The IT sector’s added value to Romania’s gross domestic product (GDP) is expected to reach EUR 3.61 billion this year, up from EUR 3 billion in 2015.

Moreover, the software and IT services sector will continue to grow at an annual rate of 14-16% and reach EUR 6 billion in 2020, according to a study by local tech expert Constantin Magdalina, based on data from the Software and Services Industry Association - ANIS.

Exports will remain the main growth engine for this sector, as the local software and services market are expected to grow at a slower pace.

The total value of the domestic IT market will reach EUR 1.04 billion this year, up from EUR 991 million in 2015. The domestic software market, which is estimated at some EUR 425 million this year, will increase at an average rate of 8.4% in the following years, to EUR 648 million in 2020. The IT services market will also have a growth pace of some 8.5% per year, from EUR 611 million this year to EUR 972 million in 2020, according to Magdalina’s projections.

Cloud computing is the most dynamic segment on this market. Cloud computing expenses in Romania may grow by an average 17.4% per year in the next years and reach EUR 69 million in 2020.

editor@romania-insider.com