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Strategy Briefing
Business Services in Western Europe
Jan 2018
US$1,325Added to Cart
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About This Report
New Report Guarantee
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Western Europe is the world’s second largest business services market, accounting for almost 30% of global business services revenues. After a period of stagnation, future turnover growth is expected to recover due to the Single Market Strategy implementation which will help to improve the business environment in Europe. Although Germany will remain the largest business services market in Western Europe, smaller economies will show the strongest growth over 2016-2025..
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Overview
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Business services revenues are expected to post flat growth over 2016- 2025
Western Europe is the world’s second largest business services market after North America. Industry performance has been subdued due to political uncertainty in Europe, Brexit, low productivity growth and existing regulatory barriers in 2016-2017. However, business services are projected to recover and reach a CAGR of 1% over 2016-2025 due to the Single Market Strategy’s measures aimed to improve the business environment and competitiveness.
Business services growth in the largest economies will remain limited
Although Germany is estimated to remain the largest business services market in Western Europe, its CAGR is forecast to reach only 1% over 2016-2025. France, the UK and Italy are also expected to witness flat growth. Computer and related services will be the fastest growing category in major economies except for Italy; it will face the most noticeable slump due to weak economic prospects and shortage of qualified workers.
Smaller economies will witness the strongest growth
Business services in Belgium is expected to grow most significantly in absolute terms over 2016-2025, while Luxembourg is projected to witness the strongest growth of 5% CAGR over the same period. Finland and Ireland will also face significant expansion, each with a CAGR of 4% over the forecast period, as they are among the most innovative economies and provide business-friendly environments.
SMEs are the backbone of Western Europe’s economy
Due to the European Commission’s various initiatives aimed to support entrepreneurship, remove regulatory barriers and improve access to new markets, the performance of SMEs strengthens, thus business services industries continue to be highly fragmented in Western Europe. SMEs account for more than 95% of the total number of firms in the business services industries.
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Introduction
Scope
Key findings
Production Outlook
Western Europe - second largest business services market globally
After stagnation, industry will recover in 2018
Limited growth prospects in the major Western Europe economies
Smaller economies will witness the strongest growth
Computer and related services will expand substantially over 2016-2025
Western Europe specialises in c omputer and business consulting services
Competitive Landscape
High fragmentation caused by dominant position of SMEs
SMEs play major role in business services in Germany
SMEs play major role in business services in France
SMEs play major role in business services in the UK
Country Snapshots
G ermany: production context
France: production context
UK: production context
I taly: production context
Spain: production context
Belgium: production context
Netherlands: production context
Switzerland: production context
Sweden: production context
Ireland: production context
Austria : production context
Turkey: production context
Norway: production context
Denmark: production context
Finland: production context
Portugal: production context
Luxembourg: production context
Greece: production context
Cyprus: production context
Appendix: Competitor Analytics
Competitor Analytics tool
Overview
Competitors
Market Overlap
Treemap
Overlap Matrices
Appendix: Industry Forecast Model
About Euromonitor International’s Industry Forecast Model
Soft drivers and the Industry Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Industry Forecast Models
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
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