Enterprise wallets to sustain European IT growth as devices lag
IT spending in Europe is set to hit $1 trillion by the end of 2023, and will see growth of 9.3 percent into next year, well up on this year's figure of 5.5 percent, according to stats from Gartner. The tech industry research house said Europe's IT spending would reach $1.1 trillion in 2024, driven by investments in software and IT services. Declining demand for devices — including laptops, desktops, phones and tablets — have created a drag on IT spending in the last couple of years. It is left to enterprise IT spending to drive growth in the tech industry, although Europe slightly lags the US in that regard, he said. "Europe tends to look at how things look before they leap a little bit more than the US, which is a much larger market," he said. Nonetheless, tech spending in Europe remains relatively recession-proof, regardless of concerning GDP figures across the continent.