The software industry in Romania is expected to rise by 12.5% in 2020, reaching a business volume of roughly EUR 8.2 billion, according to a KeysFin forecast. However, the rise is much more temperate than in 2019, when the IT sector reported a turnover of EUR 7.3 billion, almost 20% more than in 2018 and by almost 70% as against 2015.
All in all, the software industry maintains in the top key industries in the Romanian economy, with the IT&C share in the GDP of 6.1% in 2019 and 7.1% in the first half of 2020.
“We consider that innovation should be the base of Romania’s sustainable development, and the software industry should be the main pillar of the local innovation (…) It clear that for 2020, as a paradox, the pandemic has represented an opportunity for those companies that came up with proper digitization solutions for the needs of several industries, obtaining results beyond expectations,” said Roxana Popescu, Managing Director al KeysFin.
In 2019, there were over 24,000 software companies in Romania, by 6.2% more than in 2018 and by 38.9% more than in 2015. Out of them there are 22,600 micro companies, 110,000 small companies, 328 medium-size enterprises and 20 large companies.
The medium-size enterprises have generated the highest share of the turnover- 37.4% of the total, followed by the big corporations- 25.7%, small companies-19.8% and micro-enterprises-17.1%.
Oracle remains the largest software company in Romania, with a turnover of over EUR 200 million (2.7% of the total). IBM Romania ranks second, with over EUR 197 million-2.6%), while Ericsson Telecommunications Romania comes third, with EUR 161 M, representing 2.2% of the total.
Bitdefender ranks fourth, with around EUR 140.5 million, and Endava Romania comes fifth, with EUR 135.5 million.
The biggest 10 IT companies have cumulated turnovers of roughly EUR 1.3 billion, representing 17.6% of the total.