The data from 2023 indicates that Hungary leads with 89 young high-growth ICT enterprises, followed closely by Italy and Portugal with 71 and 61, respectively. Romania and the Czech Republic also show strong presence with 55 and 45 gazelles. Slovakia has experienced a significant year-on-year growth of 29.67%, whereas Latvia shows even higher growth potential with an impressive 41.88% increase. Norway and Iceland, however, have relatively fewer gazelles, with only 6 and 5 enterprises each in 2023.
Looking ahead, continued digital transformation and increased investment in ICT are key trends to watch. Countries with rapid growth rates, such as Slovakia and Latvia, could play a crucial role in driving Europe's digital economy forward. Watch for emerging technologies and supportive governmental policies to further cultivate high-growth enterprises in the ICT sector across the region.
Top countries in Number of Young High Growth Enterprises (Gazelles) in ICT by Country
| # | 10 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 89 | 2023 | +18.67% | +21.22% | View data |
| 2 | 2 Italy | 71 | 2023 | +5.97% | +9.55% | View data |
| 3 | 3 Portugal | 61 | 2023 | +10.91% | +11.75% | View data |
| 4 | 4 Romania | 55 | 2023 | +12.24% | +8.85% | View data |
| 5 | 5 Czech Republic | 45 | 2023 | +9.76% | +14.37% | View data |
| 6 | 6 Slovakia | 44 | 2023 | +22.22% | +29.67% | View data |
| 7 | 7 Latvia | 23 | 2023 | +21.05% | +41.88% | View data |
| 8 | 8 Lithuania | 23 | 2023 | +9.52% | +3.9% | View data |
| 9 | 9 Norway | 6 | 2023 | 0% | +24.57% | View data |
| 10 | 10 Iceland | 5 | 2023 | +25% | +13.62% | View data |
