Market review

Market review

In its size class Vincit is a unique combination of design thinking, modern agile development, tailored app development and Enterprise-level system expertise especially in SAP ecosystem technologies.
Most of our net sales come from the Finnish IT services market, which is estimated by analyst firm Inderes to be split between a private sector of around EUR 3.5 billion and a public sector of around EUR 1.1 billion (IDC, In Finland, the combined net sales of the software sector in 2020 was EUR 10.8 billion and it employed 59,747 people in a total of 7,557 companies (Statistics Finland). The sector grew by an average of 7% in Finland in 2020, with almost 1 500 new companies entering the sector every year. (EK 2020).
Vincit has traditionally been active mainly in the IT services market of Finland and the US. However, the company also serves Central European customers from Finland. In 2021 and 2022, Vincit USA was recognized as one of the fastest growing companies in the United States and joined the prestigious Inc. 5000 list. After merging with Bilot Corporation in 2022, we will also serve customers in Sweden and Poland.
Vincit's growth has been strong throughout the 2010s, outpacing the Finnish IT market. Our growth has been accelerated by our strong positioning in growth areas of the IT market and our success in the increasingly competitive IT talent pool.

Growth drivers for the market

  • IT will become more of a key area of companies’ business and strategy

  • Accelerating digitalization boosts market growth

  • The definition of the IT service market becomes broader

Executive team

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Board of Directors

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