Siili as an investment

Market review

Market and positioning

With the completion of the Supercharge acquisition in early 2021, we will reach European customers even better and gain new access to the IT services market of over € 300 billion in the economic area*. We strongly believe that the COVID crisis in Europe has created a medium-term peak in demand for digital services. Cooperation with Supercharge was launched quickly after the beginning of 2021, and common synergies have been sought and realized in the pooling of resources.

The importance of international business in Siili is growing as intended and in line with goals. Despite the pace of this growth, Finland is currently our largest business area. In the Finnish market, the most important area for us is digital services and solutions, which account for about half of Finland's total IT services market of less than EUR 5 billion. In recent years, the growth in demand for smart and digital services in particular has strongly supported the market, and we believe the trend will continue in the coming years. Based on market sources, the expected growth of new digital services is in the order of approximately ten percent**.



* IDC Nordic IT Services Market Forecast (2019), Inderes Analysis (2021), Management Estimate

** IDC Market Forecast European IT investments 2019-2023 (2020), The Business Research Company European IT Services Market Report (2017), Statista IT Services Market Revenue (2021), management review