending market size reached a value of more than USD 941.97 billion in 2021. The market is projected to rise at a CAGR of 8.1% between 2024 and 2032, reaching a value of USD 1503.11 billion by 2027.
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Europe IT Spending Market Trends
IT spending refers to the amount of money spent by a company or organization on information technology services and infrastructure. It comprises spending on hardware, software, employee, outsourcing, and loss recovery. IT services enable organizations to manage and optimize data and communication to support the workflow.
Growing Transitional from Traditional Systems
Companies in Europe are developing their IT infrastructure rapidly to improve security and data services and implement automation to streamline workflow.
Government Organizations Increasing their IT Budget
Government agencies are focusing on the development of cybersecurity to secure data as cases of data theft are increasing. Especially since the beginning of the Russia-Ukraine war, countries are putting extra emphasis on data security.
Increasing Adoption of Cloud Computing
The growth of the Europe IT market is propelled by the technological advancements in cloud computing to store and access data from anywhere and breakthroughs to help company operations.
Europe IT Spending Market Opportunities
Increasing AI and ML Integration
Companies are providing services with advanced AI and machine learning technology to help organisations enable automation for certain operations. The demand for AI has been increasing significantly and it is expected to propel the growth of the market development.
Increasing Coverage of 5G Network
The 5G technology enables faster data transfer and high internet speed. Countries are increasing their focus on the expansion of 5G network coverage, and this can provide companies with new growth opportunities.
Lack of Trained Professionals can Impede the Market Development
The skill gap among professionals can be a major setback for the development of the market. Companies require skilled professionals to develop and manage advanced information technologies.
Europe IT Spending Market Analysis
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Based on types, the market can be segmented into data centre systems, enterprise software, devices, and communications services. Based on company size, the market can be divided into the company having less than 300 employees, having 300-2000 employees, and having more than 2000 employees. The regional markets for the market can be divided into the United Kingdom, Germany, France, and Italy, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Europe IT spending market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
Market Share by Type
Based on types, the market can be segmented into data centre systems, enterprise software, enterprise IT services, devices, and communications services.. Among these segments, data centre systems are expected to hold a major share of the market with the increasing adoption of cloud computing. Large corporations are investing in the development of data centre infrastructure.
The market is expected to develop significantly with the continuously developing cloud service market in the region.
Enterprise software is computer applications that are developed to assist big companies and corporations with various operations such as data analysis, sales and marketing, and management, among others. It is expected to experience significant growth in the forecast period.
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Market Share by Company Size
Based on company size, the market bifurcations include less than 300 employees, 300-2000 employees, and more than 2000 employees. Among these segments, 300-2000 employees and more than 2000 employee companies are expected to hold a significant share of the market. Medium-sized companies are increasingly adopting IT services as they expand their business. Third-party service providers are also introducing different plans suitable for smaller companies.
Large companies are increasingly investing in IT services and infrastructure to streamline their operations. It is expected to show rapid growth during the forecast period.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Types |
|
| Breakup by Region |
|
| Market Dynamics |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Europe IT Spending Market Analysis
8.1 Key Industry Highlights
8.2 Europe IT Spending Historical Market (2018-2023)
8.3 Europe IT Spending Market Forecast (2024-2032)
8.4 Europe IT Spending Market by Type
8.4.1 Data Centre Systems
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Company Size
8.4.1.3.1 Total Spending by Company Having Less Than 300 Employees
8.4.1.3.2 Total Spending by Company Having 300-2000 Employees
8.4.1.3.3 Total Spending by Company Having More Than 2000 Employees
8.4.2 Enterprise Software
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Business Intelligence Software
8.4.2.3.2 Content Management Software
8.4.2.3.3 Customer Relationship Mangament Software
8.4.2.3.4 Enterprise Resource Planning Software
8.4.2.3.5 Supply Chain Management Software
8.4.2.3.6 Others
8.4.2.4 Breakup by Company Size
8.4.2.4.1 Total Spending by Company Having Less Than 300 Employees
8.4.2.4.2 Total Spending by Company Having 300-2000 Employees
8.4.2.4.3 Total Spending by Company Having More Than 2000 Employees
8.4.3 Enterprise IT Services
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.3.3 Breakup by Type
8.4.3.3.1 Customized Software and App development
8.4.3.3.2 Services Including IT consulting
8.4.3.3.3 Others
8.4.3.4 Breakup by Company Size
8.4.3.4.1 Total Spending by Company Having Less Than 300 Employees
8.4.3.4.2 Total Spending by Company Having 300-2000 Employees
8.4.3.4.3 Total Spending by Company Having More Than 2000 Employees
8.4.4 Devices
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.4.3 Breakup by Company Size
8.4.4.3.1 Total Spending by Company Having Less Than 300 Employees
8.4.4.3.2 Total Spending by Company Having 300-2000 Employees
8.4.4.3.3 Total Spending by Company Having More Than 2000 Employees
8.4.5 Communications Services
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.5.3 Breakup by Company Size
8.4.5.3.1 Total Spending by Company Having Less Than 300 Employees
8.4.5.3.2 Total Spending by Company Having 300-2000 Employees
8.4.5.3.3 Total Spending by Company Having More Than 2000 Employees
8.5 Europe IT Spending Market by Country
8.5.1 United Kingdom
8.5.2 Germany
8.5.3 France
8.5.4 Italy
8.5.5 Others
9 Regional Analysis
9.1 United Kingdom
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Germany
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 France
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Italy
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Key Indicators for Demand
10.3 Key Indicators for Expenditure
11 Key Trends and Developments in the Market
List of Figures and Tables
1. Europe IT Spending Market: Key Industry Highlights, 2018 and 2032
2. Europe IT Spending Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Europe IT Spending Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Europe IT Spending Historical Market: Breakup by Country (USD Billion), 2018-2023
5. Europe IT Spending Market Forecast: Breakup by Country (USD Billion), 2024-2032
Key Questions Answered in the Report
In 2021, the market is expected to have attained a value of nearly USD 941.97 billion.
The market is expected to rise at a CAGR of 8.1% between 2021 and 2027.
The market is estimated to reach a value of USD 1503.11 billion in 2027.
Companies shifting from traditional methods to modern systems and government organisations focusing on bolstering cybersecurity are the major industry drivers.
Increasing adoption of cloud computing and implementation of AI for automation is the currently followed trends in the market.
Data centre systems, enterprise software, devices, and communications services are the types in the market.
The company sizes in the market include less than 300 employees, having 300-2000 employees, and having more than 2000 employees.
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