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.
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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



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