Telecommunication industry in selected Nordic countries - statistics & facts
Now more than ever he telecommunication sector represents a very important part of the information and communication technology industry (ICT). Growing use of 5G and greater demand for bandwidth as global digitization continues continues to drive interest in the companies that make communication possible. Some of the leading telecommunications providers in Europe are in fact Nordic, such as Telenor and Telia. In 2022, Telenor ASA was the leading telecom provider in the Nordic region and generated both the largest turnover and net sales as of 2023. Within the Nordic countries, Norway held the largest share of the mobile operators market in 2022 and was followed by Finland.
Small market with plenty of competition
As above mentioned, Telenor ASA is a Norwegian multinational telecom company and one of the global leaders. Its revenue has fluctuated over the past few years, dipping in 2018 and 2019 but recovering into 2020 with around 12 billion euros in revenue. This recovery seems short-lived as revenue had again dropped in 2021 to nine billion, stabilizing at nine billion through 2022, though that is in line with revenue during the previous four years. Telia Company AB, the Swedish telecom giant, had net sales amounting to 90 billion Swedish kronor, or approximately eight million euros in 2022. The market is however not only dominated by Telenor as numerous other telecoms companies operate in the Nordics or specialize in the region.
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Research expert covering technology in the Nordics, AI and smart cities