TECHNOLOGY SECTOR IN SWEDEN
Trends, predictions and recommendations for approaching the Swedish market
ABOUT THE REPORT
This study comes at a critical time when the world is re-setting itself to the new normal. Undisputedly, technology has played a mission critical role during the pandemic for countries, companies, and communities. Coming to business contributions, even today US & UK continue to contribute about 80% to Indian IT industry’s export revenue. Altering geo-political situations, business un-certainties, and the need to diversify is compelling businesses to explore newer markets that are relatively under penetrated but have high potential. The Nordics is clearly one of them.
The region enjoys a higher GDP growth compared to the EU average, is consistently ranked as one of the easiest places to do business, is an early adopter of technology and home to some of the most innovative brands and large-scale corporations. As per estimates, there are more than 50 companies having revenues greater than USD 10 Bn and about 250 companies with revenues more than USD 1 Bn, with headquarters in the Nordic region. The economy of the region is worth USD 1.53 Trillion and is rated high on transparency and social equality index.
With an external IT spend of USD 18.9 billion, Sweden accounts for about 40 percent of the total IT spend in the Nordics. India – Sweden tech partnership dates back many years. Companies like Atlas Capco, Ericsson, IKEA, Volvo, SKF and ABB have established capability centers in India focusing both on serving the Indian market and leveraging the capabilities of Indian talent for driving digital and enterprise innovation. India is the 3rd largest trading partner for Sweden in Asia. Today there are over 200 registered Swedish companies in India that indirectly employ over 1.2 million people.
The report prepared after the onset of the pandemic covers Nordic IT landscape including Denmark, Finland, Iceland, and Norway. It provides an in-depth understanding about the key drivers and enablers for the Swedish IT market. It covers spending trends, growth as driven by cloud, automation, big-data, infrastructure services, digital workplaces and the need for increased AI based solutions. The report also captures insights on how the pandemic has altered client expectations, buying behavior, and changing priority for SME’s. It provides an outlook for some of the largest sectors in Sweden including Manufacturing, Automotive, Retails and Telecom.
- Overview of the Nordic Economy
- The Nordic Context
- Overview of the Nordic IT market
- The Danish IT Market
- The Finnish IT Market
- The Icelandic IT Market
- The Norwegian IT Market
- The Swedish IT Market
- Swedish IT Market in Depth
- Consulting Services
- Importance of Local Presence
- Competencies in Demand
- Infrastructure Services
- End-user Services
- A Transforming Sweden
- Trends in the New Normal
- Accelerators and new market possibilites
- Priorities for small, medium and large organizations
- Key drivers and enablers for industries
- Approaching the Swedish market