Sweden Project Services 2009 Vendor Shares and 2010-2014 Forecast

2009 was one of the worst years ever for the Swedish project services industry. The drop in demand for project services was a direct response to the financial crisis that struck the entire western world during 2008 and 2009. Due to the nature of the business, the effects on the market were not visible until the beginning of 2009 for most vendors.

"Even if the crisis was labeled 'the financial crisis,' the worst effects were witnessed in sectors other than finance, like manufacturing. The vertical that held up demand the best in 2009 was no doubt the public sector. The market for project services was hit the hardest as customers cut down on discretionary spend with short notice. For 2010, IDC expects that the market will stabilize and show growth during the second half of the year. The Swedish project services market was worth SEK 18.984 million in 2009 and is expected to grow to SEK 22.688 million in 2014, with a CAGR of 3.6%," said Nils Molin, managing director, IDC Sweden.