Cinimex Improves Its Positions in RAEX Rankings
RAEX rating agency has published the 21st issue of the rankings of leading Russian IT companies. Cinimex has improved its positions in two rankings – the largest Russian groups and companies in the field of ICT (Information and Communication Technologies), as well as the largest IT companies and groups in the field of software development, climbing two spots in each and securing the 21st and 8th positions respectively.
According to RAEX, the results of 2022 showed explosive growth in the information technology market. Domestic IT professionals have been successfully occupying niches vacated by Western competitors, as well as increasing revenues from their own software and hardware developments.
IT companies have been among the most successful beneficiaries of the departure of Western competitors from the Russian market. As evident from the current ranking of the largest IT companies in Russia, their total revenues increased by a record 36% in 2022 – reaching 557.17 billion rubles. This growth not only significantly outpaced inflation (11.9%, Rosstat) but was also higher than in previous periods.
As noted by the analytical agency, the basis for today’s success includes the voluntary, forced, or even compulsory transition of customers to domestic software, necessitated by the need to replace imported software and equipment amidst the departure of foreign companies; state support for technology and production development; the development and support of existing systems; the continuation of digitalization programs; the strengthening of information security, and so on.
The software development segment is also characterized by rapid growth rates. According to comparable data from ranking participants, their total revenues in this area increased by 90% over the year and amounted to 167.504 billion rubles. This segment of the ranking remains one of the most capacious in terms of the number of participants (30 companies provided data on their revenues in this direction).
Demand remains active for developers in mobile applications and internet solutions, remote banking systems, HR functions, document management and accounting functions, e-commerce and trading, production management, procurement, supply, and logistics.
Ranking of the largest IT companies and groups in the field of software development (2023)