Norway IT Services 2009 Vendor Shares and 2010-2014 Forecast

Norway withstood the financial crisis as well as any country in Western Europe in 2009, with its GDP falling by just 1.9%. The IT services market, however, still declined 3.1%.

Nils Molin, managing director, IDC Sweden, said, "Despite being labeled the 'financial crisis,' the hardest hit areas were in other sectors in Norway, such as manufacturing. Other sectors, such as the public sector, fared quite well in 2009, and offshoring continued to make inroads into the Norwegian IT industry in 2009."

For 2010 we expect the market to stabilize and to see growth in the second half of the year. The Norwegian IT market was worth NOK 27,465 million in 2009 and is expected to grow to NOK 31,538 million in 2014, with a CAGR of 2.8%.