IT Services Market Size in Nordic Countries to Grow by USD 6.36 Bn| Growing Adoption of Edge Computing to boost market growth| Technavio
Friday, April 8, 2022
NEW YORK, April 8, 2022 /PRNewswire/ -- According to the research report, the IT Services Market in Nordic Countries will witness a YOY growth of 3.85% in 2022 at a CAGR of 4.04% during the forecast period. The report is segmented by service (IT consulting and other services, Internet services and infrastructure, and data processing and outsourced services) and geography (Sweden, Denmark, Norway, and the Rest of Europe).
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Vendor Insights
The global IT Services Market in Nordic Countries is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
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.
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Geographical Market Analysis
Sweden will provide maximum growth opportunities in IT Services Market in Nordic Countries during the forecast period. According to our research report, the region will contribute to 36% of the global market growth. Top vendors such as Accenture Plc, Microsoft Corp., and International Business Machines (IBM) Corp. will have a significant presence and penetration in the IT services market in Sweden over the projection period.
Furthermore, countries such as Sweden, Denmark, Norway, and the Rest of Europe are expected to emerge as prominent markets for IT Services Market in Nordic Countries during the forecast period.
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Key Segment Analysis
The IT consulting and other services segment will gain considerable market share in the Nordic countries. The use of new technologies like big data analytics, artificial intelligence, and cloud-based computing to cut costs and improve operational efficiencies is increasing the demand for other services. During the forecast period, such factors will fuel the expansion of the Nordic IT services market.
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Key Market Drivers & Challenges:
The increased adoption of edge computing is one of the primary drivers driving growth in the Nordic IT services market. However, during the projected period, the risks associated with outsourcing will be a major problem for the Nordic IT services market.
Download a free sample for highlights on market Drivers & Challenges affecting the IT Services Market in Nordic Countries.
Parent Market Analysis
Technavio categorizes the IT services market in Nordic Countries as a part of the global data processing and outsourced services market within the global information technology (IT) market.
IT Services Market in Nordic Countries Value Chain Analysis
In order to optimize profit margins and evaluate company plans, an end-to-end understanding of the value chain is required. During the projected period, the data in our value chain analysis segment can assist vendors reduce costs and improve customer service.
The value chain of the data processing and outsourced services market includes the following core components:
-- Inputs
-- Operations
-- Marketing and sales
-- Support activities
-- Innovation
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IT Services Market Scope in Nordic Countries
Report Coverage
Details
Page number 120
Base year 2021
Forecast period
2022-2026
Growth momentum & CAGR Accelerate at a CAGR of 4.04%
Market growth 2022-2026
$ 6.36 billion
Market structure
Fragmented
YoY growth (%) 3.85
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
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.
Table of Contents
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
2.2.2.1 Data sourcing and collection
2.2.2.2 Data quality and cleaning
2.2.2.3 Data enrichment
2.2.2.4 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 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.
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Technavio Research
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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