A Cross-Cutting View of European Verticals: Benchmarking IT, GDP, and Employment, 2020 and 2022 outlook

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.


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
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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

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