In 2023, Italy led the European countries in the number of high-growth enterprises in the ICT sector with a 39.28% share. Hungary followed with 13.86%, while the Czech Republic and Portugal had 11.56% and 10.68%, respectively. Romania and Lithuania also showed notable shares, while Slovakia, Norway, Latvia, and Iceland had smaller shares.
From 2022 to 2023, Hungary recorded the highest year-on-year growth rate at 12.81%, with Slovakia and Italy also experiencing significant growth at 9.93% and 9.6% respectively. Other countries showed moderate increases, with Norway at the lower end of growth rates at 4.36%.
For future trends, stakeholders should monitor the continued growth in Italy and Hungary, as these regions display robust ICT enterprise development. Additionally, Eastern European countries like Romania and Latvia could represent emerging opportunities due to increasing digital transformation efforts. Watching regulatory changes and funding initiatives will be crucial for understanding potential shifts in growth patterns within the ICT sector across Europe.
Top countries in Number of High Growth Enterprises in ICT Share by Country (Units (Enterprises))
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 39.28 | 2023 | +12.84% | +9.6% | View data |
| 2 | 2 Hungary | 13.86 | 2023 | +12.29% | +12.81% | View data |
| 3 | 3 Czech Republic | 11.56 | 2023 | +5.9% | +7.68% | View data |
| 4 | 4 Portugal | 10.68 | 2023 | +13.72% | +10.61% | View data |
| 5 | 5 Romania | 6.96 | 2023 | +9.84% | +6.81% | View data |
| 6 | 6 Lithuania | 4.74 | 2023 | +11.22% | +4.73% | View data |
| 7 | 7 Slovakia | 3.97 | 2023 | +13.02% | +9.93% | View data |
| 8 | 8 Norway | 3.78 | 2023 | +1.11% | +4.36% | View data |
| 9 | 9 Latvia | 1.77 | 2023 | +4.94% | +7.58% | View data |
| 10 | 10 Iceland | 0.69 | 2023 | +3.13% | +5.71% | View data |
