Europe ICT Market Report and Forecast 2025-2034

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.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Europe ICT Industry Segmentation

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 2025-2034, 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 2025 and 2034. 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