The 2024 forecast data for European ICT output indicates significant country-wise variation. Ireland leads with the highest output at 23.6% of the total, followed by Cyprus at 16.1%, and Luxembourg at 10.7%. Nordic countries like Sweden (9%), Finland (5.5%), and Denmark (4.9%) display moderate outputs. Countries such as Germany, the Netherlands, and Romania hover close to 5%. Notably, smaller economies such as Albania and Montenegro exhibit lower values, with Liechtenstein at only 2.1% of the total.
Year-on-year analysis from 2023 shows substantial growth in Cyprus (12.84%) and Estonia (9.86%), while countries like Norway (-4.47%) and Italy (-1.63%) experienced declines. The five-year Compound Annual Growth Rate (CAGR) highlights steady growth in the ICT sector across most European nations, suggesting robust market development.
Future trends to watch include the potential for accelerated growth in emerging markets within Europe, increased digital transformation investments, and the impact of policy changes on ICT sectors. Additionally, the evolution of technologies such as 5G, AI, and cybersecurity will likely influence outputs significantly across European countries.
Top countries in ICT Output by Country
| # | 10 Countries | Percent of Total | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Ireland | 23.6 | 2023 | +1.29% | +4.65% | View data |
| 2 | 2 Cyprus | 16.1 | 2023 | +7.33% | +12.84% | View data |
| 3 | 3 Luxembourg | 10.7 | 2023 | +1.9% | +4.96% | View data |
| 4 | 4 Sweden | 9 | 2023 | +2.27% | +3.71% | View data |
| 5 | 5 Estonia | 8 | 2023 | +6.67% | +9.86% | View data |
| 6 | 6 Malta | 7.7 | 2023 | +1.32% | +2.22% | View data |
| 7 | 7 Bulgaria | 5.9 | 2023 | +1.72% | +3.37% | View data |
| 8 | 8 Romania | 5.6 | 2023 | 0% | +3.13% | View data |
| 9 | 9 Finland | 5.5 | 2023 | 0% | 0% | View data |
| 10 | 10 Serbia | 5.4 | 2023 | +1.89% | +1.96% | View data |
