Forecast Report

European Tech Market Outlook By Country For 2020 To 2021

Modest Recoveries In 2021 After 2020 Pandemic Recessions

March 12th, 2021
Michael O'Grady, Principal Forecast Analyst
Michael O'Grady Principal Forecast Analyst
Andrew Bartels, null
Andrew Bartels
Himank Joshi, null
Himank Joshi
With contributors:
Pascal Matzke , Audrey Hecht , Alex Sobchuk

Summary

The COVID-19 pandemic has damaged European economies and tech markets, as it has elsewhere in the world. European countries did bring infection and death rates down during the summer, and their economies rebounded in Q3 2020 from sharp downturns in Q1 and Q2. As a result, tech markets did better than we had feared. However, the coronavirus's return in Q4 2020 and Q1 2021 will bring economic setbacks until the second half of 2021 when rollouts of vaccines bring an end to fears and lockdowns. Overall, European tech markets will fall by 4.7% in 2020 but grow by 1.6% in 2021. In this report, we provide our forecasts for tech markets in France, Germany, Italy, the Netherlands, Spain, Sweden, Switzerland, and the UK. CIOs that work at companies headquartered or operating in these countries can use this report for guidance on what to expect in terms of supply and demand for tech goods and services in 2021.

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