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Europe ICT Market Size, Share, Growth, Forecast, Report: By Type: Hardware, Software, IT and Infrastructure Services, Telecommunication Services; By Enterprise Size: Small and Medium Enterprises, Large Enterprises; By Industry Vertical: BFSI, IT and Telecom, Government, Others; Regional Analysis; Competitive Landscape; 2024-2032
Europe ICT Market Size
The Europe ICT market attained a value of around USD 1.10 trillion in 2023. It is projected to grow at a CAGR of 5.3% during 2024-2032 to reach USD 1.75 trillion by 2032.
| Europe ICT Market Report Summary | Description | Value |
| Base Year | USD Trillion | 2023 |
| Historical Period | USD Trillion | 2018-2023 |
| Forecast Period | USD Trillion | 2024-2032 |
| Market Size 2023 | USD Trillion | 1.10 |
| Market Size 2032 | USD Trillion | 1.75 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 5.3% |
| CAGR 2024-2032 - Market by Country | United Kingdom | 6.9% |
| CAGR 2024-2032 - Market by Industry Vertical | IT and Telecom | 6.0% |
| CAGR 2024-2032 - Market by Enterprise Size | Small and Medium Enterprises | 5.8% |
| Market Share by Country 2023 | Germany | XX% |
Europe ICT Market Outlook
- Many European countries like Cyprus, Italy, Denmark, and Austria have over 80% of 5G internet coverage in their populated areas.
- 51% of European households in remote regions can access 5G networks.
- 58% of people residing in Hungary’s most populated areas have access to 5G internet network.
Europe ICT Market Growth
In 2023, nearly 50% of all enterprises based in the EU were using e-business applications for managing their resources, gathering business intelligence, and interacting with their customers. Nearly 38% of all small size enterprises and 86% of all large enterprises were using business software for optimising their internal workflows and enhancing their operational efficiency. Denmark (74%), Finland (71%), and Belgium (67%) emerged as the key nations with high usage of ERP and CRM software, besides BI tools.
The European Commission estimates that investments worth 227 billion euros are required to achieve the digital infrastructure targets set under the program of Digital Decade 2030. This includes the expansion of 5G network coverage, increasing semiconductor production, and building the world's first-ever computer with quantum acceleration capabilities, among others. Nearly 55% of all rural households in Europe do not have access to advanced networks, and 9% of households receive no fixed network and mobile coverage. This initiative is expected to bridge the digital divide in European regions and boost connectivity across key transportation corridors connected with roadways, railways, and seaways, hence aiding the market expansion.
Europe ICT Industry Segmentation
Europe ICT Market Report and Forecast 2024-2032 provides an in-depth analysis of the different market segments mentioned below:
Market Breakup by Type
- Hardware
- Network Switches
- Routers and WLAN
- Servers and Storage
- Others
- Software
- IT and Infrastructure Services
- Telecommunication Services
Market Breakup by Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
| CAGR 2024-2032 - Market by | Enterprise Size |
| Small and Medium Enterprises | 5.8% |
| Large Enterprises | XX% |
Market Breakup by Industry Vertical
- BFSI
- IT and Telecom
- Government
- Retail and E-Commerce
- Manufacturing
- Energy and Utilities
- Others
| CAGR 2024-2032 - Market by | Industry Vertical |
| IT and Telecom | 6.0% |
| Retail and E-Commerce | 5.7% |
| BFSI | XX% |
| Government | XX% |
| Manufacturing | XX% |
| Others | XX% |
Market Breakup by Country
- United Kingdom
- Germany
- France
- Italy
- Others
| CAGR 2024-2032 - Market by | Country |
| United Kingdom | 6.9% |
| France | 5.8% |
| Germany | XX% |
| Italy | XX% |
| Others | XX% |
Europe ICT Market Share
Based on industry vertical, the market is divided into manufacturing, energy and utilities, IT and telecom, government, BFSI, and retail and e-commerce, among others. Over the forecast period of 2024-2032, the retail and e-commerce sector is assessed to grow at a CAGR of 5.7%, as businesses shift their focus towards expanding their online presence to capture consumer attention and boost sales.
Meanwhile, the telecom and IT sector is estimated to witness the fastest growth, growing at a CAGR of 6.0% between 2024 and 2032. This can be attributed to the increasing technological advancements and innovations.
Leading Companies in Europe ICT Market
European governments and the EU are focusing on remaining technologically advanced and competing with the United States and China. Increasing investments in generative AI and associated domains are expected to have a favourable impact on major ICT companies in the market.
- IBM Corp.
- Cisco Systems Inc.
- Google LLC
- AT&T Inc.
- Fujitsu Ltd.
- Oracle Corp.
- Verizon Communications Inc.
- Huawei Technologies Co., Ltd.
- Fortinet Inc.
- Capgemini SE
- Others
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 Type |
|
| Breakup by Enterprise Size |
|
| Breakup by Industry Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 Opportunities and Challenges in the Market
8 Global ICT Market Overview
8.1 Key Industry Highlights
8.2 Global ICT Historical Market (2018-2023)
8.3 Global ICT Market Forecast (2024-2032)
8.4 Global ICT Market Breakup by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Europe ICT Market Overview
9.1 Key Industry Highlights
9.2 Europe ICT Historical Market (2018-2023)
9.3 Europe ICT Market Forecast (2024-2032)
10 Europe ICT Market by Type
10.1 Hardware
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Network Switches
10.1.3.2 Routers and WLAN
10.1.3.3 Servers and Storage
10.1.3.4 Others
10.2 Software
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 IT and Infrastructure Services
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Telecommunication Services
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 Europe ICT Market by Enterprise Size
11.1 Small and Medium Enterprises
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Large Enterprises
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Europe ICT Market by Industry Vertical
12.1 BFSI
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 IT and Telecom
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Government
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Retail and E-Commerce
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Manufacturing
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Energy and Utilities
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 Europe ICT Market by Country
13.1 United Kingdom
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Germany
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 France
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Italy
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cisco Systems Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Google LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 AT&T Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Fujitsu Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Oracle Corp.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Verizon Communications Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Huawei Technologies Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Fortinet Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Capgemini SE
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global ICT Market: Key Industry Highlights, 2018 and 2032
2. Europe ICT Market: Key Industry Highlights, 2018 and 2032
3. Europe ICT Historical Market: Breakup by Type (USD Trillion), 2018-2023
4. Europe ICT Market Forecast: Breakup by Type (USD Trillion), 2024-2032
5. Europe ICT Historical Market: Breakup by Enterprise Size (USD Trillion), 2018-2023
6. Europe ICT Market Forecast: Breakup by Enterprise Size (USD Trillion), 2024-2032
7. Europe ICT Historical Market: Breakup by Industry Vertical (USD Trillion), 2018-2023
8. Europe ICT Market Forecast: Breakup by Industry Vertical (USD Trillion), 2024-2032
9. Europe ICT Historical Market: Breakup by Country (USD Trillion), 2018-2023
10. Europe ICT Market Forecast: Breakup by Country (USD Trillion), 2024-2032
11. Europe ICT Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 1.10 trillion in 2023.
The market is projected to grow at a CAGR of 5.3% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 1.75 trillion in 2032.
The different ICT types considered in the report include hardware, software, IT and infrastructure services, and telecommunication services.
The different sizes of enterprises in the market include small and medium enterprises and large enterprises.
The different industry verticals in the market include BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others.
The different countries covered in the market report are the United Kingdom, Germany, France, and Italy, among others.
The key market players are IBM Corp., Cisco Systems Inc., Google LLC, AT&T Inc., Fujitsu Ltd., Oracle Corp., Verizon Communications Inc., Huawei Technologies Co., Ltd., Fortinet Inc., and Capgemini SE, among others.
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