Technavio forecasts the size of the IT services market in the Nordics to grow by USD 6.36 billion between 2020 and 2025

Key US Home Furniture Market Report Highlights:

  1. Market Growth 2020-2025: $6.36 billion
  2. Growth momentum and CAGR: acceleration to a CAGR of 4.04%
  3. Annual growth (%): 3.85%
  4. Contribution to successful market: Sweden at 36%
  5. Main consumer countries: SwedenDenmark Norway and rest of the Nordic countries

Want more data and insights not included in this report? Contact our analysts and get this customizable report according to your needs. Talk to an analyst.

Regional Market Analysis

With 36% of growth coming from Swedenthis economy will register a rapid growth rate from 2020 to 2025.

The rise of services such as systems integration, information management, education and training is significantly driving the adoption of cloud-based deployments.

  • The growth of the IT services market in Sweden is positively impacted due to the strong presence and entry of leading market vendors such as Accenture Plc, Microsoft Corp. and International Business Machines (IBM).

In addition, the country’s IT industry includes companies that mainly focus on the development of hardware, software and digital IT services (game development, international music streaming service, digitization of financial services).

  • Moreover, the integration of cloud-based services, automation solutions and AI with operational activities results in the development of new intelligent IT services in Sweden.

For additional regional market information: Request a free sample report.

Top Vendors and Vendor Strategies

Accenture Plc, Capgemini SE, CGI Inc., Dell Technologies Inc., DXC Technology Co., Eltel AB, Hewlett Packard Enterprise Co., International Business Machines Corp., Tata Consultancy Services Ltd. and TIETOEVRY CORP. vendors in the IT services market in Scandinavia.

Market vendors are constantly investing in R&D to advance their offerings and grow their customer base. Additionally, vendors are focusing on expanding their presence in new regions.

For example:

  • In March 2021Accenture has entered into an agreement to acquire Cygni, a Swedento enhance Accenture Cloud First capabilities and further enhance IT consulting services in the Nordic region.
  • In July 2021Capgemini SE has partnered with CONA Services LLC to develop digital solutions for the consumer products industry.

Download our free sample report to get a brief understanding of various other vendors and vendor strategies.

Key Market Drivers

Our analysts have detailed insights into the major market drivers and their impact on the IT Services market.

  • Increased Adoption of Edge Computing:
    • Due to the deployment of 5G telecommunication networks, the demand for edge computing is increasing significantly in the northern regions. Moreover, the introduction of high-capacity edge computing is expected to further boost the growth of IT services in the region. As reported by IBM Corp. in the Nordic countries, the 5G network will be accessible in all major cities, and by 2023, all countries in the region are expected to achieve nearly 100% nationwide 5G coverage. Thus, the implementation of 5G network will improve the adoption of edge computing, which will result in improved performance and data security, enhanced digital experience which, in turn, is expected to drive the market. IT services in the Nordic region during the forecast period.

To know some other market drivers, trends and challenges.

Download our free sample report

Related reports:

Data Entry Outsourcing Services Market by End User and Geography – Forecast and Analysis 2021-2025

Passenger Information System Market by Transportation Mode and Geography – Forecast and Analysis 2021-2025

Nordic IT Services Market Scope

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 4.04%

Market Growth 2021-2025

$6.36 billion

Market structure

Fragmented

Annual growth (%)

3.85

Regional analysis

Nordic countries

Successful market contribution

Sweden at 36%

Main consumer countries

Sweden

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled Key Companies

Accenture Plc, Capgemini SE, CGI Inc., Dell Technologies Inc., DXC Technology Co., Eltel AB, Hewlett Packard Enterprise Co., International Business Machines Corp., Tata Consultancy Services Ltd. and TIETOEVRY CORP.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Condition Analysis for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/

SOURCETechnavio

Comments are closed.