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





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

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, Denmark, Norway, and Rest of Europe). 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.

  • TIETOEVRY CORP.

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

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IT Services Market Scope

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

USD 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

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

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

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