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Telecom. IT: Romania's IT market exceeds 9 billion EUR

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 Romania's IT market has exceeded 9 billion EUR, and in the next two years it could reach over 12 billion EUR, according to the results of the latest market study carried out by the Employers' Association of the Software & Services Industry (ANIS).

"We notice a continuous growth of the software and services market in Romania, the impact of the IT sector in the national gross domestic product reaching 7pct. There are very high hopes regarding the further development of this segment, through the large digitization projects that are going to be implemented at the local economy level. Thus, in the next two years, the value of the IT market in Romania would exceed 12 billion EUR," ANIS executive director Gabriela Mechea stated.

According to the quoted source, the IT market of Romania is dynamic and continuously growing, taking into account that, from a volume of 4.6 billion EUR in 2015, it reached a value of 9 billion EUR. The development of the IT market took place even in 2020, which was marked by the pandemic, when there was an increase in volume by 1.1 billion EUR.

Compared to the general trend of Romania's economic growth, the IT segment has an annual growth rate three times higher, the percentage being 15 - 17pct per year.

In respect to the volume of the telecommunications market, it recorded a somewhat more moderate increase, reaching from 4.5 billion EUR in 2015 to 5.1 billion EUR in 2020.

"The value of exports from the IT & services area has also increased considerably, 2.5 times in the last 5 years. Thus, from 2.5 billion EUR, exports reached a volume of 6 billion EUR. In addition, the volume of R&D (research and development) services exports has tripled in the same period of time, from 200 to 600 million EUR," the quoted study mentions.

Exports from the telecommunications area also registered a 35pct increase in this time interval. Therefore, from 566 million EUR, it reached 870 million EUR, and current estimates show future increases of 5pct annually.

In respect to the capital configuration, it remained stable at the national level, so that 64pct of the IT companies have foreign capital, and 36pct Romanian capital.

The IT and services sector has 147,000 employees, the majority (47pct) belonging to large companies on the local market. 

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