Digital is crucial to ensure Europe’s competitive advantage in the global economy and deliver growth and jobs. Technology will offer EU businesses new opportunities to close the gap with their competitors at global level.
Innovations such as cloud services, data analytics improving efficiency in industrial processes and intelligent connected machines could add more than 2,000 billion euros to Europe’s GDP by 2030. Europe has lost ground in the digital sector over the last years and it is fundamental to reverse this trend.
Thanks to digital, by 2025, Europe could see its manufacturing industry add a gross value worth 1.25 trillion euros. Europe needs to invest in the digital economy and create the conditions to enable its future, open digital revolution and catch the opportunities ahead.
Facts and figures
- Completing the digital single market could raise EU GDP by at least 4%, or around 520 billion EUR at current prices. (Source: European Parliament)
- Single market e-commerce amounts to around EUR 204.5 billion a year (or 1.7% EU GDP). (Source: European Commission)
- In ICT, 17% of the world’s leading innovators come from the EU, compared to 52% who come from the USA. (Source: Bruegel, 2012)