IT investments to grow strongly in western Europe, says IDC

Corporate IT Update, April, 2000

CORPORATE IT UPDATE-(C)1995-2000 M2 COMMUNICATIONS LTD

A new report by IDC predicts that technology investment in western Europe will increase 10% this year and 11% next year as European companies begin to march ahead of their competitors in North America and Asia in many crucial technology areas.

Driven by the rise of the Internet and e-business the IT services market is expected to grow 13% this year in western Europe while the software and server markets are expected to increase by 14% and 8% respectively.

According to the research strong growth in technology investment will continue across the region throughout the forecast period that extends to 2003. The UK will remain one of the most dynamic IT markets in the world growing 11% this year and catching up with Germany by 2003 in terms of technology investment.

Strong technology investment growth is also expected in several other western European countries this year, including France (11%), Sweden (10%), Spain (12%), Greece (11%), Ireland (14%), Italy (11%) and Portugal (11%).

((Comments on this story may be sent to info@m2.com))