12 May 2008
The European market for IT, telecommunications and digital consumer electronics (ICT) will increase by three per cent in 2008, to reach 761 billion euros (£600 billion), it has been claimed.
According to the latest forecast from the European Information Technology Observatory (EITO), the growth rate is actually a relatively healthy one, considering the already high level of achievement that has been reached by the industry.
"Based on solid growth in the European market and their enormous potential in know-how, European companies are well positioned to excel in global competition," explained Bruno Lamborghini, chairman of the EITO.
The report suggested that IT will grow this year at a rate of 4.3 per cent to reach 313 billion euros (£247 billion), with IT services growing by 5.7 per cent, software by 5.2 per cent and IT outsourcing by 7.4 per cent. EITO added that it expects IT growth to continue across Europe in 2009, at a rate of 4.4 per cent.
The UK was confirmed as the largest ICT market in Europe, worth 152 billion euros (£120 billion) compared to Germany's 145 billion euros (£114 billion) and France's 113 billion euros (£89 billion). Britain's success was attributed in particular to its large investments in IT outsourcing in the EU.
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