Noida, UP -- (SBWIRE) -- 03/09/2011 -- According to our new research report “Russia IT Industry Analysis” the Russian information technology industry, though small in terms of global standards, is presently one of the rapidly growing industries in the world due to its fundamental benefits of low cost and high expertise. Not only domestic demand, but also exports considerations boosted the industry’s growth fundamentals and positioned Russia as a regional hub of IT industry developments. Especially, packaged software market orchestrated phenomenal performance and grew manifold during the last few years. The research further revealed that the spending on packaged software will continue to witness robust growth in near future and the market will register 18.8% CAGR growth during 2011-2014.
The study identified that the Russian software companies are well known for their effectual delivery of services and capability to deliver supreme quality work. However, the year 2009 was exceptionally discouraging for Russian packed software market, when growth dipped in negative territory. The industry recovered strongly in 2010 with improving business conditions and increasing IT spending of public and private entities. Backed by various supporting factors and strong market fundamentals, the packaged software market will rapidly expand during the forecast period and will sustain Russian attractiveness as a viable investment destination.
Apart from packaged software, various other market segments, such as IT hardware, IT services have also shown promising market outlook in Russia and emerged as potential business segments during the last few years. Corporate as well as household demand of these market segments is poised for impressive growth in the next 3-4 years, which will uplift the overall market sentiments.
Our report “Russia IT Industry Analysis” has been authored to evaluate the growth potentials of the Russian IT market and its segments. The report provides extensive research and conceptual analysis of past and current performance of the IT industry, including software, hardware, and services industry. The report evaluates factors, such as better manpower services at relatively low cost and huge potential for the foreign investors to invest in the sector. Most importantly, the report has also provided the industry forecast based on correlation of past drivers, challenges, and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Russian IT industry, which will prove decisive for clients.
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