Finnish Software & IT business grew 11.4% last year. The growth was lead by game companies and small software companies. As a comparison, globally software & IT business grows an average 5% per year. The Finnish software and information technology industry last year grew by 11.4 per cent in comparison to the previous year, driven especially by game studios and small software developers, finds a software industry survey published on Thursday. The global software market, in contrast, is expanding at an annual rate of five per cent.
Finnish companies have found success especially in cloud computing, and messaging and content applications. Cloud computing refers to the use and development of information technology in a distributed online environment. Messaging and content applications, in turn, include video and mobile games. However, the net sales of larger companies in the sector contracted last year.
“Small and eager-to-grow software companies swim against the current in these difficult times, creating growth for the entire sector. The establishment of new innovative companies is vital for the national economy, and it must be promoted with all means possible,” Rasmus Roiha, the managing director at the Finnish Software Entrepreneurs’ Association, states.
Jukka Viitasaari, a director at the Federation of Finnish Technology Industries, points out that it is important that small and medium companies acquire direct customers from abroad to ensure they are not entirely reliant on large companies for growth.
“Investments in software expertise are one of the most profitable investments in the future for Finland,” Viitasaari views. Altogether, representatives of 293 software companies responded to the survey conducted by research teams at the University of Jyväskylä and Aalto University in co-operation with the Federation of Finnish Technology Industries, Finnish Software Entrepreneurs’ Association and the Finnish Information Processing Association.