Economic Crisis Unable to Stop Russia to Spend on IT

Delhi, India (PressExposure) February 22, 2009 -- According to the report “Russia IT and Outsourcing Industry Forecast to 2011” by RNCOS, IT spending in Russia is way ahead of other Eastern European countries. Despite the recent economic turmoil, Russia will continue to dominate the IT industry landscape in the region. Although there may be some budget cut on the IT spending by the companies but it will not be enough to decelerate the IT industry growth trajectory.

Majority of the spending will be on hardware and equipments followed by services and packaged software. The share of spending on hardware will decline in future and that of services and packaged software will increase. It is expected that the spending by SMEs will account for more than 40% of the total IT spending in Russia by 2012. Majority of the spending will be focused on strengthening information and data security and employee IT training needs.

According to a Sr. Analyst at RNCOS, “Over the next one to two years, growth in the IT market may slow down for a while but it will still continue in upward direction. Spending from retail consumer is expected to witness a sharp downturn as compared to spending by government, SMEs and other industry verticals. It is expected that IT spending from verticals like retail, telecomm, banks and insurance will witness least decline as these sectors will concentrate more on IT to increase efficiency levels in current downturn and cost cutting environment.”

“Russia IT and Outsourcing Industry Forecast to 2011” is an extensive research on IT and outsourcing industry of Russia. It provides qualitative and quantitative industry analysis, coupled with the factors responsible for the industry’s growth, opportunities and antagonistic forces challenging the industry. It underlines the spending patterns across the various segments of the industry.

This research report provides the segment-wise analysis, latest market trends, and the emerging areas in the Russian IT and outsourcing industry. It also contains five-year industry forecast drawn after analyzing the present and future trends in the market. The vast and detailed information given in this report will help the clients in understanding the market dynamics and align their business strategies accordingly.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

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Press Release Submitted On: February 21, 2009 at 1:12 am
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