Boston, MA -- (ReleaseWire) -- 07/23/2014 -- Sweden's IT market growth will underperform emerging markets in the region over the medium term, but in the context of market maturity IT spending growth is forecast to remain robust. We base our outlook on a supportive economic environment, a strong local system of software firms and the strength of supporting data network infrastructure. We identify d ata centres, cloud computing, and real-time business software and services as medium-term growth trends in Sweden. There is also upside potential due to a boom in Nordic data centre development - a result of cost and legal advantages - which could be given additional momentum by the ongoing process of harmonising EU regulations on data security and privacy.
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Headline Expenditure Projections
Computer hardware sales are forecast to increase from SEK26.3bn in 2014 to SEK30.4bn in 2018, equating to a compound annual growth rate (CAGR) of 3.7% in local currency terms. Due to income growth trends in Sweden we expect the strongest area of the retail market will continue to be premium devices.
Software sales are forecast to increase from SEK39.1bn in 2014 to SEK45.1bn in 2018, equating to a CAGR of 3.8% in local currency terms. Expenditure on enterprise resource planning is expected to pick up over 2014 as deferred investments boost spending.
IT services sales are forecast to increase from SEK59.7bn in 2014 to SEK73.7bn in 2018, equating to a CAGR of 5.3% in local currency terms. A boom in cloud service adoption is driving IT service spending higher, while emerging technologies such as machine-to-machine communications and big data analysis offer scope for growth.
Key Trends & Developments
The Swedish capital Stockholm is a well established centre for start-ups, with the success of firms such as Spotify and games developer Toca Boca boosting its profile. The success of local firms, the high quality of local talent from the Swedish education system and the strength of local networking...
The Sweden Information Technology Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering personal computers and software; semi-conductors, memory chips, integrated circuits and general components; the internet and IT solutions. It analyses analyses regulatory changes (licensing, customs and intellectual property protection) and competitive landscapes comparing IT companies by products, sales, market share, investments, projects and expansion strategies.
BMI's Sweden Information Technology Report provides industry professionals and strategists, corporate analysts, IT associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the IT industry in Sweden.
- Benchmark BMI's independent IT Industry forecasts for Sweden to test other views - a key input for successful budgetary and strategic business planning in the Swedish IT market.
- Target business opportunities and risks in Sweden's IT sector through our reviews of latest industry trends, regulatory changes, and major deals, projects and investments in Sweden.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering IT, regulatory changes, major investments and projects and significant national and multinational company developments.
Cross-border analysis of regional markets, commenting on IT penetration (PC and internet) and market growth drivers (IT market size and IT market compound growth).
Country Market Overview
Structure, size and value of the industry sectors including hardware, software and services; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments and government authority.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
IT Sector: IT industry value (US$bn); IT sector contribution to GDP (%); value of hardware, software and services industry (US$mn); PC, peripherals and software imports and exports (US$mn); PC, peripherals and software sales (US$mn); number of PCs (`000); PCs/100 inhabitants; internet users (`000); internet users per 100 inhabitants; broadband subscribers (`000); broadband subscribers per 100 inhabitants.
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