Europe It Services Market Size & Outlook, 2023-2030
Europe it services market, 2017-2030 (US$M)
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Europe it services market highlights
- The Europe it services market generated a revenue of USD 311,491.3 million in 2023.
- The market is expected to grow at a CAGR of 9.8% from 2024 to 2030.
- In terms of segment, reactive it services was the largest revenue generating approach in 2023.
- Proactive IT Services is the most lucrative approach segment registering the fastest growth during the forecast period.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 311,491.3 million |
| Market revenue in 2030 | USD 599,995.5 million |
| Growth rate | 9.8% (CAGR from 2023 to 2030) |
| Largest segment | Reactive it services |
| Fastest growing segment | Proactive IT Services |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Reactive IT Services, Proactive IT Services |
| Key market players worldwide | Amazon.com Inc, Avaya, Cisco Systems Inc, DXC Technology Co Registered Shs When Issued, Fortinet Inc, Hewlett Packard Enterprise Co, Huawei Technologies, International Business Machines Corp, Juniper Networks Inc, Microsoft Corp, Broadcom Inc, Oracle Corp |
Other key industry trends
- In terms of revenue, Europe region accounted for 22.9% of the global it services market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 763,421.5 million by 2030.
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IT Services Market Scope
IT Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe it services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to it services market will help companies and investors design strategic landscapes.
Reactive it services was the largest segment with a revenue share of 55.33% in 2023. Horizon Databook has segmented the Europe it services market based on reactive it services, proactive it services covering the revenue growth of each sub-segment from 2017 to 2030.
Europe is anticipated to expand with a significant growth rate owing to the high adoption of professional and managed services, rising adoption of smart technologies, and increasing security investment. For instance, in January 2022, The European Commission launched the first calls for propositions under the Connecting Europe Facility program.
With a budget of USD 273.9 million, the calls are meant to enhance digital connectivity infrastructures, particularly 5G and Gigabit networks, throughout the Union and support the country's digital transformation. Many European countries are working on initiatives to promote IT services adoption among businesses and public services.
Government-led programs aimed to provide resources, guidance, and incentives for organizations to adopt these services. For instance, the European Union's "Digital Europe" program aims to accelerate the digital transformation of Europe's society and economy. The program focuses on artificial intelligence, high-performance computing, cybersecurity, and digital skills development.
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Our clientele includes a mix of it services market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe it services market , including forecasts for subscribers. This continent databook contains high-level insights into Europe it services market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Europe it services market size, by country, 2017-2030 (US$M)
Europe IT Services Market Outlook Share, 2023 & 2030 (US$M)
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