You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Romanian software, IT sector revenue to reach 4.5 bln euro in 2018 - industry

Romanian software, IT sector revenue to reach 4.5 bln euro in 2018 - industry Romania’s software, IT industry revenues - ANIS study graph

BUCHAREST (Romania), September 12 (SeeNews) – The revenue generated by the software and IT services industry in Romania is expected to reach 4.5 billion euro ($5.2 billion) in 2018, the Software and Services Industry Employers' Association (ANIS) said on Wednesday.

Total turnover of the IT sector increased by 11% year-on-year in 2017, reaching 4.0 billion euro, ANIS said in a press release, quoting results of an annual study of the local IT market.

Exports of IT software and services accounted for 75.6% of total turnover. Out of total exports of IT products and services, some 75% goes to the European market, 22% to the US market, and the remainder is being directed to other markets.

The top 10 companies generate about a quarter of the market value. Also, out of the top 300 IT software and services companies operating on the local market, 40% are Romanian companies.

"It is gratifying that the tech industry continues to grow, but the forecasts show that under similar conditions it will soon reach a flat stage. To maintain and accelerate growth, companies need a predictable and healthy environment that encourages significant technology investments across the economy and the public sector," ANIS president Teodor Blidarus said.

According to the ANIS study, the number of employees with full-time contracts in the software and IT services sector has reached 89,850, a 7.5% increase compared to 2016. Of these, 88.6% occupy technical positions, the rest holding positions in non-technical departments. Also, three quarters of the companies with the largest number of employees have foreign capital in their ownership stricture.

Founded in 1998, ANIS represents the interests of more than 130 Romanian IT companies and supports the development of local software and services industry with over 38,000 employees.

($=0.8624 euro)

Compare