Abstract
The Norwegian project services market developed strongly during 2007 and grew
by 8.8% to reach a value of NOK 8,208 million. The start of 2008 has been
strong too but we do see signs of a weakening market at this moment (mid-year)
and believe that the autumn will show lower growth. There are major shifts
taking place in the market and the current offshore wave represents the biggest
of them. All vendors need to figure out how to position themselves with regard
to offshore sourcing.
As the scenario now is shifting from a market focused on growth to a market
focused on cost and internal efficiencies, the range of opportunities also
changes.
"However, our base scenario is positive, and we believe that the underlying
theme - realizing the benefits from the Internet - is strong enough to provide
a shelter against recession in the economy. That' s also the background to the
very modest changes that we have made to our forecast for the coming years,"
said Nils Molin, managing director of IDC Norway.
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