ICT spending in Europe to grow 2.8% in 2023 to $1,184 bn

ICT spending in Europe is expected to grow by 2.8 percent in 2023 in constant currency terms, reaching $1,184.5 billion.
ICT spending in EuropeSoftware and services investments in Europe will continue to grow, exceeding the growth of overall ICT spending.

Cloud migrations in Europe will accelerate, as many companies will try to mitigate the adverse effects of the impending recession and its accompanying disruptions.

Platforms such as AI and business intelligence in Europe will continue to receive heightened attention as they enable organizations to attain a competitive edge, says IDC report.

Approximately 58 percent of software spending — i.e., applications, application development and deployment, and system infrastructure software — is forecast to go through the channel.

However, the increasing number of companies transitioning to cloud will continue to make the direct channel an important source of revenue generation to vendors.

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