Market research and analysis firm IDC reported that the Norwegian IT services market declined more than 3% in 2009.
The Norwegian IT market was worth NOK27.47bn ($4.36bn) in 2009 and is expected to grow to NOK31.54bn($5.01bn) in 2014, at a CAGR of 2.8%, the firm said.
The market observer said Norway withstood the financial crisis better than most countries in Western Europe in 2009, with its GDP falling by just 1.9%.
IDC Sweden managing director Nils Molin said that due to the high oil prices and relatively low exposure in the manufacturing sector, Norwegian GDP held up well, which limited the fall in the IT services market.
For 2010, IDC expects the market to stabilise and to see growth in the second half of the year.
