The IT market in the Nordic region is to grow at a CAGR of 2.21 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing government support. The IT market in the Nordic region has also been witnessing the increasing adoption of cloud services. However, the difficult financial environment and the decrease in consumer spending could pose a challenge to the growth of this market.
In a market of intense competition, the IT firms are constantly accessing the market situation and accordingly redirecting their strategies to sustain their position in the market. Organizations are progressively looking to leverage analytics to mine data for various reasons, from improving operations to recognizing new markets and prospects. Many firms in the Nordic region are looking to improve their efficiency by utilizing analytics and predictive technologies. The continuously increasing volumes of data and information, which they can use for analysis to obtain better insight about their customers and competitors, are at a close access for the organizations. Such data can help them improve their sales and better market their products. Hence, the IT market in the Nordic region has been witnessing a rise in business analytics as an IT solution for investment areas.
The IT market in the Nordic region is offering huge potential to the IT vendors to tap into the imminent growth opportunities. One of the main factors for this growth is the increasing government support of various countries to improve the IT infrastructure in the region. Various initiatives taken by the government include providing policy incentives, establishing high-tech zones, and providing development funding.
The key vendors dominating this market space are Accenture plc, Capgemini S.A., HP Co., and IBM Corp. The other vendors mentioned in the report are CGI Group Inc., Microsoft Corp., SAP AG, Computer Sciences Corp., Evry ASA, TCS Ltd., Tieto Oyj, KMD A/S, NNIT A/S, Digia Oyj, Logica plc, and Connecta AB.
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