IT Services - Romania

  • Romania
  • Revenue in the IT Services market is projected to reach US$1,272.00m in 2024.
  • IT Outsourcing dominates the market with a projected market volume of US$455.50m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.07%, resulting in a market volume of US$1,790.00m by 2029.
  • The average Spend per Employee in the IT Services market is projected to reach US$154.90 in 2024.
  • In global comparison, most revenue will be generated in the United States (US$522.00bn in 2024).

Key regions: United States, China, India, Japan, Germany

 
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Analyst Opinion

The IT Services market in Romania is experiencing significant growth and development in recent years.

Customer preferences:
Romanian customers are increasingly interested in IT services that can help them improve their business efficiency and productivity. Many companies are looking for IT solutions that can help them automate their processes, reduce costs, and improve their customer experience. As a result, there is a growing demand for cloud computing, big data analytics, and artificial intelligence (AI) services in the country.

Trends in the market:
The IT Services market in Romania is experiencing a number of key trends. One of the most significant trends is the growing adoption of cloud computing services. Many companies are moving their IT infrastructure to the cloud in order to reduce costs and improve their flexibility. Another trend is the increasing use of big data analytics to improve business decision-making. Companies are collecting and analyzing large amounts of data in order to gain insights into customer behavior, market trends, and other important factors.

Local special circumstances:
Romania has a highly skilled workforce in the IT sector, with many talented software developers, engineers, and other IT professionals. This has helped to drive the growth of the IT Services market in the country. Additionally, Romania has a relatively low cost of living compared to other European countries, which makes it an attractive location for IT companies looking to set up operations in the region.

Underlying macroeconomic factors:
The Romanian economy has been growing steadily in recent years, which has helped to support the growth of the IT Services market. Additionally, the country has a favorable business environment, with low taxes and a relatively low level of bureaucracy. This has helped to attract foreign investment into the country, which has also contributed to the growth of the IT Services market. Overall, the IT Services market in Romania is expected to continue to grow in the coming years, driven by strong customer demand and favorable macroeconomic conditions.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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