IT-Radar Norway 2021

The report that describes how IT investments have developed in 2020 and will develop in 2021.

Enormous efforts were made in 2020 both to save lives and to limit negative GDP effects and job losses. Governments and central banks launched relief packages worth nearly USD 21 trillion equivalent to 24 per cent of global GDP in 2019. The global challenges with Covid-19 still remains in 2021.

It is Radars view that the latest COVID-19 wave will lead to a new recession this winter but due to the strength of manufacturing, the downturn will be far milder than last spring. Crisis relief measures and a new EU recovery package will provide support and limit damage to the economy.

In Norway the mainland economy has shown resilience. The slowdown in growth near-term will be mild, while prospects for a solid recovery in 2021 have strengthened. Household demand will lead the upturn, supported by fiscal policy and lower-trending unemployment

The theme 2021 will be uncertainty. Global and local uncertainty is on an unprecedented high level. Political instability, cold war between the largest economic powers and a global economy that is prepped by all nations creates a unique uncertainty today.

For most organizations uncertainty means to keep focus on profitability which means keeping the eye on both costs as well as revenue. This will impact the prioritizations for IT in Norway during 2021.

TABLE OF CONTENTS

  • THE MACRO PERSPECTIVE NORWAY
  • TRENDS IN THE NEW NORMAL
  • EFFECT ON IT-BUDGETS AND IT-SPEND
  • IT PRIORITIES
  • EFFECT ON THE IT-MARKET