IT Services Market in Nordic Countries by Service and Geography - Forecast and Analysis 2022-2026
- Published: Mar 2022
- Pages: 120
- SKU: IRTNTR71009
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The IT services market share in Nordic Countries is expected to increase by USD 6.36 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.04%.
This IT services market in Nordic Countries research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers IT services market segmentation in Nordic Countries by service (IT consulting and other services, Internet services and infrastructure, and data processing and outsourced services) and geography (Sweden, Denmark, Norway, and Rest of Europe). The IT services market in Nordic Countries report also offers information on several market vendors, including 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. among others.
What will the IT Services Market Size in Nordic Countries be During the Forecast Period?
Download the Free Report Sample to Unlock the IT Services Market Size in Nordic Countries for the Forecast Period and Other Important Statistics
IT Services Market in Nordic Countries: Key Drivers, Trends, and Challenges
The growing adoption of edge computing is notably driving the IT services market growth in Nordic Countries, although factors such as risks involved in outsourcing may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the IT services industry in Nordic Countries. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key IT Services Market Driver in Nordic Countries
One of the key factors driving growth in the IT services market in Nordic countries is the growing adoption of edge computing. The demand for edge computing is significantly rising in the Nordic region, owing to the rollout of 5G telecommunication networks. The emergence of advanced, high-capacity edge computing has further driven the growth of the IT services market in the region. In addition, according to IBM Corp, in Nordics, 5G network will be available in all major cities by 2021-2022, and by 2023, all countries across the region are expected to have almost 100% nationwide 5G coverage. Such factors will enhance the adoption of edge computing, as 5G, along with edge computing, will create opportunities to enhance digital experiences, improve performance and data security services, and enable continuous operations in every industry. The growing need to improve performance, control operating costs, and enhance the reliability of applications and IT services has led to the increasing adoption of edge computing. This development will also drive the demand for IT services in the region.
Key IT Services Market Trend in Nordic Countries
The emergence of AI in information management is IT services market trend in Nordic countries that is expected to have a positive impact in the coming years. Several enterprises across the world are integrating AI to develop and exploit data from IT services. Integrating AI in information services helps automate several processes and enhances process efficiency. Besides, in enterprises, half the employees spend time doing paperwork. This reduces the overall return on investment (ROI) of enterprises and increases their costs. Thus, enterprises are opting for IT services integrated with advanced technologies such as AI. There are several other advantages of AI in information services, such as applying structure to unstructured data, streamlining information, enhancing information security, and improving data quality. Such advantages of AI in information services are anticipated to increase the efficiency of vendors operating in the IT services market in Nordic countries.
Key IT Services Market Challenge in Nordic Countries
The risks involved in outsourcing will be a major challenge for the IT services market in Nordic countries during the forecast period. If an organization outsources its front, middle, or back-office activities, it might be at risk of being too dependent on the outsourced agency. Outsourcing could result in a loss of control as the outsourced agency may make excessive demands and change business rules. Outsourcing service providers need to communicate effectively with their clients to deliver the service required in a timely manner. Communication during the procurement contract tenure is required between the clients and vendors to reduce outsourcing risks and build trust. The lack of communication and the large number of risks associated with engaging with outsourcing services can hamper the growth of the IT services market in Nordic countries.
This IT services market in Nordic Countries analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the IT services market in Nordic Countries as a part of the global data processing and outsourced services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the IT services market in Nordic Countries during the forecast period.
Who are the Major IT Services Market Vendors in Nordic Countries?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- 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.
- TIETOEVRY CORP.
This statistical study of the IT services market in Nordic Countries encompasses successful business strategies deployed by the key vendors. The IT services market in Nordic Countries is fragmented and the 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.
Product Insights and News
Dell Technologies Inc. - The company offers IT services that offer expert consulting assistance to help plan and implement the end-user tools that are vital to remote working, including secure file access, conferencing and collaboration.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The IT services market in Nordic Countries forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
IT Services Market in Nordic Countries Value Chain Analysis
Our report provides extensive information on the value chain analysis for the IT services market in Nordic Countries, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the data processing and outsourced services market includes the following core components:
- Marketing and sales
- Support activities
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for IT Services Market in Nordic Countries?
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36% of the market's growth will originate from Sweden during the forecast period. Market growth in this region will be faster than the growth of the market in other regions.
The strong presence and penetration of top vendors such as Accenture Plc, Microsoft Corp., and International Business Machines (IBM) Corp. will facilitate the IT services market growth in Sweden over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID pandemic had an adverse impact on Sweden. The country had imposed lockdowns to contain the spread of the disease in 2020. This outbreak of COVID-19 in 2020 had enhanced the need for software development and outsourcing services in Sweden. The pandemic enhanced the demand for digitalization of processes and created new opportunities for cloud services. IT also improved the remote workflow processes across the country. In 2021 the country had increased its vaccination drives which aided the resumption of data center construction, thereby enhancing the need for Internet services and infrastructure in the country. Such factors will fuel the growth of the IT services market in the country during the forecast period.
What are the Revenue-generating Service Segments in the IT Services Market in Nordic Countries?
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The IT services market share growth in Nordic Countries by the IT consulting and other services segment will be significant during the forecast period. The adoption of advanced technologies such as big data analytics, AI, and cloud-based computing to reduce costs and increase operational efficiencies is enhancing the need for other services. Several companies, including small and medium-sized enterprises (SMEs), lack the in-house technical expertise required for the planning, design, and implementation of these advanced technologies, which leads them to engage the services of IT consulting firms, which possess experience in the field. Such factors will drive the growth of the IT services market in Nordic countries during the forecast period.
provides an accurate prediction of the contribution of all the segments to the growth of the IT services market size in Nordic Countries and actionable market insights on post COVID-19 impact on each segment.
IT Services Market Scope in Nordic Countries
Growth momentum & CAGR
Accelerate at a CAGR of 4.04%
Market growth 2022-2026
$ 6.36 billion
YoY growth (%)
Performing market contribution
Sweden at 36%
Key consumer countries
|Sweden, Denmark, Norway, and Rest of Europe|
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.
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this IT Services Market in Nordic Countries Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive IT services market growth in Nordic Countries during the next five years
- Precise estimation of the IT services market size in Nordic Countries and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the IT services industry in Nordic Countries across Sweden, Denmark, Norway, and Rest of Europe
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of IT services market vendors in Nordic Countries
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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
126.96.36.199 Data sourcing and collection
188.8.131.52 Data quality and cleaning
184.108.40.206 Data enrichment
220.127.116.11 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
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
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
11.1 Scope of the report
11.1.1 ????Market definition
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
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Russian Federation
- growing adoption of edge computing
- Emergence of AI in information management
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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