Boston, MA -- (ReleaseWire) -- 01/08/2014 -- The IT market in Sweden is relatively strong regionally owing to the supportive economic environment, a strong local system of software firms and the strength of supporting data network infrastructure. We expect the strongest growth to come from demand for tablets and hybrids/convertibles, data centres, cloud computing and real-time business software and services. In the enterprise market, a boom in Nordic data centre development - a result of cost and legal advantages, as well as the ongoing process of harmonising EU regulations on data security and privacy - could see higher spending by strengthening Sweden's position as a regional cloud computing hub. There is, however, downside risk from a worsening of conditions in the eurozone, which would hit consumer and business confidence, though this is not our core scenario.
Headline Expenditure Projections
Computer hardware sales are forecast to increase from SEK25.6bn in 2013 to SEK30.5bn in 2017, equating to a compound annual growth rate (CAGR) of 4.3% in local currency terms. Sweden is a highly developed market with high penetration of PCs and tablets, limiting growth rates, but replacement and upgrade demand will keep the market in positive growth territory.
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Software sales are forecast to increase from SEK37.3bn in 2013 to SEK42.0bn in 2017, equating to a CAGR of 3.2% in local currency terms. Expenditure on enterprise resource planning is expected to pick up into 2014 as deferred investments boost spending.
IT services sales are forecast to increase from SEK57.0bn in 2013 to SEK69.2bn in 2017, equating to a CAGR of 5.0% in local currency terms. IT services will be the outperformer of the IT market, with cloud services and real-time data analytic smart services boosting spending over our forecast period.
Key Trends & Developments
The IT hardware market in Sweden is undergoing a transition as spending switches from desktops and notebooks to tablets. The trend is most pronounced in the consumer market, where Apple's iPad has proven extremely popular in the high-income Swedish market. While tablet penetration is already high, and we expect growth to slow, the short replacement cycle for devices will ensure it remains in positive territory, at least in the short-to-medium term. Meanwhile, BMI identifies server spending and demand for hybrids/ convertibles as additional opportunities in the Swedish hardware market.
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