KeysFin: Local software industry to reach new record level of over EUR 11 bln


Get real time updates directly on you device, subscribe now.

The turnover of companies in the software industry in Romania increased by approximately 14.5% compared to 2020 and was 246% higher than in 2012, reaching a record level of almost EUR 10 billion in 2021, according to data from the Ministry of Finance.

We estimate the continuation of the uninterrupted growth trend of the last 10 years and thus reaching a new all-time high this year of more than EUR 11 billion, and we have chosen to publish the results of the latest edition of the study on the evolution of the software industry close to December 1st, because we observe how software is consolidating its key role in the development and digitization of the economy and transforming Romania into a regional hub, after one of the fastest growth rates, if not the fastest in the last 10 years, of almost 250%“, said Diana Florescu KeysFin economic analyst, one of the most important providers of business information solutions in Romania.

In 2021, over 30 thousand companies were active in the software industry in Romania, 12% more than in 2020 and 112% above the 2012-level. Of these, almost 29 thousand were micro-enterprises, 1.1 thousand small companies, 356 medium companies and 25 large companies.

Castlings in the top 10 Software companies* in Romania

In line with the estimates from the previous edition of the study on the evolution of the local software industry, in 2020 UiPath SRL recorded a turnover increase to almost EUR 250 million and became the leader of the local software market by turnover, position which we estimate to have maintained in 2021“, said Diana Florescu, KeysFin economic analyst.

BITDEFENDER SRL reached up second place for the first time in history, with a turnover of almost EUR 220 million in 2021, replacing IBM ROMANIA SRL, which subsequent to an annual increase of 1.7% dropped to third position, with a turnover of EUR 199 million in 2021.

The 10 largest companies in the industry recorded a cumulated turnover of approximately EUR 1.8 billion, representing 18% of the total in 2021.

Record net result in 2021

The net result recorded by companies in the software industry increased substantially to almost EUR 1.6 billion in 2021, 57% more than in 2020 and more than 7-fold that of  2012.

Also, companies in the software industry generated 77% of the net result recorded by the entire IT&C sector and over 5% of the net result of all non-financial companies in Romania in 2021.

The share of turnover generated by Romanian software companies in the IT&C sector increased from 36% in 2012, to over 60% in 2021 through the lens of the much faster advance of the software component, of 3.5 times compared to the doubling turnover in the IT&C sector from 2012.

At the level of the total turnover generated by non-financial companies in Romania, the share of the software industry increased from 1.2% in 2012, to almost 2.5% of the total in 2021.

Approximately 62.2 thousand companies had in the description of their main scope of activity reported to the Ministry of Finance consulting and/or management activities in 2021, respectively NACE codes: 6202, 6203 (Computer consultancy activities, Computer facilities management activities) both part of the software industry, within the IT&C sector, 6920 (Accounting, bookkeeping and auditing activities; tax consultancy), 7021 (Public relations and communication consultancy activities), 7022 (Business and other management consultancy activities), 7112 (Engineering activities and related technical consultancy), the last 4 NACE codes being part of the Professional Activities sector and 7830 (Workforce supply and management services, from the Administrative & Support services sector).

These had a cumulative turnover of lei 38.8 billion, 130 thousand employees and recorded a net profit of lei 10.3 billion. Of these, more than half, i.e. almost 32 thousand companies, did not have any employees in 2021.

On the other hand, almost a third, i.e. 31.5% of the profitable companies that had consulting and/or management activities in the description of their main scope of activity, and had a turnover between EUR 500 thousand and EUR 2 million were paying profit tax in 2021.

* Upon drafting this study, the 2021 results of UIPATH SRL (Fiscal Code: 34737997, a subsidiary of UIPATH INC., indirectly controlled via UIPATH NETHERLANDS HOLDING B.V.) were not available. The top 10 includes KeysFin’s estimates of the company’s turnover in 2021.

Note: The KeysFin analysis is based on annual, non-adjusted, aggregated financial data reported by companies to the Ministry of Finance (at the end of the period) whose main scope of activity was one of the following NACE codes: 5821 (publishing of computer games), 5829 (other software publishing), 6201 (computer programming activities), 6202 (computer consultancy activities), 6203 (computer facilities management activities), 6209 (other information technology and computer service activities), 6311 (data processing, hosting and related activities) or 6312 (web portals). All figures are expressed in euro, and the exchange rate used is the official one, published by the National Bank of Romania (at the end of the period).

DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.
So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRL
UniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002

1 Comment
  1. Hanna says

    Various challenges often appear before entrepreneurs as they conduct their business. This applies to both complex business processes and pest control. In all this, the entrepreneur is helped by high-quality software. An integral part of the company’s work is pest control management software. This software saves time on process management and reduces downtime. Reliable software is the key to a successful business.

Leave A Reply

Your email address will not be published.