Europe is the third largest geography for DX spending, after the United States and China. Four industries will be responsible for nearly 44 percent of the $256 billion in European DX spending in 2019 — discrete manufacturing ($39 billion), process manufacturing ($25 billion), retail ($26 billion), and utilities ($23 billion).
“In 2018, overall investment into digital transformation reveals a significant gap between, on the one hand, the US ($437 billion) and China, and on the other, Europe, the Middle East and Africa ($280 billion combined). This points towards a potentially major economic gap arising.”
“Variations on the digital challenger bank model championed in Europe are spreading globally with new entrants targeting niche customer pain points. Collectively this year, startups in our market map have raised over $1.7B in venture capital.”
via CB Insights
According to IDC’s new Worldwide Semiannual Blockchain Spending Guide, Europe will be the second-largest investor in blockchain technologies, with a compound annual growth rate (CAGR) of 80.2% for 2017–2022, closing the gap with the U.S., the biggest blockchain investor.
Both the private and public sectors are looking at AI to streamline processes and enhance customer and citizen experience. As a result, Western European Cognitive or AI Systems spending is poised to ramp up even further, reaching $10.8 billion by 2022 – that’s a 39% five-year CAGR.
The United States will see the largest blockchain investments and deliver more than 36 percent of worldwide spending throughout the forecast. Western Europe will be the next largest region for blockchain spending, followed by China and Asia-Pacific (excluding Japan and China).
Europe will be the second-largest investor in blockchain technologies. With a compound annual growth rate (CAGR) of 80.2% for 2017–2022, Europe will increase its spending from around $400 million in 2018 to $3.5 billion in 2022, helping it to close the gap with the U.S. market, the biggest blockchain investor.
Complying with GDPR is a multifaceted undertaking that involves companies getting permission for various things, such as user tracking and data transfers. As the effects of the law begin to unravel, ad buyers, publishers, and tech firms have accused each other of passing the buck when it comes to obtaining user consent.
Information technology (IT) investment within the Europe, Middle East and Africa (EMEA) region is on track to further growth. IT spending in EMEA is forecast to reach $1 trillion in 2018 — that’s an increase of 4.9 percent from 2017, according to the latest market study by by Gartner.
Source: Digital Lifescapes