Western Europe Vertical Markets IT Spending Forecast, 2018–2022: Spending Will Reach $532 Billion in 2022, Driven by New Technologies and Strong Investments in Retail
In this study, IT spending forecasts are segmented into 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.This IDC Market Forecast analyzes IT investments between 2017 and 2022 in Western Europe, providing a market size and forecast of IT spending by vertical market."With increasing pressures such as strong competition, changing consumer habits, and high customer expectations, Western European companies are looking at technology as an opportunity to evolve. Renovating business models through digital transformation (DX) enables companies to be one step ahead, deliver innovative services, and enhance customer experience (CX). Technologies such as mobile solutions, Big Data, cloud, and social media are now 'the new normal.' The spotlight is on next-generation technologies, which are growing fast and will push innovation to the next level. Thanks to their ability to streamline back-office processes and improve customer-facing tasks, artificial intelligence (AI), the Internet of Things (IoT), blockchain, augmented and virtual reality (ARVR), and robotics are now a key focus for all industries. We expect significant investments in the upcoming years, with IT spending reaching $532 billion in Western Europe," said Andrea Minonne, research analyst, IDC Customer Insight & Analysis.
Please Note: Extended description available upon request.
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