The evolution of the Romanian Software Market

The software and services industry is one of the very few fields that had a favorable evolution even during the recent crisis periods.

August, 2019 | 3 min read

The software and services industry is one of the very few fields that had a favorable evolution even during the recent crisis periods. As an example, the average annual growth rate of 4% was quite low compared to the years before the crisis, which amounts to 15-20%.

There is a strong differentiation within the software segment - services area vs. product area, and Romania makes no exception.

The actual status-quo of the Romanian Software Market

As reported by the US Department of Commerce, Romania’s IT market is one of the fastest growing markets in Central and Eastern Europe. The IT market is forecasted to grow at 3.1% over 2017-2021 to a value of RON 9.9 billion ($2.47 billion) in 2021.

Other data reported by the US Department of Commerce - export.gov

Romania has had an important tradition in research, development, and innovation in the technical field. The technical expertise and lower labor costs of engineers have helped attract interesting and more significant projects towards the local industry. Industry clusters can be found in major university cities: Bucharest, Cluj-Napoca, Iasi, Timisoara, Craiova, and Brasov.

Romanian industry clusters

The Software and IT Services market is worth around 5 billion euros ($5.5bn) and is estimated to grow by around 15% each year until 2021. The structure of the domestic market is as follows.

Romaninan Economy Infographic

Technologies, talents and trends in the Romanian Software Market

.Net and JAVA seem the most sought after technologies in the actual Romanian software landscape, Germany, US and Netherlands being the countries well represented in the market. Iasi emerged as an IT hub in the last years, and some companies are prospecting Moldova in their search for IT talent.

Talent map

IT jobs in Romania

In the end...

A new study from PEGA and Marketforce says that is expected both AI and automation to have a positive impact on business performance. Almost eight out of ten (79 percent) of their respondents expect RPA to deliver significant efficiency improvements and 59 percent expect to see an enhanced customer experience by relieving staff of repetitive manual processes such as data inputting. AI is expected to have a similar effect, with 73 percent expecting it to improve efficiency and 62 percent expecting an improved customer experience.

Keeping in mind these figures, we can say that only sky’s the limit for the IT services development, and that Romania seems a very promising alternative keeping in mind the accelerated growth of the sector in the last years.

Contact us

In need of a software solution?

Contact us

Spread the news

Our blog

Why choose End to End Solutions
Why end to end solutions when it’s about complex implementations?
In the software development landscape, the processes tend to be fluid, and different suppliers fulfill different needs...
Read more
The evolution of the Romanian Software Market
The evolution of the Romanian Software Market
The software and services industry is one of the very few fields that had a favorable evolution even during the recent crisis periods...
Read more
Transparency in Public Procurements
Transparency In Public Procurements
Public procurement refers to the process by which public authorities, such as government departments or local authorities, purchase work, goods or services from companies...
Read more

Get in touch with us