CFT Rated among Russia's Major IT Companies
Based on 2017, the total revenue of 100 Russia's major IT companies decreased by 1.9% in rubles and made ₽1,157 billion. In dollars, it increased by 12.6%. The companies are focusing on in-house software development, the main customers being the government and banks. The Top-20 IT companies made 80% of the total revenues.
Some 43% of the CNews100 companies’ proceeds were received through rendering of IT services. The share of income from hardware supply, including within the framework of project implementation, remained at the same level of around 20%.
The share of income from software development grew substantially and reached 32% in 2017 as compared to 21% the year before, showing the growth of this IT market sector for the past two years.
The overall revenues of CNews100 participants can be segmented by branches as follows. 2017 witnessed significant increase in the share of software supply agreements concluded by CNews100 participants with government agencies, by 36%. The share of income from contracts with financial institutions remained at some 21%. The third large segment of software customers was the telecom sector, which totaled to 11% of the revenues of the top-100 companies.
The analysts are deterred from making forecasts for the current 2018. What they assume is that, with the current energy prices remaining relatively high, with no serious geopolitical crises, and in view of the start of the “Digital Economy” program, the Russian IT market might be perfectly capable to overcome challenges and begin cautious growth.