European Mobility Services Market Value to Reach Nearly $325 Billion in 2022, IDC Says

European spending on mobility solutions is forecast to reach $293 billion in 2018, according to a new update to the Worldwide Semiannual Mobility Spending Guide from International Data Corporation (IDC). IDC expects the market to post a five-year compound annual growth rate (CAGR) of 2.4 percent, leading to spending in excess of $325 billion in 2022.

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Western Europe (WE) accounted for 78 percent of total mobility spending in 2017 and will remain by far the largest contributor in the wider European region, with a CAGR of 2.7 percent for the 2017–2022 period. At the same time, mobility expenditure in Central and Eastern Europe (CEE) will grow at 1.2 percent.

"Western European companies now have a clear understanding of the benefit mobility technologies can deliver and are evolving their approach — focusing on applications integrated with enterprise systems," says Gabriele Roberti, research manager for IDC EMEA Customer Insights and Analysis. "In customer-centric industries, like financial services and retail, mobility is becoming a pivotal part of digital transformation." Among Western European countries, the United Kingdom, Germany, and France remain the top spenders on mobility technologies, accounting for more than half of the regional market.

Mobility plays a central role in enterprises' digital strategies for an agile business, increased competitiveness, and greater customer engagement. New mobility use cases and technology adoption among enterprises is driving growth in all market segments from devices to software and services.

“Central and Eastern European companies are adapting their business models to integrate mobility technologies, seeking more flexible company structures to foster innovation, improving the infrastructure and connectivity, and mitigating the security concerns,” says Petr Vojtisek, research analyst for IDC CEMA Customer Insights and Analysis.

Nevertheless, security and compliance are top issues for large mobility projects. Increased data usage is driving growth in mobile business services spending, with business-specific applications dependent on high-speed data connectivity.

Consumers will account for around 65 percent of European mobility spending throughout the forecast, with slightly more than half of this amount going toward mobile connectivity services, and most of the remainder going toward devices, mainly smartphones.

From a technology perspective, mobility services will be the largest area of spending throughout the forecast period, surpassing $190 billion in 2022. Within the services component, mobile connectivity services will continue to represent the largest portion, albeit with relatively flat growth, while enterprise mobility services will post a CAGR exceeding 14 percent. Hardware will be the second largest technology category, with spending forecast to reach $129 billion in 2022.

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