A Cross-Cutting View of European Verticals: Benchmarking IT, GDP, and Employment, 2020 and 2022 outlook
Description
A Cross-Cutting View of European Verticals: Benchmarking IT, GDP, and Employment, 2020 and 2022 outlook
This IDC Market Perspective analyzes vertical market indicators in Europe to understand the structure, size, and economic importance of industry sectors on the continent. The study focuses on the economic contribution of verticals to national and regional GDP and includes employment numbers by vertical. The study examines IT spending as a percentage of GDP as well as IT spending per employee to determine the level of IT sophistication of each vertical in 21 European countries. The vertical markets covered include discrete manufacturing, process manufacturing, retail and wholesale, resource industries and construction, utilities, telecommunications, media, transportation, personal and professional services, financial services, and the public sector. The study also provides an outlook to the most influential macro-factors impacting the ICT market in 2022 such as the Russia-Ukraine War, inflation, and the role of the NextGenerationEU and the national recovery plans. It also reviews trends impacting IT investments by industry."For years, IT intensity (IT/GDP) and productivity (GDP per employee) indicators have been growing steadily for all industries and countries in Europe, but the disruptions caused by COVID-19 to European industries draw a heterogeneous picture in 2020. Considering the headwinds currently shaping the economy landscape in 2022, vendors must build vertical strategies to help organizations improve their resiliency and seize opportunities arising from digital-first strategies," said Neli Vacheva, research manager, IDC Customer Insights and Analysis."Among the main concerns for 2022 is the Russia-Ukraine War, which brought additional inflationary pressure on markets. Despite IT spending seeming to be resilient, many economic indicators will be affected by increasing prices, as will companies' technology investment priorities," said Carla La Croce, senior research analyst, IDC Customer Insights and Analysis. "The economic outlook will be monitored by IDC very closely, with constant updates."
Please Note: Extended description available upon request.
This IDC Market Perspective analyzes vertical market indicators in Europe to understand the structure, size, and economic importance of industry sectors on the continent. The study focuses on the economic contribution of verticals to national and regional GDP and includes employment numbers by vertical. The study examines IT spending as a percentage of GDP as well as IT spending per employee to determine the level of IT sophistication of each vertical in 21 European countries. The vertical markets covered include discrete manufacturing, process manufacturing, retail and wholesale, resource industries and construction, utilities, telecommunications, media, transportation, personal and professional services, financial services, and the public sector. The study also provides an outlook to the most influential macro-factors impacting the ICT market in 2022 such as the Russia-Ukraine War, inflation, and the role of the NextGenerationEU and the national recovery plans. It also reviews trends impacting IT investments by industry."For years, IT intensity (IT/GDP) and productivity (GDP per employee) indicators have been growing steadily for all industries and countries in Europe, but the disruptions caused by COVID-19 to European industries draw a heterogeneous picture in 2020. Considering the headwinds currently shaping the economy landscape in 2022, vendors must build vertical strategies to help organizations improve their resiliency and seize opportunities arising from digital-first strategies," said Neli Vacheva, research manager, IDC Customer Insights and Analysis."Among the main concerns for 2022 is the Russia-Ukraine War, which brought additional inflationary pressure on markets. Despite IT spending seeming to be resilient, many economic indicators will be affected by increasing prices, as will companies' technology investment priorities," said Carla La Croce, senior research analyst, IDC Customer Insights and Analysis. "The economic outlook will be monitored by IDC very closely, with constant updates."
Please Note: Extended description available upon request.
Table of Contents
32 Pages
- Executive Snapshot
- New Market Developments and Dynamics
- GDP in European Countries and Vertical Markets
- Employment and Unemployment in European Countries and Vertical Markets
- European Vertical Markets: IT Intensity and Productivity
- Mapping the IT Sophistication of Vertical Markets in Europe
- Outlook 2022
- The Impact of Winds of Change on IT Spending and GDP
- Inflationary Pressures
- Russia-Ukraine War
- The Role of NGEU and National Recovery Plans
- Factors Shaping Vertical Spending in 2020-2022
- Financial services Sector
- Manufacturing
- Retail & Wholesale
- Public Sector
- Telecommunications
- Utilities
- Professional Services
- Transportation
- Advice for the Technology Suppliers
- Learn More
- Related Research
- Methodology
- Employment and GDP Data Sources and Definitions
- Geographic Regions
- IT Spending Data Source
- IT Intensity
- Information Technology Definitions
- Vertical Markets Definitions
- Synopsis
Pricing
Currency Rates
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