The European market for information and communications technology will reach $1.1 trillion in 2022 and will continue to grow

The European market for information and communications technology will reach $1.1 trillion in 2022 a

International Data Corporation Europe: Analysts believe that the industry will continue to grow despite the geopolitical environment and the decline in consumer activity.

According to experts, this year's ICT spending on the European market will reach $1.1 trillion. If this forecast is met, it will increase by about 4% over the previous year.

In the next few years, CAGR is expected to be 5%, bringing the cost to $1.4 trillion in 2026.

The fastest growing segment will be software, with consumer and banking sectors, as well as discrete production, accounting for about 46% of total costs this year.