The European IT market is flouting the credit crunch and is predicted to grow to 315 billion euro (US$475 billion) next year.
Strong sales in IT services will fuel two percent growth in the IT market in Western Europe, according to forecasts by the European Information Technology Observatory (EITO).
EITO predicts that software and IT service providers in the region will see turnover grow by 3.2 percent year-on-year, to 228 billion euro (US$344 billion), compensating for a 1.3 percent fall in turnover among hardware manufacturers, where turnover is expected to drop to 87 billion euro (US$131 billion).
The organization predicts that the 15 core countries in Western Europe will be better able to withstand the economic downturn than the United States, where IT turnover is forecast to grow by 0.8 percent to 347 billion euro (US$524 billion).
EITO chairman Bruno Lamborghini said IT will be of strategic importance to companies during the downturn by helping them to save cash and boost efficiency.
The global IT market for 2009 will grow year-on-year by 2.7 percent to 983 billion euro (US$1.5 trillion), according to the EITO forecast.
Nick Heath of Silicon.com reported from London.
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