The market for Information and Communication Technology is back to growth across the world. Europe is growing faster than the US and the UK is growing faster than the rest of Europe. But China is growing fastest of all.
According to figures from trade association Intellect, the European ICT market will grow by four per cent this year, compared to 3.3 per cent last year and just 0.9 per cent in 2003. There is strong growth in new EU member states as well as in the UK and Ireland. The figures come from Intellect's European Information Technology Observatory (EITO) 2005 edition.
The UK is doing better that the EU as a whole and the market is expected to grow 4.6 per cent this year. The US is out of the downturn too and is predicted to grow at 3.9 per cent. Japan, however, managed growth of just 2.7 per cent.
Growth in the ICT market for the rest of the world is expected to hit 6.9 per cent, mainly fuelled by China.
Accordingly, Intellect warned that the UK should not rest on its laurels because of rapidly increasing international competition, particularly from China and India.
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