The turnover of the Romanian software and IT services sector has posted a 21% growth year-on-year to €3.08bn exceeding expectations, according to the local Employers’ Association of the Software and Services Industry (ANIS) recent study “Software and IT services in Romania, 2016”.
Additionally, the trend is expected to continue throughout 2016 and to grow to €3.6bn, with an annual growth forecast at 15% for the next five years against earlier announced 11%, it says. In 2015 the exports of the software and IT services increased by 31% counting year-on-year and at €2.09bn it represented 67% of the total turnover of the entire sector. According to the further predictions for 2016, it is expected that the total exports value will reach €2.5bn which means more than a double growth compared to the same period four years ago.
As far as the domestic market is concerned, Romania will see a modest increase of 4% against the prior year. The local market currently accounts for approximately 33% of the total revenue for the entire sector, the study says.
The analysis also proves that the consumer technology absorption is still low across both public and private sectors. ANIS, which was founded in 1998, currently includes 120 members and represents the interests of Romanian IT companies, with both local and foreign capital.