Navi Mumbai, Maharashtra India (PressExposure) June 20, 2011 -- Information Technology (IT) is one of the fastest growing industries of Russia. The country has long been a pioneer in science and technology research, development, and investment in the IT industry. The government has also taken some notable attempts such as, incentives and tax breaks to subsidize development and boost the IT market. Further, the push from public sector and active participation of private sector has positioned as well structured Russia as a competitive IT market, which is luring international companies and investors.
According to our report "Russia IT Industry Analysis", the low cost of labor combined with the comparison of skills, geo-political risk, and solid infrastructure, makes Russia an emerging leader in the growing world of IT outsourcing. Despite industry setback in 2009, Russia is considered to possess huge growth potential. The country has several advantages, among which a good telecommunications infrastructure and the creativity of local developers have been highly acknowledged. The overall IT spending, which is anticipated to grow at CAGR of around 17% during 2010-2014 will amplify outsourcing industry's growth in coming years and will position Russia as a prominent IT outsourcing hub in the world.
At the segment front, IT hardware will continue to lead the market in overall demand-supply mix. The automation projects in public sector enterprises and recovering private sector demand will sustain its market attractiveness during the forecast period. The packaged software segment is also poised for rapid developments and ERP, CRM etc. are all set to propel the market to reach new heights.
Our report "Russia IT Industry Analysis", is an outcome of widespread research and conceptual analysis of the Russian IT industry potentials. It underlines the issues related to the success of the industry and provides a prudent analysis on its various aspects. It is a comprehensive overview of the past and current performance of the IT industry, including software, hardware, and services industry. Besides, it presents segment wise market forecasts, which will help clients in understanding the probable future outlook of the industry. The report evaluates factors like, better manpower services at relatively low cost and huge potential for the foreign investors to invest in the sector. A brief overview of the regional market developments and key players facilitate a balanced blend of current market competition and geographical opportunities.
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