The news: Information and communications technology (ICT) in Europe is expected to reach $1.2 trillion this year, reflecting a 4.2% YoY growth despite fears of a recession, per IDC.
Europe’s positive outlook: Europe’s businesses will continue to spend on technology in the next four years to gain a competitive edge and solve existing problems in an increasingly uncertain market.
Areas for growth in technology: Software is the fastest-growing technology group YoY, with investments in cloud-first solutions driving the market.
The opportunity: Europe’s consumer sector will continue to be the largest IT spenders in 2025 and represent 28% of total European revenue, even as YoY growth is below 1% due to cost of living increases, per IDC.
Our take: Buoyed by the surging interest in AI and growing reliance on cloud-computing services and solutions, IT spending in the US this year could echo Europe’s investment in being competitive, especially in segments where it has fallen behind.
This article originally appeared in Insider Intelligence's Connectivity & Tech Briefing—a daily recap of top stories reshaping the technology industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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