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Market

Vincit operates in the Nordic IT services market – a market that is large and growing but with a demand that fluctuates with macroeconomic cycles. The operating environment is in constant change due to rapid advances in technology, creating both business opportunities but also a requirement for players in the field to adapt their offerings to stay competitive.

According to Radar (Radar Nordic Outlook 9/2024), the size of the Nordic (Sweden, Norway, Finland, Denmark) IT services market was just under 28 billion euros in 2024. Radar has estimated the entire Finnish IT market to be just over 7 billion. The IT services market accounts for almost three quarters (EUR 4.8 billion) of this, divided into consulting (EUR 2.5bn), management consulting (EUR 0.3 bn), management consulting, cloud solutions (EUR 0.6 bn), and outsourcing (EUR 1.2bn). By customer base, approximately 75% are private sector customers and 25% public sector customers.

Strategic, business critical role of IT

Technology investments are no longer confined to the IT department; they are increasingly strategic decisions made by the entire company, including the CEO and its top business leadership. In the Nordics, customers are highly experienced technology adopters and buyers, with increasing demands. Therefore, pure technology expertise is not enough anymore. A deep understanding of customers' businesses is critical, and IT service providers need to deeply understand clients' strategic goals.

Successful IT service providers become strategic partners for clients’ business-critical processes, enabling them to increase the average size and duration of client engagements.

The rise of AI and value creation

The AI market is growing at a rapid pace, and generative AI is constantly shaping the playing field of the industry. However, experimenting with technology alone is no longer enough to create a sustainable competitive advantage. The real value comes from the deep integration of artificial intelligence into business-critical core processes.

Vincit stands out in the market by helping its customers build truly AI-native businesses. We bring autonomous AI agents directly to customers' ERP systems to handle routines, digital commerce to automate sales operations, and the entire software development lifecycle. This unique ability to combine cutting-edge AI expertise with modular technology platforms scales customer value and productivity to a whole new level

Importance of Data and analytics

Good quality data has become a strategic competitive factor and a prerequisite for artificial intelligence solutions in more and more industries. The challenge for customers is to connect data from siloed information management to the functions of the entire organization. The winners are IT companies that are able to combine data platform expertise, analytics, artificial intelligence, and business understanding.

Growing concerns over information security

The rise of AI as well as geopolitical tensions have made information security a topic of concern for many companies. With customers increasingly focusing on information security, having the necessary certifications and the ability to offer this expertise is a business opportunity and competitive advantage for an IT services provider.