Russia IT Services Market Report 2017

Russia IT Services Market Report 2017

  • March 2017 •
  • 104 pages •
  • Report ID: 4897291 •
  • Format: PDF
Russia’s IT services market is the twelfth largest in the world. It currently occupies around 0.5% of the global IT services market. The market value of IT services accounts for around 8.5% of the overall IT market in The IT services market grew at a CAGR of around 6.5% in the historic period and is expected to grow at a CAGR of around 3.0% in the forecast period. The market grew mainly due to the significant steps taken by the Russian government towards ease of doing business in the country under the “Doing Business In Russia 2016” initiative. Relaxation and standardization of tax legislation in accordance with global (G20/OECD) standards, improvements in its transfer pricing rules, regulations regarding control of foreign companies, and transparency of government work have driven the IT services market in Russia. Going forward, economic challenges prevailing in the country and decrease demand for IT services from industries such as oil and gas, manufacturing and defense will slow the Russian IT services market.

Social networking has witnessed a gradual growth in Russia. In 2016, the social media penetration reached around 48% while the global average was over 30%. An average internet user in Russia spends 1.4 hour on the internet through a mobile device and around 4.7 hours through desktop or laptop, per day. In January 2016, it was estimated that an average social media user spends almost 1.9 hours on social media per day.

In 2015, Russia had around 2.3 billion cellular mobile subscriptions, increasing from 2.1 billion in 2012. The country had more than 26 million fixed broadband connections in 2015. In 2015, Russia had average internet speed of 11.6 Mbps and an internet penetration of 63.7%.
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