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Slovakia is a small country, but from many points of view it is actually ahead of larger countries in the European Economic Community region. The evolution of spending on Software and IT Services (SITS) clearly shows the increasing maturity of the Slovak IT market. Pierre Audoin Consultants (PAC) report, SITSI Slovakia, presents the evolution of the market, the trends and also the challenges faced by the country.
November 8th 2010 - Over the last 17 years, Slovakia has undergone transition from a centrally-planned economy to a market economy. The Slovakian IT market has been continuously moving towards maturity, even in difficult economic times. Following a flat growth in 2009, the IT Services market started to recover in 2010 and will further accelerate to growth rates in the 6-8% range.
Of course, Slovakia was significantly affected by the general economic context as its export-driven economy is dominated by the manufacturing sector, which registered a strong decline in production. Banking sector, more conservative than in other countries, weathered rather well the storm, but there were other factors (adherence to the Euro) that further eroded its revenues and profits. Public sector was the most resilient industry.
“2009 was a tough year for IT suppliers and CIOs. The majority of end-user organizations gave their CIOs significantly lower budgets and also asked them to increase efficiencies in certain business operations. Outsourcing has been gaining share and importance in the market, but the volumes are still quite small”, explains Madalin Dobre, Consultant at Pierre Audoin Consultants (PAC) in Bucarest.
b(Nevertheless, 2010 is a positive year for all sectors though no big growth rates will be seen. In the commercial sector, a combination of increased demand for exports and higher confidence in the economy has triggered some discretionary budgets. However, the public sector growth will be significantly lower due to a change in the government following the June 2010 elections.
PAC latest reports on the subject: SITSI Slovakia (Market Report, Economic Data, IT Services, SAP Services, Software, Company Rankings, Vertical Sectors, Companies profiles).
About Pierre Audoin Consultants (PAC): Pierre Audoin Consultants (PAC) is a global market research and strategic consulting firm for the Software and IT Services Industry (SITSI). PAC helps IT vendors, CIOs, consultancies and investment firms by delivering analysis and advice to address a range of the growth, technology, financial and operational issues.
Our 35+year heritage in Europe – combined with our US presence and worldwide resources – forms the foundation of our ability to deliver in depth knowledge of local IT markets, anywhere. We employ structured methodologies – undertaking thousands of annual face-to-face interviews on both the buy and sell side of the market, as well as a bottom-up, top-down approach – to leverage our research effectively.
PAC publishes a wide range of off-the-shell and customized market reports – including our best-selling SITSI program – in addition to our suite of strategic consulting and market planning services. With 16 offices across all continents, we deliver the insight that can make a difference to your business.