The market is expected to register a strong growth of 7.2% in its CAGR during the projected period to reach USD 8,628.2 million by 2020. Both the IT software and services segments made considerable contribution to the overall growth of Russian IT market in the European region.
Increased e-government and e-banking initiatives by governments and banks are some of the prominent factors driving the demand for IT software and services in Russia.
Also, introduction of new technologies for enterprise mobility and big data analytics by key players such as IBM, SAP and IBM are expected to boost the market growth, thereby increasing competitiveness in the market.
The banking, communication, media and entertainment, and manufacturing sectors owe a significant contribution to the Russian IT software and services market.
Key IT trends, development and technology adoption in Russia and across all the verticals
Market value and forecast by IT software & services, and verticals
Relative market attractiveness by verticals and position of IT software and services providers by industry presence and product portfolio
Russian IT software and service provider landscape and recommendations for market players
Competitive landscape of key players, such as Microsoft Corporation, Oracle Corporation, SAP SE, IBM Corporation, IBS Group, Hewlett-Packard Company, LANIT Group, Compulink Group, Asteros and I-Teco inRussian IT software and services market.
The Russian IT software and services market is predicted to grow at 7.2% CAGR through 2032.
Increased e-government and e-banking initiatives by governments drives the Russian IT software and services.
The Russian IT software and services market is expected to surpass USD 19.81 Billion by 2032.
The Russian IT software and services market size is anticipated to be over USD 9.88 Billion in 2022.
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