In 2024, Germany led European IT services with a value of 108.5 billion Euros, followed by France at 70.77 billion Euros and the Netherlands at 25.56 billion Euros. Austria's market value reached 9.16 billion Euros, Greece 1.55 billion Euros, and Cyprus 0.7866 billion Euros. The year-on-year changes for 2023 showed steady growth across various countries: Germany at 4.15%, France at 3.36%, the Netherlands at 3.21%, Austria at 5.11%, Greece at 3.9%, and Cyprus at 8.46%. Over a five-year span, a stable compound annual growth rate (CAGR) underscores overall positive momentum.
Future trends to watch for in European IT services include:
- Continued digital transformation in traditional sectors.
- Increased investment in cybersecurity services.
- Expansion of cloud computing and data management solutions.
- Emergence of AI and machine learning applications.
- Growth in IT services outsourcing and consulting.
Top countries in Value Added of IT Services by Country
| # | 6 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 108,500 | 2023 | +3.91% | +4.15% | View data |
| 2 | 2 France | 70,770 | 2023 | +3.13% | +3.36% | View data |
| 3 | 3 Netherlands | 25,560 | 2023 | +2.63% | +3.21% | View data |
| 4 | 4 Austria | 9,160 | 2023 | +4.35% | +5.11% | View data |
| 5 | 5 Greece | 1,550 | 2023 | +2.61% | +3.9% | View data |
| 6 | 6 Cyprus | 786.6 | 2023 | +5.15% | +8.46% | View data |
