Forecast Report

European Tech Market Outlook By Country, 2021 To 2022

European Tech Spend Will See Solid 5.4% Growth In 2022 After A Recovery Of 2.4% In 2021

January 6th, 2022
Michael O'Grady, Principal Forecast Analyst
Michael O'Grady Principal Forecast Analyst
Himank Joshi, null
Himank Joshi
With contributors:
Matthew Guarini , Andrew Bartels , Kara Wilson

Summary

European tech spend will recover from the pandemic downturn with growth (in euros) of 2.4% in 2021 and 5.4% in 2022. Software and tech services will represent more than 80% of European tech spending growth over the next three years. European countries that are more innovative, that make use of knowledge-intensive services, and that have more productive workforces will see higher levels of technology spend per capita. For technology spending to thrive, European businesses and governments need to innovate using frontier technologies and make these technologies more attractive to small and midsize enterprises.

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