Greece ICT Market Size
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 8.72 Billion |
| Market Size (2030) | USD 15.71 Billion |
| CAGR (2025 - 2030) | 12.50% |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Greece ICT Market Analysis
The Greece ICT Market size is estimated at USD 8.72 billion in 2025, and is expected to reach USD 15.71 billion by 2030, at a CAGR of 12.5% during the forecast period (2025-2030).
Greece's ICT market is on a steady growth trajectory, fueled by a surge in digital transformation initiatives and robust government backing for technological progress. A rising demand for cloud services, cybersecurity solutions, and cutting-edge telecommunications infrastructure primarily fuels this growth.
- The Greek government's strategic investments and initiatives to enhance digital infrastructure and services propel the ICT market forward. For instance, Greece has a digital transformation project for 2023-2027 included in the “Greece 2.0” plan worth EUR 3.4 billion.
- Businesses increasingly adopt cloud solutions to improve efficiency and scalability, significantly driving the demand for ICT services. According to Eurostat, a European Government agency, in 2023, 23.6% of Greek enterprises purchased computing services like email, storage, security, etc.
- Companies across various sectors are increasingly adopting digital transformation to streamline operations, enhance customer experiences, and maintain competitiveness, thereby driving growth in the ICT market. For example, Greece is implementing comprehensive digitalization of its tax authorities, utilizing advanced methods to combat tax evasion (such as AI-driven controls and online freight monitoring), introducing electronic cash registers and POS systems, and adopting electronic invoicing for the private sector.
- The region's market is set to be propelled by advancements in 5G and internet technologies. As per the International Trade Administration, Greece has earmarked a substantial USD 176 million investment for its 5G network development, part of the 2023-2027 Greece 2.0 initiative.
- Greece's economic volatility poses a challenge to ICT investments, potentially dampening market expansion as businesses adopt a more conservative approach to technology spending. The European Commission's Spring 2024 Economic Forecast anticipates a 2.2% GDP growth in 2024, slightly increasing to 2.3% in 2025, aligning with typical growth patterns.
Greece ICT Market Trends
Rapid Deployment of 5G Network across the Nation will drive the Market
- The government's regional network expansion initiative propels Greece's 5G network. Notably, the National Broadband Plan for 2021-2027 advocates for fixed high-capacity and 5G networks. The Greek Digital Transformation Bible for 2020-2025 also underscores connectivity as a pivotal strategic focus, aligning with the Gigabit Society's 2025 objectives.
- The National Broadband Plan aims to achieve Gigabit connectivity for all key socio-economic sectors. It mandates that all buildings, whether in urban or rural areas, must have internet access, starting at a minimum download speed of 100 Mbps, with the potential for upgrades to 1 Gbps. Additionally, the plan targets 100% internet coverage for residents in urban and rural organized communities and ensures that all major land transport routes boast uninterrupted 5G coverage, offering a minimum download speed of 100 Mbps. Furthermore, the plan sets a goal for 50% of households to have internet connections, each with a minimum download speed of 100 Mbps.
- In addition to government efforts, private enterprises are actively participating in the Greek 5G market. Notably, in December 2023, Cosmote Mobile Telecommunications, a leading telecom service provider in Greece, rolled out its 5G+ standalone (SA) network. This already live network blankets 50% of Greece and aims to extend its coverage to 60% by the end of 2024.
- In July 2023, OQ Technology secured a EUR 1.1 million contract. The contract entails designing, building, integrating, testing, and showcasing three cutting-edge nanosatellites. These nanosatellites are set to offer a range of services, including space-based 5G narrowband internet-of-things communications, an optical communications link, and hyperspectral Earth observation data. These services are specifically tailored to bolster precision agriculture, aligning with the objectives of the ERMIS mission. ERMIS, also known as the Hellenic Cubesat Demonstration Mission, is a pioneering showcase of Greece's ambitions in the satellite arena. It's intricately tied to the nation's broader EUR 200 million national small satellite initiative, which envisions a constellation of such satellites.
- OpenSignal, an independent analytics company, reported that from March to May 2023, Cosmote led in 5G availability in Greece, with users able to connect to its network almost 19% of the time. Vodafone trailed behind, offering a 5G availability rate of around 9%.
The IT and Telecom industry will drive the Market
- IT and Telecom companies are at the forefront of digital transformation initiatives, pushing for modernization across various sectors and driving demand for cutting-edge ICT solutions in Greece. Greece is strategically transforming into a regional data and innovation hub. Microsoft's "GR for Growth" initiative is a key move in this direction. This initiative is slated to set up three data centers in the Attica region and aims to upskill 100,000 citizens in digital technologies by 2025.
- In February 2024, as reported by Trade Arabia, a business information portal, the UAE is establishing an investment framework for digital infrastructure, specifically targeting data center ventures in Greece. The data centers slated for development, as outlined in the memorandum of understanding (MoU), are set to boast a capacity of 500 megawatts collectively.
- Government projects and initiatives are key factors in Greece's ICT market development. For instance, according to the International Trade Association, Greece plans to invest USD 176 million for the development of 5G networks, USD 1.43 billion USD in the digital transformation of the public sector, and another USD 413 million USD for the digitalization of businesses, promoting the integration of digital technologies in SMEs.
- Furthermore, the plan will invest over USD 550 million USD to promote the digital transformation of the education and health system. In contrast, nearly USD 825 million USD will be invested in digital upskilling under the Greece 2.0 plan.
- Cybersecurity significantly challenges the region's IT and telecom market growth. As digital adoption surges, the demand for robust cybersecurity solutions escalates to combat the increasing cyber threats. SurfShark, a VPN services company, reported over 41,700 data breaches in Greece between October and December 2023.
Greece ICT Industry Overview
The Greece ICT Market is fragmented in nature. Some major players in the market studied are Google, Microsft, AWS, IBM, etc. Players in the market are adopting strategies such as partnerships, agreements, innovations, and acquisitions to enhance their service offerings and gain sustainable competitive advantage.
- April 2024 - Lancom and AMS-IX Forge Alliance to Elevate Greece's Network Connectivity. This collaboration is set to revolutionize Greece's connectivity landscape, promising enhanced performance and a smoother internet experience for all users.
- March 2024 - Microsoft has commenced the construction of a data center in Spata, located adjacent to Athens Airport. This initiative forms a pivotal component of Microsoft's strategic investment in Greece.
Greece ICT Market Leaders
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Google LLC
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Microsoft Corporation
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AWS
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IBM
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Oracle Corporation
- *Disclaimer: Major Players sorted in no particular order
Greece ICT Market News
- May 2024: Deutsche Telekom's Greek subsidiary, OTE Group, has inked a preliminary agreement to divest its Romanian mobile operations to an investment firm primarily owned by Digi Communications. This development follows OTE's disclosure six months earlier of talks with Quantum Projects Group about a similar transaction. However, the current deal sees OTE partnering with West Network Invest, a venture jointly owned by Digi Communications and Clever Media Group.
- May 2024: Grid Telecom, a wholly owned subsidiary of Greece's Independent Power Transmission Operator (IPTO), in collaboration with Quadrivium Digital, is set to construct a cable landing station (CLS) on Crete, a Greek island. This new CLS, situated within Quadrivium's upcoming 20MW data center campus, will serve as a pivotal node, anchoring international subsea cable systems from Asia and Africa as they traverse the Eastern Mediterranean.
Greece ICT Industry Segmentation
Information and communications technology (ICT) is a broad term encompassing information technology (IT) with a focus on integrating telecommunications (both wired and wireless) with computing systems. This integration includes essential components like enterprise software, middleware, storage, and audiovisual tools. The goal is to facilitate users' accessing, storing, transmitting, and effectively utilizing information.
The Report Covers Greece's ICT Market Companies and the Market is Segmented by Type (Hardware, Software, IT Services, Telecommunication Services), by Size of Enterprise (Small and Medium Enterprises, Large Enterprises), by Industry Vertical (BFSI, IT, and Telecom, Government, Retail and E-Commerce, Manufacturing, Energy and Utilities, Other Industry Verticals).
The Report Offers Market Sizes and Forecasts in Value (USD) for all the Above Segments.
| By Type | Hardware |
| Software | |
| IT Services | |
| Telecommunication Services | |
| By Size of Enterprise | Small and Medium Enterprises |
| Large Enterprises | |
| By Industry Vertical | BFSI |
| IT and Telecom | |
| Government | |
| Retail and E-commerce | |
| Manufacturing | |
| Energy and Utilities | |
| Other Industry Verticals |
| Hardware |
| Software |
| IT Services |
| Telecommunication Services |
| Small and Medium Enterprises |
| Large Enterprises |
| BFSI |
| IT and Telecom |
| Government |
| Retail and E-commerce |
| Manufacturing |
| Energy and Utilities |
| Other Industry Verticals |
Greece ICT Market Research Faqs
How big is the Greece ICT Market?
The Greece ICT Market size is expected to reach USD 8.72 billion in 2025 and grow at a CAGR of 12.5% to reach USD 15.71 billion by 2030.
What is the current Greece ICT Market size?
In 2025, the Greece ICT Market size is expected to reach USD 8.72 billion.
Who are the key players in Greece ICT Market?
Google LLC, Microsoft Corporation, AWS, IBM and Oracle Corporation are the major companies operating in the Greece ICT Market.
What years does this Greece ICT Market cover, and what was the market size in 2024?
In 2024, the Greece ICT Market size was estimated at USD 7.63 billion. The report covers the Greece ICT Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Greece ICT Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Greece ICT Industry Report
Statistics for the 2025 Greece ICT market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Greece ICT analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
