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The uncertainty regarding the geopolitical situation, interest rate trends and restraint on the export markets characterizes the IT industry’s turnover, which does not reach the same speed as seen previously. This shows completely new industry figures.
Revenue continues to rise in the IT industry, albeit at somewhat lower growth rates than has been seen in recent years.
With a total turnover of DKK 157.9 billion. DKK in the first half of 2024, the IT industry experienced, which corresponds to a revenue increase of 1.2% compared to the first half of 2023. A smaller increase compared to previous years, but at the same time significantly better than the business world in general, as in the same period experienced a turnover decrease of 1.5%.
“There is still a great appetite for digital solutions in both the private and public sectors, but we can also feel that sales are taking longer and that several IT projects are being postponed. This is largely due to the geopolitical situation, the interest rate trend and the uncertainty in several of our major export markets,” says Natasha Friis Saxberg, CEO of IT industries.
Decrease in Danish IT exports
While the IT suppliers are doing relatively well on the Danish market, you can see a decided decline in Danish IT exports.
In the first half of 2024, Denmark exported IT solutions, hardware and consultants for a total of DKK 54.3 billion. DKK, which corresponds to an export decrease of 1.7% compared to the same period in 2023. Exports now make up 32.1% of the total turnover in the IT industry, where in 2023 it was 34.5%.
Employment and wages unchanged
In June 2024, there were a total of 107,102 full-time employees in the IT industry in Denmark, which is a slight decrease of 145 employees (-0.1%) compared to June 2023. The average salary was DKK 55,027, which is an increase of 4 .0% compared to the same period the previous year.
“When the market stops a little and there are longer orders between orders, it is important that you can keep going and attract the most talented employees. Because they will be decisive for how the company manages through a time of lower growth. That’s why we still see a disproportionate ratio of rising wages, without it being reflected in the prices customers are billed, which makes it harder for the industry to be profitable,” says Natasha Friis Saxberg.
Decrease in the number of job advertisements
If you look at the development of IT job advertisements on jobindex.dk and Computerworld it-jobbank, there has been a dramatic decline over the last period.
With a decrease in the number of IT job advertisements of 13% compared to the previous year, the IT industry is the industry that is currently experiencing the biggest drop right now. But this does not mean that the industry is in trouble.
“We have come from a level where there was perhaps an order to be able to employ 10-20 new employees immediately, to the fact that there is now perhaps only an order for 5 new employees. So it is still a growing industry. It’s just smaller than a few years ago,” says Natasha Friis Saxberg.
The IT industry also believes that there will be large growth rates and improved export figures again when there is more calm in the geopolitical situation and more predictability in global economic growth. Growth that will largely be driven by investments in cyber security, cloud and AI solutions.
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We are passionate about creating a digital society for everyone. A society in growth, and where Denmark stands as a global beacon because we utilize technology for the benefit of the climate, the economy and the individual person.
We let the passion of our members set the direction for a better future. It benefits Denmark, business, the individual citizen and our member companies.
Source: it-kanalen.dk
