Market Trends of Sweden ICT Industry
This section covers the major market trends shaping the Sweden ICT Market according to our research experts:
Cloud Segment is one of the factors driving the market
- The market for cloud computing in Sweden is expected to expand, and consumers and enterprises are adopting the technology more frequently. Future-oriented technologies that support the ecosystem's smooth adoption of SaaS, IaaS, and PaaS products include AI, ML, advanced analytics, and immersive media. Moreover, cloud computing has enabled an entirely new delivery model for software.
- Further, in the past, businesses had to spend millions on implementation costs, software licenses, and physical infrastructure. This made it impossible for small and medium-sized companies to use IT successfully. Due to the cost of IT, large corporations continued to employ outdated, ineffective technologies and physical infrastructure. This made it impossible for small and medium-sized companies to use IT successfully. Due to the cost of IT, large corporations continued to employ outdated, ineffective technology. All of this has changed as a result of cloud computing.
- In October last year, Google Cloud announced the launch of its first cloud region in Sweden to support the country's digital transformation and to fulfill the growing demand for cloud services locally and globally. The new cloud region will help bring Google innovations closer to our local customers and give them a platform that allows enterprises to function more efficiently.
- Similarly, Microsoft Corporation announced the opening of its newest sustainable data center region in Sweden, with locations in Gävle, Sandviken, and Staffanstorp. Microsoft's new world-class data centers in Sweden are now up and running. Microsoft Azure and Microsoft 365 services are available right away, and customers can store their data in the country.
- According to MIT Technology, the index ranking of cloud infrastructure consists of various data points that indicate how well each country is served by telecommunications networks and computing resources that enable cloud-centric production models. Also, the cloud infrastructure ecosystem index for Sweden is 8.43, which is higher than that of Germany, France, and many other countries.
Understand The Key Trends Shaping This Market
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The Telecommunication Sector is expected to drive the market
- Due to security concerns, the Swedish government has prohibited Chinese vendors Huawei and ZTE from taking part in the rollout of 5G networks. The Swedish Post and Telecom Authority also said that products from Chinese companies Huawei and ZTE can't be used for new installations or to set up central functions for radio use in the frequency bands. These products will be phased out by January 1, 2025.
- Sweden's Post and Telecom Agency launched a consultation on revisions to the minimum coverage specifications for licenses in the 900 MHz, 2100 MHz, and 2.6 GHz bands (Post & Telestyrelsen, PTS). The regulator wants to change the terms of the 2100 MHz and 2.6 GHz concessions so that major railroad lines are included in operator rollouts.
- Further, for its last year's broadband support program, the Swedish Post and Telecom Agency (Post & Telestyrelsen, PTS) is already accepting applications. The regulatory body has cash available to disburse to operators wishing to build broadband infrastructure in rural areas-roughly SEK 1.3 billion (USD 130 million). Networks must offer connectivity with a minimum 1 Gbps download speed.
- In March last year, the Swedish Post and Telecom Agency (Post & Telestyrelsen, PTS) proposed a slew of new laws that, according to PTS, will be incorporated into a revision of the nation's electronic communications law that is set to take effect on August 1. Among the new rules are changes to the requirements for subscriber information, network security, number portability, switching service providers, and emergency communications.
- The growing number of internet users in the country, combined with the increasing adoption of broadband services, is driving up demand for the telecom industry. According to the Ookla Speedtest Global Index, Sweden ranked 26th with a median fixed broadband download speed of 107.42 Mbps in December last year. The number of people who have fixed broadband service is growing by a lot, which is making more people want to use telecom services.
