Sweden Information Technology Report Q1 2016
BMI View: The Swedish IT market has a bright outlook for a developed market due to a supportiveeconomic environment and advanced composition of the enterprise segment. We believe this will drivegrowth in spending on new technologies such as advanced cloud computing services, and software andservices required for the Internet of Things. We also highlight the potential for Sweden to be a leadingadopter of labour saving smart automation and assistant technologies as a result of high labour costs andits status as a leading innovator, but this trend would be concentrated in the latter years of ourforecast. Meanwhile, despite maturity, we consider there to be opportunities in the retail market wherestrong private consumption growth has the potential to trigger premium device upgrades over the mediumterm. BMI forecasts a CAGR of 4.3% over 2015-2019 for the IT market as a whole.
Latest Updates & Industry Developments
Computer Hardware Sales: Forecast to increase from SEK22.8bn in 2016 to SEK24.9bn in 2019. Thematurity of the market with high penetration even for tablets means the boom has passed, but incomegrowth trends and a preference for premium products will support growth.
Software Sales: Forecast to increase from SEK38.7bn in 2016 to SEK42.6bn in 2019. Software spendingoutlook is bright across several verticals in Sweden, with advanced real-time enterprise applicationsexpected to exhibit the strongest growth.
IT Services Sales: Forecast to increase from SEK70.3bn in 2016 to SEK82.2bn in 2019. Sweden is aleading European market for cloud service adoption and further growth will drive IT service spendinghigher over the medium term, while the Internet of Things adds to the growth outlook.
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