Even though the IT market in
“IT spending in
With foreign currency fluctuations, high oil prices, and elevated unemployment continuing to buffet
In 2004, the Western Europe IT market grew by 12% in U.S. dollar terms due to the strength of the euro against the dollar, but by only 3% in euro terms, IDC claims. Currency fluctuation also impacted the European market in other ways, ranging from pricing to sourcing strategies. Packaged software markets enjoyed the fastest growth as the market recovered gradually from the downturn of 2001–2003.
“In the long term, we still expect the European IT market to rebound to healthy growth rates in the next few years,” said Mr. Warmerdam. “As the economy improves, business managers will again start to recognize the benefits of investments in new applications, business intelligence, and dynamic IT solutions. In the short term, however, it seems that the current mood of economic uncertainty and ‘good-enough computing’ will inhibit overall market growth in 2005.”
The IDC European Black Book is updated every quarter with market sizing and forecasts for the European IT Market Hardware Software and Services.