3 years ago
Swedish IndTech is taking over the world

Indtech is a new concept, which is now gradually being accepted and spread around the world. It is an area of technology, where Sweden is a world leader and where Calejo is about to get an increasingly noticed role.

- The background was that ten years ago we foresaw the need for increased digitalization and that it also affected industry. Since we in Sweden have many successful companies in high-tech industry and automation, we felt a growing need to, in addition to medtech and fintech, also create a global concept for indteech, explains Örjan Larsson, Senior Advisor at the Blue Institute.

This was the starting point for several reports and analyzes about the world market for indtech and about Swedish IndTech's already very large and growing importance,

This is indteech

An indteech product is defined by its ability to collect data and algorithmize, calculate and use the results to influence, monitor or optimize processes that contribute to the industry's value added.

- Indtech is a three-way meeting between the industry's operational production technology - OT, the industrial IT area and the new, digital development. Indtech simply means that technology from different areas and times meets, develops and changes the conditions for the industry by making digital transformation possible, says Örjan Larsson.

Giant world market

According to the Blue Institute's latest report “Swedish Indtech” (2021), the world market for indtech is estimated to be worth SEK 3,500 billion, while Swedish IndTech comprises almost SEK 240 billion.

- This means that Swedish IndTech compares well with the Swedish raw material industry, process industry and many of the larger industries in the manufacturing industry. The Swedish suppliers' global market share for standard products in indtech is estimated to amount to three percent, which beats the relative size of our economy in the world by six to seven times. Or put another way - Sweden has a market share for indtech in the world, which is suitable for economies such as France, Great Britain or Germany, says Örjan Larsson and adds:

- This is a hidden industry in Sweden - a Swedish parade branch that very few know about. Add to that the fact that the average annual growth according to the same report is estimated to amount to 6-7 percent, even a figure that is significantly larger than the industry on average.

Swedish IndTech a very strong brand

The concept of indteech is now beginning to spread around the world, at the same time as Swedish IndTech has become a brand and a growth industry to be reckoned with in official and industrial Sweden as well.

- In PiiA and Automation Region, we have now fully adopted the concept and now use it in our continued high-tech industrial investments. There is a fantastic development potential here in many different industries and areas. This is a paradigm branch for the Swedish part and we are now tailoring several different indtech investments in collaboration with Vinnova, Ignite Sweden, IVA and Business Sweden, says Catarina Berglund, process manager for Automation Region.

For this, the Swedish Indtech Alliance collaboration forum has been created with a focus on continuing to support industrial innovation and transformation. Here, different focus areas and competencies are brought together to create common structures, projects and activities.

Many activities during the autumn

- The concept includes more than technology. To succeed in the transition, we need to create better conditions for entrepreneurship, innovation and skills transfer. Among other things, we have started a graduate school with industrial doctoral students in the field and together with IVA we are making efforts to increase awareness of indtech and its importance for a continued digital industrial transformation. We bring together different competencies and have started a dialogue about ecosystems, data cycles, business models, strategies and competence needs, not least in the area of ​​machine learning and AI, says Catarina Berglund.

Supports Calejo's development

This autumn, Sweden will participate with representatives from Swedish IndTech at the world conference in Dubai, and collaborations have also been initiated with Silicon Valley and other stakeholders in the USA, Canada and Germany. This is done, among other things, through various matchmaking events, where leading suppliers and industries have been invited together with interesting Swedish startup companies.

- This applies not least to a company like Calejo, whose development we are happy to support with our various campaign efforts. We want companies like Calejo to become even more numerous and have a chance to become our next ABB or Ericsson, Örjan Larsson concludes.

Örjan Larsson
Senior Advisor, Blue Institute