Digital, Italian market at +2.7%: sprint from software and services

The Italian digital market is growing. The Innovation Group report estimates the growth in 2023 it is +2.7% and it is expected to continue growing at the same rate in 2024.

In the period 2020-2021, an “anti-cyclical” trend between the digital sector and the gross domestic product was recorded for the first time, since the pandemic situation forced the rapid reorganization of companies and the wide diffusion of remote work, which in turn led to a strong acceleration of investment in new technologies.

The impact of the new normal

Starting in 2022, with the gradual establishment of a “new normal” situation, the digital market as a whole has instantly aligned with the GDP trend. Growth forecasts are, of course, conditioned by various factors, starting with PNR investments – which should account for three quarters of GDP growth in 2024 – and the overall economic situation, including the impact of inflation and geopolitical instability, which at the moment has no tendency to decrease.

November 21, 2023 – 12:00 p.m

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Until the progressive flattening of the sector hardware (from +2.0% annual growth in 2023 to +0.9% expected in 2024) contrasts with the increase in sectors software (+5.6% in 2023 and +6.2% in 2024) e services (+2.7% in 2023 and +2.8% in 2024).

Where you should invest

Especially in this phase of “systemic uncertainty”, investments in digital transformation are destined to take a driving role in the growth of the economy. The ICT industry must therefore pay special attention to reorientation to “fast areas”. By looking at the various segments in detail, the analysis focuses on New digital drivers, newer technologies or those that have experienced strong development in recent years that can drive the growth of the digital market: Artificial Intelligence (AI), Blockchain, Cloud Services, Cybersecurity, Internet of Things, Wearable Technology (wearable devices). l’ACCORDING TO plays a medium-long-term strategic role, with already very high growth rates (+29.4% in 2023 and +27.6% in 2024). There Blockchain showed a similar trend to AI (+27.5% in 2023 and +25.5% in 2024), while still maintaining a relatively marginal role in the market. THE Cloud services (+20.1% in 2023 and +19.5% in 2024), still show an upward trend. There Cyber ​​security is also growing (+14.6% in 2023 and +15.3% in 2024), reflecting the increasing importance of the topic of digital security. Growth fromInternet of Things (IoT) remained relatively stable (+8.7% in 2023 and +8.8% in 2024), while the wearables sub-sector tends to slightly slow down its growth rate (+5.6% in 2023 and +5, 3% in 2024).

“Digital transformation is no longer just an option, but in perspective it is a fundamental need to guarantee the country’s competitiveness and strategic positioning in the ever-evolving global landscape – Roberto Masiero, President of The Innovation Group – From this perspective, the digital market can play the role of a real catalyst of the economy, especially in a macroeconomic context in which digital transformation is gaining more and more importance. Digital technologies have actually shown that they can increase productivity, improve operational efficiency and drive innovation, creating a significant impact on the entire economic system.”

Therefore, digital investment policies play a key role in supporting GDP growth. Targeted investments enable the modernization of digital infrastructure, the implementation of digital training strategies and the adoption of state-of-the-art technologies, which are all factors that contribute to strengthening the country’s competitiveness, he pointed out.

Key technologies

Italian companies are very well positioned in the Cloud area, 52% of companies use it compared to 34% of the European average; as a large manufacturing country, Italy can also count on a good level of basic digitization in its SMEs (70% compared to 69% of the European average) and this can be attributed to the progress made thanks to Industry 4.0.

However, it needs to improve its position in the areas of artificial intelligence (used by 6% of companies vs. 8% in Europe) and Big Data (9% vs. 14%). There is room for improvement in the provision of public services to citizens (68% compared to 77% of the European average) and businesses (75% compared to 84%).

Therefore, it not only highlights, but also areas for improvement in the Italian digital scenario, which the European Commission’s Desi 2022 Index (Digital Economy and Society Index) places at 18th place in the international ranking.

The skills gap

It is particularly worrying emptiness skill. On the front side training of citizens and workforce: We need to close the skills gap by increasing digital training and education to increase the quality of the workforce and drive innovation. Italy must devote itself to strengthening basic digital skills: only 46% of citizens own them, compared to the European average of 54%.

Furthermore, the share of people with tertiary education in the total workforce is about six percentage points lower than the European Union average, as data on people employed in the scientific and technological field confirm Italy’s delay (equal to 18.4% of the total workforce, compared with 23% in Europe).

“The continuous development and adoption of new digital drivers offers wide opportunities for improvement and has the potential to have a positive impact on the entire Italian digital market, with significant consequences for the overall GDP trend – concludes Masiero – The correct valorization and effective implementation of this technology can lead to a further shift towards innovation and competitiveness at the national level”.


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