IT Consulting & Implementation - Northern Europe

Northern Europe

Revenue in the IT Consulting & Implementation market is projected to reach US$2.43bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.81%, resulting in a market volume of US$2.93bn by 2029.
The average Spend per Employee in the IT Consulting & Implementation market is projected to reach US$131.50 in 2024.
In global comparison, most revenue will be generated in the United States (US$27,220.00m in 2024).

Key regions: Brazil, Netherlands, Spain, Italy, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The IT Consulting & Implementation market in Northern Europe has been experiencing steady growth in recent years.

Customer preferences: Businesses in Northern Europe are increasingly turning to IT consulting and implementation services to optimize their operations, improve efficiency, and stay competitive in the digital age. Many companies are seeking out specialized services such as cybersecurity and cloud computing to meet their specific needs.

Trends in the market: Denmark and Sweden are two of the fastest-growing markets for IT consulting and implementation services in Northern Europe. In Denmark, the rise of digitalization has led to increased demand for consulting services related to cybersecurity and data analytics. Meanwhile, in Sweden, companies are seeking out consulting services that can help them adopt new technologies and improve their digital capabilities.

Local special circumstances: One of the unique aspects of the IT Consulting & Implementation market in Northern Europe is the emphasis on sustainability and social responsibility. Many companies in the region prioritize environmentally-friendly practices and ethical business conduct, and they expect their consulting partners to share these values. This has led to the development of specialized consulting services focused on sustainability and corporate social responsibility.

Underlying macroeconomic factors: The IT Consulting & Implementation market in Northern Europe is being driven by several macroeconomic factors, including the region's strong economy, high level of technological innovation, and skilled workforce. Additionally, the COVID-19 pandemic has accelerated the adoption of digital technologies across industries, creating new opportunities for IT consulting and implementation firms. As a result, the market is expected to continue growing in the coming years.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.