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IT Services Market in Nordic Countries to Record a CAGR of 4.04%, Several New Players to Enter the Market - Technavio

NEW YORK, Aug. 8, 2022 /PRNewswire/ -- The "IT Services Market in Nordic Countries by Service and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The potential growth difference for the IT services market size between 2021 and 2026 is USD 6.36 billion. To get the exact CAGR and the Y-O-Y growth rate, Request a FREE PDF Sample Report

Technavio has announced its latest market research report titled IT Services Market in Nordic Countries by Service and Geography - Forecast and Analysis 2022-2026

Key Market Dynamics:

  • Market Driver: The growing adoption of edge computing is driving the growth of the market. The rollout of 5G telecommunication networks is driving the demand for edge computing in the Nordic region. The emergence of advanced, high-capacity edge computing has also fueled the growth of the IT services market in the region. In addition, many countries are expected to have nationwide 5G coverage. This will create opportunities to enhance digital experiences, improve performance and data security services, and enable continuous operations in every industry. The increasing need to improve performance, control operating costs, and enhance the reliability of applications and IT services has increased the adoption of edge computing.
  • Market Challenge: The risks involved in outsourcing will challenge the market. Outsourcing can lead to a loss of control. A few organizations may lose control over their financial and supply chain functions after outsourcing due to the risk of not being able to operate independently and successfully. In addition, procurement outsourcing functions may result in the loss of sensitive information. Effective communication with clients is needed to deliver services timely, reduce outsourcing risks, and build trust. The lack of communication and a large number of risks associated with engaging with outsourcing services can impede the growth of the IT services market in Nordic countries.

Technavio offers key trends, challenges, and drivers that will shape the future of the market, View FREE PDF Sample Report

Market Segmentation

The IT services market report is segmented by service (IT consulting and other services, Internet services and infrastructure, and data processing and outsourced services) and geography . Sweden will be the leading region with 36% of the market's growth during the forecast period.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

Vendor Landscape

The IT services market in Nordic Countries is fragmented. Vendors are deploying growth strategies such as continuously investing in R&D to advance their offerings and increase their consumer base to compete in the market. Several new players are expected to enter the market during the forecast period. This will increase competition among market vendors. IT service providers offer services relevant to any process in the value chain of businesses, such as finance, marketing, operations, global relations, and customers. Hence, vendors are developing new solutions to meet the dynamically changing demands of consumers.

Some Companies Mentioned with their Offerings

  • Accenture Plc
  • Capgemini SE
  • CGI Inc.
  • Dell Technologies Inc.
  • DXC Technology Co.
  • Hewlett Packard Enterprise Co.
  • Infosys Ltd.
  • International Business Machines Corp.
  • Tata Consultancy Services Ltd.

Want your report customized? Speak to an analyst and personalize your report according to your needs.

Related Reports

Managed IT Infrastructure Services Market by End-user and Geography - Forecast and Analysis 2022-2026

IT Services Market by Service and Geography - Forecast and Analysis 2021-2025

IT Services Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 4.04%

Market growth 2022-2026

USD 6.36 billion

Market structure


YoY growth (%)


Regional analysis

Nordic Countries

Performing market contribution

Sweden at 36%

Key consumer countries

Sweden, Denmark, Norway, and Rest of Europe

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Capgemini SE, CGI Inc., Dell Technologies Inc., DXC Technology Co., Hewlett Packard Enterprise Co., Infosys Ltd., 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 future consumer dynamics, and 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.

Browse Information Technology Market Research Reports

Key Topics Covered:

1. Executive Summary                        

              1.1 Market Overview

                             Exhibit 01:  Key Finding 1

                             Exhibit 02:  Key Finding 2

                             Exhibit 03:  Key Finding 3

                             Exhibit 04:  Key Finding 5

                             Exhibit 05:  Key Finding 6

2. Market Landscape                          

              2.1 Market ecosystem            

                             Exhibit 06:  Parent market

                             Exhibit 07:  Market characteristics

              2.2 Value chain analysis         

                             Exhibit 08:  Value chain analysis: Data processing and outsourced services

                             2.2.1 Inputs

                             2.2.2 Operations

                    Data sourcing and collection

                    Data quality and cleaning

                    Data enrichment

                    Data management

                             2.2.3 Data delivery and decision making

                             2.2.4 Marketing and sales

                             2.2.5 Support activities

                             2.2.6 Industry innovations:

3. Market Sizing                     

              3.1 Market definition

                             Exhibit 10:  Offerings of vendors included in the market definition

              3.2 Market segment analysis 

                             Exhibit 11:  Market segments

              3.3 Market size 2021 

              3.4 Market outlook: Forecast for 2021 - 2026 

                             Exhibit 12:  Global - Market size and forecast 2021 - 2026 ($ million)

                             Exhibit 13:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis                        

              4.1 Five Forces Summary       

                             Exhibit 14:  Five forces analysis 2021 & 2026

              4.2 Bargaining power of buyers          

                             Exhibit 15: Bargaining power of buyers

              4.3 Bargaining power of suppliers      

                             Exhibit 16: Bargaining power of suppliers

              4.4 Threat of new entrants    

                             Exhibit 17: Threat of new entrants

              4.5 Threat of substitutes        

                             Exhibit 18: Threat of substitutes

              4.6 Threat of rivalry  

                             Exhibit 19: Threat of rivalry

              4.7 Market condition

                             Exhibit 20:  Market condition - Five forces 2021

5 Market Segmentation by Service                

              5.1 Market segments

                             Exhibit 20:  Service - Market share 2021-2026 (%)

              5.2 Comparison by Service     

                             Exhibit 21:  Comparison by Service

              5.3 IT consulting and other services - Market size and forecast 2021-2026         

                             Exhibit 22:  IT consulting and other services - Market size and forecast 2021-2026 ($ Million)

                             Exhibit 23:  IT consulting and other services - Year-over-year growth 2021-2026 (%)

              5.4 Internet services and infrastructure - Market size and forecast 2021-2026        

                             Exhibit 24:  Internet services and infrastructure - Market size and forecast 2021-2026 ($ Million)

                             Exhibit 25:  Internet services and infrastructure - Year-over-year growth 2021-2026 (%)

              5.5 Data processing and outsources services - Market size and forecast 2021-2026        

                             Exhibit 26:  Data processing and outsources services - Market size and forecast 2021-2026 ($ Million)

                             Exhibit 27:  Data processing and outsources services - Year-over-year growth 2021-2026 (%)

              5.6 Market opportunity by Service     

                             Exhibit 28:  Market opportunity by Service

6. Geographic Landscape                   

              6.1 Geographic segmentation

                             Exhibit 29:  Market share by geography 2021-2026 (%)

              6.2 Geographic comparison  

                             Exhibit 30: Geographic comparison

              6.3 Sweden - Market size and forecast 2021-2026       

                             Exhibit 31:  Sweden - Market size and forecast 2021-2026 ($ Million)

                             Exhibit 32:  Sweden - Year-over-year growth 2021-2026 (%)

              6.4 Denmark - Market size and forecast 2021-2026     

                             Exhibit 33:  Denmark - Market size and forecast 2021-2026 ($ Million)

                             Exhibit 34:  Denmark - Year-over-year growth 2021-2026 (%)

              6.5 Norway - Market size and forecast 2021-2026       

                             Exhibit 35:  Norway - Market size and forecast 2021-2026 ($ Million)

                             Exhibit 36:  Norway - Year-over-year growth 2021-2026 (%)

              6.6 Rest of Nordic countries - Market size and forecast 2021-2026     

                             Exhibit 37:  Rest of Nordic countries - Market size and forecast 2021-2026 ($ Million)

                             Exhibit 38:  Rest of Nordic countries - Year-over-year growth 2021-2026 (%)

              6.7 Market opportunity by geography

                             Exhibit 39:  Market opportunity by geography ($ million)

7. Customer landscape                       

              7.1 Overview

                             Exhibit 40:  Customer landscape

8. Drivers, Challenges, and Trends                 

              8.1 Market drivers     

                             8.1.1 Growing adoption of edge computing

                             8.1.2 Gradual shift from on-premises to cloud-based IT services

                             8.1.3 Incorporation of predictive analytics in managed security services

              8.2 Market challenges             

                             8.2.1 Risks involved in outsourcing

                             8.2.2 Shortage of domain expertise

                             8.2.3 Lack of quality standards in SLAs

                             Exhibit 41:  Impact of drivers and challenges

              8.3 Market trends     

                             8.3.1 Emergence of AI in information management

                             8.3.2 Integration of big data in information provider offerings

                             8.3.3 Growing BFSI sector and go-green initiatives

9. Vendor Landscape                          

              9.1 Overview

                             Exhibit 42: Vendor landscape

                             The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

              9.2 Landscape disruption       

                             Exhibit 43: Landscape disruption

                             Exhibit 44: Industry risks

              9.3 Competitive Scenario       

10. Vendor Analysis              

              10.1 Vendors covered             

                             Exhibit 45: Vendors covered

              10.2 Market positioning of vendors   

                             Exhibit 46: Market positioning of vendors

              10.3 Accenture Plc     

                             Exhibit 47:  Accenture Plc - Overview

                             Exhibit 48:  Accenture Plc - Business segments

                             Exhibit 49:  Accenture Plc - Key offerings

                             Exhibit 50:  Accenture Plc – key news

                             Exhibit 51:  Accenture Plc - Segment focus

              10.4 Capgemini SE     

                             Exhibit 52:  Capgemini SE - Overview

                             Exhibit 53:  Capgemini SE - Business segments

                             Exhibit 54:  Capgemini SE - Key offerings

                             Exhibit 55:  Capgemini SE – key news

                             Exhibit 56:  Capgemini SE - Segment focus

              10.5 CGI Inc.

                             Exhibit 57:  CGI Inc. - Overview

                             Exhibit 58:  CGI Inc. - Business segments

                             Exhibit 59:  CGI Inc. - Key offerings

                             Exhibit 60:  CGI Inc. – Key news

                             Exhibit 61:  CGI Inc. - Segment focus

              10.6 Dell Technologies Inc.    

                             Exhibit 62:  Dell Technologies Inc. - Overview

                             Exhibit 63:  Dell Technologies Inc. - Business segments

                             Exhibit 64:  Dell Technologies Inc. - Key offerings

                             Exhibit 65:  Dell Technologies Inc. - Segment focus

              10.7 DXC Technology Co.       

                             Exhibit 66:  DXC Technology Co. - Overview

                             Exhibit 67:  DXC Technology Co. - Business segments

                             Exhibit 68:  DXC Technology Co. - Key offerings

                             Exhibit 69:  DXC Technology Co. - Key news

                             Exhibit 70:  DXC Technology Co. - Segment focus

              10.8 Hewlett Packard Enterprise Co.  

                             Exhibit 71:  Hewlett Packard Enterprise Co. - Overview

                             Exhibit 72:  Hewlett Packard Enterprise Co. - Business segments

                             Exhibit 73:  Hewlett Packard Enterprise Co. - Key offerings

                             Exhibit 74:  Hewlett Packard Enterprise Co. - Segment focus

              10.9 Hitachi Ltd.         

                             Exhibit 75:  Hitachi Ltd. - Overview

                             Exhibit 76:  Hitachi Ltd. - Business segments

                             Exhibit 77:  Hitachi Ltd. - Key offerings

                             Exhibit 78:  Hitachi Ltd. - Segment focus

              10.10 Infosys Ltd.      

                             Exhibit 79:  Infosys Ltd. - Overview

                             Exhibit 80:  Infosys Ltd. - Business segments

                             Exhibit 81:  Infosys Ltd. - Key offerings

                             Exhibit 82:  Infosys Ltd. - Segment focus

              10.11 International Business Machines Corp. 

                             Exhibit 83:  International Business Machines Corp. - Overview

                             Exhibit 84:  International Business Machines Corp. - Business segments

                             Exhibit 85:  International Business Machines Corp. - Key offerings

                             Exhibit 86:  International Business Machines Corp. – key news

                             Exhibit 87:  International Business Machines Corp. - Segment focus

              10.12 Tata Consultancy Services Ltd.  

                             Exhibit 88:  Tata Consultancy Services Ltd. - Overview

                             Exhibit 89:  Tata Consultancy Services Ltd. - Business segments

                             Exhibit 90:  Tata Consultancy Services Ltd. - Key offerings

                             Exhibit 91:  Tata Consultancy Services Ltd. - Segment focus

11. Appendix                          

              11.1 Scope of the report        

                             11.1.1 Market definition

                             11.1.2 Objectives

                             Notes and caveats

              11.2 Currency conversion rates for US$           

                             Exhibit 92: Currency conversion rates for US$

              11.3 Research Methodology  

                             Exhibit 93: Research Methodology

                             Exhibit 94: Validation techniques employed for market sizing

                             Exhibit 95: Information sources

              11.4 List of abbreviations       

                             Exhibit 96: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

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