Source page: McKinsey & Company
Commentary
A slower tech tempo in Europe
Europe | Telecommunications | Technology
June 25, 2025 – Revenue growth for the technology, media, and telecommunications (TMT) sector has been slower in Europe than in the rest of the world. Between 2000 and 2023, Europe experienced an annual growth rate of 4 percent, while the rest of the world saw 7 percent growth, explain Senior Partner Ruben Schaubroeck and coauthors. If European TMT companies were to focus on key areas such as AI and next-generation software, data infrastructure, and content and commerce, they could generate as much as $800 billion in incremental value by 2030.
To read the report, see “Technology, media, and telecom in Europe: The new growth engine or another decade of missing out?,” May 21, 2025.
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Visual form
Two-panel stacked bar comparison with CAGR side labels.
Layout / body structure
The chart is split into a Europe panel on the left and a rest-of-world panel on the right. Each side shows stacked bars for 2000, 2014, and 2023, with a CAGR list printed beside the latest bar to show growth rates by segment.
What is being compared
It compares technology, media, and telecommunications revenue growth in Europe versus the rest of the world, and it also compares how the three TMT components – technology, media, and telecommunications – contribute to the total in each geography.
Measurement system
The bars are measured in trillions of dollars, while the side labels report CAGR from 2000 to 2023 in percent. Colors stay consistent across both panels so the reader can track technology, media, and telecommunications separately.
Visible structure inside the graphic
Europe rises from 0.4 trillion in 2000 to 0.9 in 2014 and 1.1 in 2023, with the latest stack broken into 0.5 technology, 0.2 media, and 0.4 telecommunications. The rest-of-world panel grows from 1.5 to 4.8 to 8.2, with a 2023 split of 5.2 technology, 1.5 media, and 1.4 telecommunications. Beside the 2023 bars, the CAGR list shows Europe at 6, 3, and 3 versus the rest of the world at 7, 10, and 6 for technology, media, and telecommunications.
Main takeaway from the visual
The chart shows that Europe has grown meaningfully in TMT revenue, but far more slowly than the rest of the world, and the biggest gap is visible both in total scale and in the segment growth rates.
Key standout values or extremes
Europe grows at about 4 percent per year overall from 2000 to 2023, while the rest of the world grows at 7 percent. By 2023 the rest of the world reaches 8.2 trillion dollars versus Europe’s 1.1. Media is the most striking growth gap, at 10 percent CAGR outside Europe versus 3 percent inside Europe.
Controls / sequence, when applicable
This is a static chart image with no in-chart controls to operate.
Companion media, when applicable
There is no separate companion audio or video; the chart image is the full visual on this page.