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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