The software industry is one of Finland’s most prominent industry sectors. The industry - along with software entrepreneurship - has grown rapidly since the early 1990s. At the end of 2007, there were about 1050 software companies in Finland. Their business
ranges from infrastructure software and data security solutions to various Internet and wireless applications, with strong technology forming the basis for innovative products. An increasing number of Finnish software companies seek to expand their operations to global markets and welcome contacts from U.S. companies.
The United States is the number one supplier of standard, non-customized application software. Competition for new-to-market computer software companies is strong and comes from previously established U.S. companies, such as Microsoft, Novell etc.
The Finnish software industry is characterized by the following trends:
• Expanding focus and application areas beyond traditional information and communications technology (ICT) software market (convergence)
•Fast-growing number of new start-up software companies
•Increasing role of Web-related software
•Fast-growing role of embedded software
•Increase in software exports
•Consolidation of software industry (mergers and acquisitions)
•Increase in mobile software
More than two out of three Finnish software companies develop and produce traditional ICT software. International software vendors have, however, rapidly increased their shares in the Finnish market. Finland’s most common exporting countries are Sweden, the United States, and Germany. Best Prospects/Services
The software market is less affected by the financial downturn, and quality products in Business Intelligence, offering clear value to the customer, may do well in the market. Although competitive, the security market also offers opportunities for high-quality products. The Finnish market is small, and large companies are few in number - they tend to have established software systems. Therefore, software market opportunities for U.S. companies are mostly within the small and medium-sized enterprises (SME) market.
Finland has expertise in developing computer software products and is looking for U.S. partners that can provide funding. Opportunities
Due to changes in recent years in Russia and the Baltic countries, Finland also serves as an excellent gateway to these emerging markets.
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An interesting statue not far from downtown Helsinki, Finland