The Russian IT software and services
market has been forced into a
makeover post the financial turmoil of 2008. The sector has undergone
restructuring and is now much more organized. The IT software and services
market has contributed extensively to the development of the Russian IT
industry since the economic crisis.
For almost a decade, the utilization of IT software and services
in Russia has been a commanding trend and has resulted in a strong positive
impact on the market. As a consequence, the Russian IT market exhibited a
paradigm shift in the form of inflow of technology. Business enterprises and
government agencies are increasingly adapting technologies generally used in
domestic and personal settings.
The Russian IT software and services market is witnessing
continuous growth owing to demand from several industry sectors such as
manufacturing, media and entertainment, communication, hospitality, banking and
financial, and others. As such, the Russian IT software and services market
will demonstrate a CAGR of 7.2% between 2014 and 2020 to be worth
US$8628.2million by 2020.
Online Trade to Drive Russian IT Software and Services Market
The growing support offered by the Russian government to
e-commerce, e-banking, and other online operations is boosting demand from the
IT software and services market in Russia. Additionally, the influx of newer technologies
for cloud computing, enterprise mobility, big data, and predictive analysis
will further fuel growth of the IT market in Russia. Moreover, the new
technologies, if introduced, will entail demand for IT software and services
from social networking services and online marketing solutions.
Despite the positive growth indicators, the Russian IT software
and services market witnessed a downward curve in 2014. However, analysts at
the International Data Corporation predict that any major economic crisis in
the foreseeable future will offer lucrative opportunities for a majority of the
IT software and services providers in the market. In such a scenario, the IT
corporations that can adapt to changing market conditions, optimize processes,
and attract other IT enterprises will lead the Russian IT software and services
market.
RUSSOFT Instrumental in
Directing Russian IT Software and Services Market
In Russia, ‘RUSSOFT’ is a nationwide association consisting of
the best software developing corporations in the country. The association’s
directives and policies have been instrumental for companies to expand horizons
and have helped the Russian IT software and services market massively.
Additionally, RUSSOFT members receive opportunities for participation in overseas
projects and also establish relationships with foreign counterparts that are
mutually beneficial.
Large Multinational IT Corporations to Further Boost Russian IT
Software and Services Market
Many large IT corporations across the world are exploring
opportunities to venture into the Russian IT market, which is expected to
create a highly promising scenario for the latter. To keep the move
unidirectional, a large investment bank in Russia, the BCS Financial Group,
outsourced client requirement and customer interaction services to IBM. The
venture between IBM and the Russian bank will help strengthen IBM’s presence in
the Russian IT Software and services market.
Table of Content
1. An Overview of
Economy
1.1. Russian Economy
Overview
1.2. Russian Economy
PESTEL Analysis
2. An Overview of IT
Market in Russia
2.1. Russian IT Market
Drivers & Restraints
2.2. Y-o-Y Growth
Comparison: Russia V.s. Global IT Software & Services Market, 2013 – 2020
(%)
3. Russian IT Market
Value Forecast ($ Mn) and Y-o-Y Growth (%), 2013 – 2020
3.1. Russian IT Market
Analysis by Type
3.2. Russian Software
& Services Market Analysis by Type
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4. An Overview of IT
Market in Russia by Verticals
4.1. Russia V.s.
Global IT Market CAGR, by Type, 2014 - 2020 (%)
4.2. IT Spending to
GVA, by Verticals, (%)
4.3. Overall Trends
Analysis by Verticals
4.4. Potential Clients
by Verticals
5. Major IT Topics in
Russia
5.1. Major IT
Technologies Implementation Scenario in Russia
5.2. Future Roadmap
5.3. Russian IT Market
Relative Market Attractiveness in Russian IT Market, by Verticals, 2013
5.4. Verticals
Maturity Level Analysis Over different Time period
6. Key Market Outlooks
7. Competitive
Landscape
7.1. Key IT Software
Providers in Russia
7.2. Key IT Services
Providers in Russia
Upcoming
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