The 2023 analysis of young high-growth enterprises (Gazelles) in the ICT sector across Europe reveals substantial fluctuations. Hungary leads with a share of 21.09%, maintaining a steady position, but with only minor growth over the previous year. Slovakia showed an extraordinary rise by 29.67% in 2023, starkly contrasting its previous year's performance. Latvia experienced the highest growth rate at 41.88% YoY, despite its smaller share of the total. Conversely, Italy, Portugal, and Romania showed notable increases in their shares, while the Nordic countries, Norway and Iceland, lag with minimal shares and moderate growth rates.
Future trends to monitor include Hungary's potential stabilization at high levels, Slovakia's momentum in growth rate, and whether emerging Baltic states like Latvia can sustain their rapid expansion. Furthermore, watch for evolving policies and investments impacting the Nordic region's transformative potential in the ICT Gazelles landscape.
Top countries in Number of Young High Growth Enterprises (Gazelles) in ICT Share by Country (Units (Enterprises))
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 21.09 | 2023 | +18.67% | +21.22% | View data |
| 2 | 2 Italy | 16.82 | 2023 | +5.97% | +9.55% | View data |
| 3 | 3 Portugal | 14.45 | 2023 | +10.91% | +11.75% | View data |
| 4 | 4 Romania | 13.03 | 2023 | +12.24% | +8.85% | View data |
| 5 | 5 Czech Republic | 10.66 | 2023 | +9.76% | +14.37% | View data |
| 6 | 6 Slovakia | 10.42 | 2023 | +22.22% | +29.67% | View data |
| 7 | 7 Latvia | 5.45 | 2023 | +21.05% | +41.88% | View data |
| 8 | 8 Lithuania | 5.45 | 2023 | +9.52% | +3.9% | View data |
| 9 | 9 Norway | 1.42 | 2023 | 0% | +24.57% | View data |
| 10 | 10 Iceland | 1.18 | 2023 | +25% | +13.62% | View data |
