European IT Spending Forecast, 2022–2026: Key Digital Trends Across European Industries
Description
European IT Spending Forecast, 2022–2026: Key Digital Trends Across European Industries
This IDC Market Forecast analyzes European IT spending between 2021 and 2026 as well as provides a market size, forecast, and key trends supporting technology investments by industry. This forecast is segmented by IDC's 20 standard vertical markets: banking, insurance, securities and investment services, discrete manufacturing, process manufacturing, retail, wholesale, professional services, personal and consumer services, healthcare provider, transportation, telecommunications, media, utilities, construction, resource industries, federal/central government, state/local government, education, and consumer. "In 2022, Europe had to adapt to new challenges and unexpected change that required a new level of resilience. Just as European companies were healing from damage from the COVID-19 pandemic, they were called to face the effects of the Russia-Ukraine War, which reverberated across the European market, impacting both enterprises and consumers. Energy, oil, and gas price increases, high inflation, staff shortages, lack of skills, supply chain disruptions, and logistics challenges ensued this year," said Andrea Minonne, research manager, Data and Analytics at IDC UK. "With the cost of products and services going up, customers will become more price sensitive and raise their customer experience (CX) expectations, and all industries will have to meet those expectations. On the other hand, the increase of fixed and variable costs such as rent and lease, bills, salaries, loan repayments, and raw material supply will put pressure on revenues and profits and European businesses will be more strategic in their investment choices. Lastly, with staff shortages affecting many industries, businesses are forced to adjust and automate their operations to guarantee processes and operations will stay healthy and guarantee business continuity."
Please Note: Extended description available upon request.
This IDC Market Forecast analyzes European IT spending between 2021 and 2026 as well as provides a market size, forecast, and key trends supporting technology investments by industry. This forecast is segmented by IDC's 20 standard vertical markets: banking, insurance, securities and investment services, discrete manufacturing, process manufacturing, retail, wholesale, professional services, personal and consumer services, healthcare provider, transportation, telecommunications, media, utilities, construction, resource industries, federal/central government, state/local government, education, and consumer. "In 2022, Europe had to adapt to new challenges and unexpected change that required a new level of resilience. Just as European companies were healing from damage from the COVID-19 pandemic, they were called to face the effects of the Russia-Ukraine War, which reverberated across the European market, impacting both enterprises and consumers. Energy, oil, and gas price increases, high inflation, staff shortages, lack of skills, supply chain disruptions, and logistics challenges ensued this year," said Andrea Minonne, research manager, Data and Analytics at IDC UK. "With the cost of products and services going up, customers will become more price sensitive and raise their customer experience (CX) expectations, and all industries will have to meet those expectations. On the other hand, the increase of fixed and variable costs such as rent and lease, bills, salaries, loan repayments, and raw material supply will put pressure on revenues and profits and European businesses will be more strategic in their investment choices. Lastly, with staff shortages affecting many industries, businesses are forced to adjust and automate their operations to guarantee processes and operations will stay healthy and guarantee business continuity."
Please Note: Extended description available upon request.
Table of Contents
25 Pages
- IDC Market Forecast Figure
- Executive Summary
- Advice for Technology Suppliers
- Market Forecast
- Market Context
- Drivers and Inhibitors
- Drivers
- Data Intelligence and Automation
- Security Needs
- The Digital Push
- Inhibitors
- Inflationary Pressures from the Russia-Ukraine War
- Skill/Labor Shortage
- Significant Market Developments
- Financial Services
- Manufacturing
- Resource/Construction
- Retail/Wholesale
- Professional Services
- Transportation
- Telecom/Media
- Utilities
- Government
- Education
- Healthcare
- Changes from Prior Forecast
- Market Definition
- Methodology
- Related Research
Pricing
Currency Rates
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