Austria ICT Market Size

Austria ICT Market Analysis

Austria's ICT Market is expected to grow at a CAGR of 6% over the next five years. Increasing emphasis on digital technology and advanced technology, such as cyber security, artificial intelligence, and robotics, drives the market's growth. The ICT market across the Country is multiplying due to strong spending on hardware and software services by Austrian companies.

• The ICT sector includes both the IT and Telecom markets. IT investments are growing, and the ICT market demand is expected to grow significantly over the next five years. The increasing need to explore and adopt digital technologies and initiatives, the increase in the overall demand for digitalization and increasing IT infrastructure developments, the wide adoption of the 5G networks, and the rising penetration of technology investments are boosting the Austrian ICT market growth significantly.
• The government took initiatives to develop the ICT industry, which would drive new growth opportunities for the ICT market. For instance, NTT plans to expand its data center in Vienna, Austria. The Vienna 1 facility will be extended by about 3,000 sq m (32,300 sq ft), bringing it to 8,600 sq m. The facility will have a capacity of 15.2 MW. The federal government committed to investing worth USD 4.8 million in the project.
• Although information and communication technology (ICT) is everywhere, it plays a significant role in the Country's economic development. For instance, the Austrian Federal Government adopted the Artificial Intelligence Mission Austria 2030 (AIM AT 2030) Strategy to capitalize on Artificial intelligence (AI) possibilities for Austria and minimize the potential risks. Artificial intelligence is an essential key to being successful in digital change. Such government initiatives would bring new growth opportunities for the Austrian ICT market.
• The ICT industry significantly impacts Austria's GDP (Gross domestic product). According to the IMF (International Monetary Fund), Austria's GDP is expected to grow by USD 564.32 billion by 2027. The county's GDP is growing significantly with increasing IT investments that would create new growth opportunities for the Austrian ICT market.
• According to ITU (International Telecommunication Union), an internet user in Austria is expected to grow steadily from last year to 2028. According to the research, the Country's internet users increased by 7.89 million in the previous year. Also, Austria's internet users are expected to grow by 8.35 million users in 2028. The growing number of internet users would drive new growth opportunities for the Austrian ICT market.
• Due to the COVID-19 pandemic, a large portion of the Austrian population was forced to stay at home constantly, and many opted to work from home due to increased broadband consumption. Post COVID-19 scenario created an unexpectedly high demand for mobile, fixed broadband, fixed voice, pay-TV, and OTT services. Further COVID-19 pandemic accelerated digital transformation in Austria, creating new growth opportunities for the Austrian ICT market.