TAdviser: Russian IT Market In 2022 And Outlook For 2023

Cinimex has moved 6 spots up in the list from last year, placing 139, in the immediate vicinity to Russia’s 100 largest IT companies, and was listed among the 100 contenders to make it into Top 100.

The ranking includes Russian system integrators, IT distributors, software and hardware developers; IT-insourcers of the largest domestic companies and representatives of foreign IT companies doing business in Russia.

Total revenue in the Top 100 companies in 2022 reached 2.64 trillion rubles. The threshold that secured a position in the Top 100 was 4.77 billion rubles in revenue.

According to TAdviser, the Russian IT market posted negative growth in 2022. Total market was down by 5% to 2.1 trillion rubles. The decline wasn’t as severe as expected a year earlier. The exodus of foreign companies and the reduction of their revenues in Russia were partially offset by increased revenues of domestic software and hardware developers, including businesses engaged in IT security, and IT insourcers for the largest Russian companies.

As estimated by TAdviser, in 2022, Russian developers of IT products from the Top 100 notched a 35% rise in revenue. Companies from IT security grew their revenue by 20%. IT-insourcers are the ones with the best revenue growth though – around 60%.

According to TAdviser, Russian IT integrators registered an average of 5% decline in revenue in 2022. Revenue has also declined for IT distributers – by approx. 25%. But it were the Russian offices of foreign IT companies that plummeted the most, dropping 50% on average compared with last year.

Analysts expect that 2023 will see further tangible growth for insourcers due to imports phase-out gathering pace across all industries. System integrators and distributors, who will manage to reorganize their partner relations, logistics, marketing, and business models are also expected to achieve a positive dynamic. Overall, total IT market volume in Russia may grow between 5 and 15%.

For TAdviser100 Ranking: Largest IT companies in Russia and a comprehensive overview of the IT market see the link.