The European IT services industry saw varying growth rates in 2023, with countries like Romania, Bulgaria, and Estonia outpacing others in year-on-year percentage growth, marking increases above 20%. Germany, France, and the United Kingdom remain the largest contributors to the output share in absolute terms, but smaller markets are expanding rapidly. Notable year-on-year percentage growth was observed in Switzerland, Belgium, and the Czech Republic, reflecting investment and innovation in these regions. The five-year CAGR further solidifies Eastern European countries as rising players, suggesting potential shifts in market dynamics.
Looking to future trends, continued digital transformation and investment in emerging technologies like AI and cloud computing will likely propel growth in IT services across Europe. As Eastern European countries continue to develop their tech infrastructures, their output shares are expected to rise. Additionally, sustainability and cybersecurity are anticipated to be key drivers influencing the IT services landscape across the continent.
Top countries in IT Services Output Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 21.42 | 2023 | +6.57% | +7.39% | View data |
| 2 | 2 France | 14.08 | 2023 | +7.49% | +7.85% | View data |
| 3 | 3 United Kingdom | 12.22 | 2023 | +2.34% | +2.27% | View data |
| 4 | 4 Italy | 7.32 | 2023 | +3.65% | +3.79% | View data |
| 5 | 5 Netherlands | 6.8 | 2023 | +8.52% | +8.3% | View data |
| 6 | 6 Switzerland | 5.27 | 2023 | +11.48% | +11.27% | View data |
| 7 | 7 Sweden | 5.16 | 2023 | +6.6% | +9.32% | View data |
| 8 | 8 Spain | 4.42 | 2023 | +3.25% | +4.02% | View data |
| 9 | 9 Belgium | 3.16 | 2023 | +9.94% | +10.64% | View data |
| 10 | 10 Poland | 2.97 | 2023 | +8.96% | +10.21% | View data |
