ICT Opportunities Across European Vertical Markets
IT & Communications (ICT) investment across vertical markets will outpace Europe’s average gross domestic product (GDP) growth. Compared to the organisation for economic co-operation and development’s (OECD) nominal GDP forecast between 2014 and 2016 of %, the total ICT spending by industries in Europe is expected to grow at faster pace of an average year-on-year (YoY) of % between 2014 and 2019.
Five industries offer strategic opportunities for the ICT community. These are the ICT, energy and utilities, healthcare, transportation, and manufacturing industries, all of which lead the drive in digitalisation of a connected society.
Emerging technology trends create tactical opportunities for the ICT community. Information technology (IT)-based and software-based requirements stem from the digitalisation trend across industries, Internet of Things (IoT) fulfilment, and an eventual IT/Operational Technology (OT) convergence.
Winners in the ICT community must be agile in organisation, technology portfolio, and customer acquisition. A few notable market leaders are Ericsson, Cisco, and Deutsche Telekom Group.
Communications service providers face the biggest challenge in retaining and growing its share of vertical markets ICT investments. Those with limited scale and portfolio offerings face the highest risks of irrelevance.
The ICT industry is poised for a shake-up. New types of stakeholders will be formed and the consolidation of traditional market leaders will intensify this year, leading to innovations in business models in applying new technology.
About this report
This research service complements a recent market engineering report (MA35-67) on the total ICT spending in connected industries in Europe. It examines the drivers for ICT adoption in key industries, as well as how key technology trends influence different industries. Beyond the race to capture Connected Car in the automotive sector, other industries offer significant potential for the ICT community. These are energy and utilities, healthcare, transportation, and manufacturing. The ICT winners must be agile in organisation, technology portfolio, and acquisition of customers.
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