It is relatively easy to do business in the US for Danish IT companies given the common use of the English language. Compared to other countries outside the European Union (EU), Danish companies encounter fewer market entry barriers in the US thanks to the assistance from the Danish embassy and its offices across the continent and other organizations.
The health sector, in particular, presents a high number of opportunities for Danish IT companies, since the US has the world's most expensive health system costs representing 17% of GDP, and its entire health sector is undergoing dramatic changes, offering great opportunities for Danish solutions in a variety of areas from health IT to cloud computing. The Patient Protection and Affordable Care Act and dissemination of health insurance to low-income groups offer Danish companies to grow in these domains.
The Transatlantic Trade and Investment Partnership (TTIP), which is under negotiation, is geared to further expand market opportunities for companies from EU countries giving them access to the large US government procurement market. Furthermore, the expansion of the World Trade Organization (WTO) Agreement and the International Trade Agreement (ITA) will include 201 additional IT product types opening further opportunities for Danish companies to expand their exports into the US.
Because of our highly developed welfare system, Danish companies have valuable suggestions for solutions within healthcare IT and software solutions for the public system use, which administratively can be cost-effective for US companies or the Government.
Danish companies have already managed to break through and establish themselves in the US with technologies such as green IT, smart cities and specialized software for the financial sector. Danish companies are also well established in industry-specific solutions associated with major US suppliers ERP platforms. Going forward, there is great potential growth in big data and cloud computing. The proliferation of Internet of ‘Things’ will only increase the demand for Danish IT companies.