Market Size of France ICT Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 7.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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France ICT Market Analysis
The France ICT market is expected to register at a CAGR of 7.7% over the forecast period. France's increased emphasis on digital technology, AI, cyber security, robots, and healthcare IT is considerably driven the industry. Additionally, the increased need for digital technologies and initiatives, digitalization, scalable IT infrastructure, the widespread use of the 5G network, and the growing penetration of technology giants are all considerably boosting the market's growth.
- Moreover, the rise in digital transformation in France is expected to drive the ICT Market significantly. Sectors, especially France's education and training systems, are well-transformed to meet the rising social and economic digital transformation needs. In particular, education and training institutions are being extensively equipped with various digital tools and infrastructures, new digital platforms are being developed to facilitate and enhance online learning, and digital inclusion measures are being highly implemented for the benefit of the most vulnerable people in France. These measures are incredibly vital to maximizing the digital skills levels, contributing to France reaching the Digital Decade target of about 80% of people with at least basic digital skills by 2030.
- Also, the market is witnessing various significant partnerships within the country, driving growth exponentially. For instance, in October 2021, Insight SIP, in collaboration with the French Southern Region Future Investment initiative, announced further development of its IoT security program. The expert in miniature RF modules with built-in antennas, Insight SIP, announced that it had received funding from the French government and the Southern regional government as a significant component of the "Regional Investment Program for the Future" that will enable it to advance its IoT security program.
- As per Eurostat, in 2021, France's overall share of daily internet users reached around 78%. Also, the year 2021 represented a peak in the percentage of daily internet users in France. This rise in the overall usage of online users within the country is expected to create ample growth opportunities within the market, enhancing the overall growth of the market vastly.
- However, due to the fragmented market aspect, the rising frequency of data breaches, and the nation's reliance on outside sources to compensate for the talent gap might impede market growth in France.
- Despite the COVID-19 pandemic negatively influencing France's digital transformation, businesses are realigning their IT strategies, automating operations, controlling operational expenses, and putting new technologies into place for better and enhanced efficiencies. Additionally, various advanced technologies like blockchain, artificial intelligence, big data, machine learning, cloud computing, the internet of things, robotic process automation, cybersecurity, and augmented/virtual reality are significantly assisting in achieving these objectives in the post-COVID-19 scenarios.
