By 2026, Iceland has seen significant growth in its SaaS sector, with around 45 providers offering cloud-based solutions tailored for local and international markets. The digital economy now contributes nearly 28% to the GDP, driven by increased adoption of innovative software services. The widespread adoption of low-code platforms—used by 65% of businesses—has accelerated digital transformation, enabling non-technical staff to develop applications rapidly and cost-effectively.
The SaaS revenue in Iceland is projected to reach €120 million, reflecting strong market demand and international expansion. The country's IT workforce has expanded, with approximately 8,500 professionals skilled in low-code development, supporting innovation and competitiveness. Iceland’s strategic emphasis on digital infrastructure and education is positioning it well for further growth in the tech sector, fostering a vibrant digital economy ecosystem.