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Croatia Information Technology Report 2014

Croatia ICT market is forecast to expnd over the next five years due to EU integration


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2014-01-09 06:35:01 - Croatia Information Technology Report 2014 - a new market research report on companiesandmarkets.com

Croatia´s entrance into the EU was completed in July 2013, and this should be a key driver of ICT growth, facilitating increased trade between European markets. Over the next five years, the process of EU convergence, which still has far to go, will drive spending on IT projects. Funds such as the EU Cohesion fund are already providing funding for IT projects related to modernisation initiatives in both public and business segments. However, a modest recovery in private consumption will be insufficient to drive a significant economic recovery in Croatia in 2014, with fiscal consolidation and weak investment spending set to weigh on headline growth at just 0.6% in 2014. As the government remains the major investor in ICT in

 

 

Croatia, our IT forecast is subject to downside risk and IT spending levels are not expected to be regained until towards the end of our five-year forecast period.

The government is expected to be the fastest-growing Croatian IT spending vertical over the 2013-2017 period, due largely to EU-driven modernisation projects, which could see the government´s IT spend double by 2015. The combined government sector also remains the largest spender on IT products and services, unsurprising bearing in mind that the state still owns a wide range of companies across sectors like transport, telecoms, oil and gas, media and insurance.

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