Several studies, like those from EITO or Gartner predict very stable and realistic growth opportunities. Gartner Dataquest, in it`s study of 2004 about applications and infrastructure software alone, predicted for 2008 $34 billion as compared to $26 billion in 2002.
The total market for IT-related products and services is approximately $250 billion. With figures like these, the European Union market is an absolute must for any international high-tech products or software / services supplier.
With a 10% annual growth rate. 50% of the market is driven by telecom needs and the other 50% by computer-related businesses.
Europeans spend approximately €9 billion on software and standard applications, €10 billion for services and consulting, and another €5 billion for support and training. German-speaking countries make up a large chunk of the potential.
The European ICT sector
The European ICT (information and communication technologies) sector includes the production of ICT goods and ICT services. ICT is main contributor of prosperity and growth to EU. Effective uptake if ICT in the production process is considered the main factor to push productivity. The use of ICT throughout the value chain enables firms to increase their overall efficiency and makes them more competitive.
In 2003, the ICT sector’s value in the EU stood at €557 billion, split three-quarters (75.1%) for ICT services and one-quarter for ICT manufacturing (24.9%). The number of ICT service sector and ICT manufacturing enterprises was 503,000 and 45,000 respectively, employing a total of about 6 million persons. In 2004, the value added in EU in ICT services is expected to be 620 billion EUR and 644 billion EUR in 2006.
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