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The growth rate of the UK’s market for information and communications technology is tipped to outpace any other country in Western Europe by the end of 2006. Buoyed by the rapid uptake of broadband networks, the UK is on track to achieve 4.2 per cent growth in the ICT market, to surpass the European average of 3.2 per cent. Trailing only to the ballooning ICT market in Asia, development of software, services and digital networks in the UK will even outpace the US market, expected to grow at 3.9 per cent. In particular, the “healthy” market forecast for the UK reportedly finds software will rise 6.1 per cent; IT services will climb 5.1 per cent, while hardware and telecoms will grow 3.9 per cent and 3.6 per cent respectively. The strongest growth, however, is currently being seen in the new EU member states, where for example Slovakia is predicted to expand its ICT market by a massive 7.6 per cent by the year-end. Adoption of e-services and digital networks in new accession countries have revived Europe’s ICT market share to 33.6 per cent, though increasing investment has had little impact overall and the market is slowing. The data, unveiled by the European Information Technology Observatory (EITO), shows in terms of information technology share, the US still dominates the world with 37 per cent, compared to Europe’s 35 per cent. However in terms of telecommunications, European nations comfortably beat the US in terms of market share for 2005, though expectations are the superpower will accelerate its adoption rate over the next two years. By 2007, the US is expected to have grown its telecommunications market by almost double the rate of Europe’s, yet by the end of 2006 the continent will own 12 per cent more of the global market. Premium spending on ICTs, including telecommunications, by countries such as Sweden and Denmark will continue apace, to overshadow expenditure in the UK, while driving up telecommunications adoption. “Showing the highest level of innovation within the ICT industry the telecommunications sector is the most active driver of digital convergence and thus strengthens Europe’s competitive role in the digital scenario”, said EITO Chairman, Bruno Lamborghini. “Europe, however, should take more advantage of the new market potential offered by the diffusion of broadband networks and by digital convergence linked to the Internet,” he added. “The increasing speed of technological progress in the global markets requires immediate action as every day the competitiveness divide between those who move fast and those who are sitting still becomes wider.” In particular, the Observatory claims 2006 will see sustainable and innovative P2P networks develop, with “new business opportunities” for the production and distribution of digital content thanks to the creation of cost-effective business models. Mar 14, 2006 Email this article Printer friendly page Previous Page
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