European IT sector set to defy economic gloom

Demand within the European IT, telecoms and digital consumer electronics markets will remain buoyant in 2008 despite wider economic uncertainty across the continent, according to a new report.

Research by the European Information Technology Observatory (EITO) suggests that the sector will experience growth of three per cent, taking overall spending to £600 billion.

This momentum will be carried over into 2009, which will see a further 2.4 per cent expansion taking total expenditure to £615 billion.

EITO chair Bruno Lamborghini claimed that a strong foundation will enable the European IT industry to thrive in future.

He said: "Based on solid growth in the European market and their enormous potential in know-how, European companies are well positioned to excel in global competition."

A recent study by Forrester Research found that UK firms signed IT outsourcing deals worth £3.8 billion last year.

British companies now account for almost half of the deals listed across Europe, which now comprises over 50 per cent of the global outsourcing sector.

Posted on: 2008-05-13, in: Hardware

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