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Thursday, February 2, 2023

Russian IT market collapsed due to war

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According to the German digital association Bitkom, sales fell by around a quarter to 32.46 billion euros last year. A further decline of 5.6 percent is expected for this year.

“The whole of Russia is only the size of Baden-Württemberg in the IT market,” says Bitkom CEO Bernhard Rohleder. A strong landscape in information and communication technology was the future hope of the Russian economy. With the war, Russia cut itself off from global innovations. The trend will continue because tens of thousands of IT experts are currently leaving Russia, says Rohleder.

Global market is growing

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The industry is growing globally. According to Bitkom forecasts, the global market is expected to grow by 4.8 percent to EUR 4.33 trillion this year. The most important market is the USA with a market share of 35.7 percent. Russia’s share will drop to just 0.8 percent.

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