The Republic of Ireland has become a hotbed for technological innovation across different industries in recent years.
Ireland, once a predominantly agricultural nation, has transformed itself into a thriving hub for technology and innovation. The Emerald Isle has attracted some of the world’s biggest tech giants, making it a major player in the global tech landscape.
As mentioned on Statista, revenue in the IT Services market is projected to reach US$4.24bn in 2024. This trend looks set to continue apace as businesses strive to jump on the bandwagon.
Read on the blog post to look at how the technology sector is powering Ireland’s economic growth.
Swifty Makes Foray into Irish Sports Betting
The Irish gambling market recently welcomed a new player after Swifty Global launched Swifty Sports IE, a state-of-the-art sports platform.
Swifty will bring its cutting-edge sportsbook and casino services to Ireland, tapping into the fast-growing online gambling sector.
The public is hungry for exciting digital betting experiences. This demand has caused the online gambling sector to grow to a $1.24 billion industry in 2024.
Swifty Sports IE has promised to improve the online gambling experience. They plan to provide users access to hundreds of thousands of sporting events and tons of casino games.
Thanks to an improved internet connection, mobile phone usage and the growing popularity of sports betting, Swifty Global has identified an opportunity to become a big hitter Irish market.
Expanding into the Irish domain is expected to spark more growth, especially as Swifty eyes a merger with Signing Day Sports (SGN) to improve its offerings and capability.
“Ireland’s dynamic market presents immense growth potential, and we are excited to position Swifty Sports IE as a leader in this space,” CEO James Gibbons said.
“With access to hundreds of thousands of sporting events each month, our platform offers a premier experience tailored for Irish users.”
Ooodles Set to Bring IT Equipment-as-a-service to Irish SMEs
London-based start-up Ooodles has become a mainstay in the fintech space with its approach to providing IT equipment as a service to small and medium-scale enterprises (SMEs).
Ooodles enjoyed plenty of success in the United Kingdom (UK) and has taken the bold step to push into the Irish market. The company is targeting around 300,000 SMEs across the Emerald Isle.
They recently received $2.7 million in funding from Altitude VC to improve their AI-powered platform, Ooodles OS.
It has been a remarkable 12 months of growth for them following the £9.8m investment they garnered last year. The funding has allowed the company to retain customers at an impressive rate while expanding its customer base.
Ooodles is built on a unique pay-as-you-go model that allows businesses to rent IT equipment such as computers and other tech hardware on subscriptions.
Most SMEs are trying to keep their heads above water and don’t have the massive funds needed to purchase all the tech equipment they require.
Oodles provides different solutions to manage credit approval, inventory and upgrades, all from their same user-friendly platform.
CTO Kannan Reghu said: “The traction we have seen in the UK validates this, and expansion to Ireland is just the beginning. We are excited to bring Ooodles’ game-changing platform to even more businesses.”
A Skilled Workforce and World-Class Education
With a focus on STEM (Science, Technology, Engineering, and Mathematics) education, Ireland has a highly educated and skilled labor population. Top-tier graduates with the newest information and useful skills are regularly produced by the nation’s esteemed colleges and technological institutes.
These educational institutions cultivate a culture of creativity and critical thinking, producing talent that top IT businesses throughout the world highly value.
Ireland is a desirable location for international tech companies looking to access a pool of highly skilled workers because of its dedication to professional development and lifelong learning, which further improves the skills and expertise of its workforce.
UNIVERSITY eSports and the Irish Gaming Industry
The Irish gaming industry has recorded incredible growth over the years, and one of the most exciting developments emerging is the rise of eSports.
Global gaming revenue has reportedly surpassed that of music and film combined, and Ireland is set to be a pivotal player in this sector.
The Irish government is also aiding this development. They introduced the Digital Games Credit, a refundable tax incentive curated to encourage video game studios in Ireland.
Major international gaming companies stormed the Emerald Isle to establish their presence in the country. Consequently, Ireland has become a more attractive hotspot for developers and gamers.
Ireland now strives to grow young talents through initiatives like UNIVERSITY eSports, a grassroots project for students across the UK and Ireland.
The program will introduce university students to the eSports scene, helping them map out career opportunities in game development, marketing, professional gaming and more. More than ten universities have already signed up for the scheme.
UNIVERSITY eSports seasons will feature popular titles such as League of Legends, VALORANT and Overwatch 2. Students will also participate in hands-on activities designed to educate on the entertainment and professional sides of eSports.
Technology giants Intel will support the initiative with sponsorship for young talents, providing the platform to learn and grow within the industry while encouraging them with internship opportunities.
Challenges
As Ireland’s technology industry is one of the most rapidly growing industries, however the country is also exposed to many emerging issues that may affect its further development.
The major challenge is the competition from other European countries like the Netherlands and Germany, which also the same targeting their technology industry.
They are comparable to Ireland in terms of their skilled workforce, favorable tax systems, and strong government backing.
Final Thoughts
The technology sector has assumed a central force in the Irish economy. It has favourable taxes, intellectual property laws, skilled workers, and favourable environment for new companies hence winning over world’s biggest technologies.
The structures of the industry are progressive, which makes Ireland ready to sustain a top place in terms of advancing the technology.
