Russia IT market becomes more mature

Paweł Olszynka, Head IT&Telecoms Analyst, PMR

Russia IT market continues to report double-digit growth rates. Although the market remains hardware-oriented, it also becomes more mature and the penetration of more advanced solutions is constantly increasing. The majority of big and mid-size Russian businesses already have corporate IT systems. A key development trend is the gradual transformation from a market driven by new IT investments to a market where operational IT services, including outsourcing, support and IT systems maintenance, take a bigger share. The Russian SaaS services market is currently small but promises the fastest growth in the next 3-5 years. It is also worth noting that the banking industry in Russia showed a 35% increase in their IT budgets in 2011. The domestic IT market has attracted Asseco, the largest Polish IT company, which has recently announced it signed a letter of intent to acquire one of the leading providers of IT solutions for the finance and banking sector in Russia and CIS. The Polish integrator has refused to reveal the name of the company, but our unofficial sources indicate R-Style Softlab, Center of Financial Technologies or Diasoft.