A brief 2021 market outlook

Another year with a pandemic hit the world. Industries around the globe have been severely affected and have survived due to substantial financial support packages. Yet, as a paradox, the IT sector, in general, is growing!

• Our home turf, the Enterprise Application Integration market, including integration platforms such as Azure, Mulesoft, Boomi, BizTalk, continues to grow at a rapid pace. According to a recent report from Mordor Intelligence, the market size is increasing from 9,65 BUSD in 2020 to an estimated 22,35 BUSD by YE 2026.
• Digitalization is a reality everywhere. The digital workplace with distance working has become the new normal for Nodinite and most of our fellows in the IT space. A meeting now is not about time and place, only about time. We are more efficient with less time spent on travelling, moving around in the office or lunch with colleagues in the short term. The long term effects of distance working remain to be seen.
• The demand for IT competence has reached new record levels. Already 7% of the total Swedish workforce is IT-staff, i.e. 350,000 out of 5 million workers*). Despite this, the gap between demand and supply is vast and increasing. A Swedish employer organization claims there will be a lack of 70,000 IT staff by 2024.
• A growing consolidation trend in the market for Systems Integration consultancy, e.g. in Sweden, Orango becomes part of the European Fellowmind group, Visolit becomes part of the Nordic group Advania. In 2019, Finnish Solita acquired Ferro Logic creating a Northen European player.
• The demand for managed applications and systems integration services is increasing due to digitalization and lack of competence.

*) according to an estimate by Eurostat 2019. Sweden is the European country with the highest proportion of IT staff, followed by Finland.