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Digital economy in Europe - Statistics & Facts

The digital economy is the economy in terms of computing technologies, and it is fueled by tech businesses and its employees. It is estimated that the digital ICT market revenue in Europe will reach approximately 1,085 billion euros by 2019.
The digital economy includes an array of sectors, many of which are not necessarily identifiable because they are included in day to day activities of other sectors. Almost every industry utilizes digital technology in one way or another, hence its huge presence. The value added by the telecommunications sector in the Netherlands, for example, was estimated to be approximately 7.95 billion euros in 2014, and the IT service sector almost double of that. The largest telecommunications company in the Nordics region employs a total of 35 thousand.

When looking at the future value of the absorption of artificial intelligence by the economy in France, it was predicted that intelligent automation would create a gross value added (GVA) of approximately 320 billion U.S. dollars by the year 2035. The GVA for augmentation in Spain was predicted to reach 51 billion U.S. dollars, and a total of 93 billion U.S. dollars for artificial intelligence in Belgium by 2035.

Businesses related to the sector are also booming. In the UK, the number of data processing, hosting and related activities businesses has been increasing. This can also be said for the number of computer repair businesses, software publishing businesses, and computer programming and consultancy businesses. In 2015, there were a total of 223 mergers and acquisitions deals in the IT consulting sector in Europe.

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