Technavio Forecasts IT Services Market size in Nordic to grow by USD 6.36 Billion between 2020 and 2025

NEW YORK, Jan. 20, 2022 /PRNewswire/ -- IT consulting and other services mainly include consulting, systems integration, and other services including information management and education and training, according to the latest research report of "IT Services Market in Nordic-Forecast and Analysis - 2021-2025."

Attractive Opportunities in 
IT Services Market in Nordic Countries by Service and Geography - Forecast and Analysis 2021-2025

In addition, IT consulting services help companies in the implementation of IT strategies and IT-business alignment aiding solutions to drive IT initiatives in business processes.

Key Home Furniture Market in the US Report Highlights:

  1. Market growth 2020-2025: USD 6.36 billion
  2. Growth momentum & CAGR: Accelerate at a CAGR of 4.04%
  3. YoY growth (%): 3.85%
  4. Performing market contribution: Sweden at 36%
  5. Key consumer countries: Sweden, Denmark Norway, and Rest of Nordic

Want more data and information that is not included in this report? Reach out to our analysts and get this report can be personalized according to your needs. Speak to an Analyst.

Regional Market Analysis

With 36% of the growth originating from Sweden, this economy will record a fast growth rate from 2020 to 2025.

The traction in services such as system integration, information management, and education and training are significantly boosting the adoption of cloud-based deployments.

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

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

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

For Additional Information about the regional market: Request for a free sample report.

Key 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. are few of the key vendors in the IT services market in Nordic.

The vendors in the market 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 instance:

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

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

Key Market Drivers

Our analysts have extensively outlined the information on the key market drivers and their impact on the IT services market.

  • Increase in the adoption of edge computing:
    • Owing to the rollout of 5G telecommunication networks, the demand for edge computing is significantly rising in the Nordic regions.  Moreover, the introduction of advanced high-capacity edge computing is expected to further drive the growth of IT services in the region. As stated by IBM Corp. in Nordics, 5G network will be accessible in all the major cities, and by 2023 all the countries across the region are estimated to obtain almost 100% nationwide 5G coverage. Thus, the implementation of 5G network will enhance the adoption of edge computing resulting in improved performance and data security, improved digital experience which in turn is expected to drive the IT services market in the Nordic region during the forecast period.

To know about a few other market drivers, trends, and challenges.

Download our free sample report

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IT Services Market Scope in Nordic Countries

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.04%

Market growth 2021-2025

$ 6.36 billion

Market structure

Fragmented

YoY growth (%)

3.85

Regional analysis

Nordic Countries

Performing market contribution

Sweden at 36%

Key consumer countries

Sweden

Competitive landscape

Leading companies, CompetITive strategies, Consumer engagement scope

Key companies profiled

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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condITion analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

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SOURCE Technavio

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