IT Cluster

 

The IT cluster of Iceland has a turnover of 450 million USD and around 2,100 employees and growing. The key markets for Icelandic IT are UK, Scandinavia and North America. The current key sectors are gaming, web hosting, data storage and seafood related services. Iceland has a very tech savvy population, with very good access to broadband and good education. This makes Iceland an attractive place to build and test new technology before moving into larger markets.

The sector’s fastest-growing segment has been computer game sales, whose turnover jumped six-fold in 2005–2009. The same trend can be observed overseas, in line with increased computer and Internet use. Iceland’s video game turnover is nearly entirely export-driven.