One of the world’s largest nations Russia keeps showing signs of full recovery from 1990-s financial crisis with impressive GDP growth rates in the last couple of years. This is to be accounted to Russia’s mature traditional industries, as well as innovative ones like software development for export (IT outsourcing). A recent report by market researchers at RNCOS entitled “Russia IT and Outsourcing Industry Forecast to 2011” states Russia is to maintain its leading position in the ITO market by surging its market share.
The scrupulous analysis provides all-round overview of the Russian ITO industry, its past and present day, IT spending, custom software development and box software solutions markets, perspectives and challenges for the country’s IT industry.
According to the report Russia has deservedly earned its spot among the most popular ITO destinations. Most important for IT outsourcing are its deep human resource pool and advantageous tax regime. These factors coupled with Russia’s far-famed intellectual potential support ITO industry health.
The Russians renowned globally for their creativity, autonomy, analytical thinking, and ability to solve complex tasks are valuable human capital for such industries as ITO which require huge intellectual investments. Russia in this respect scores high on the international arena and is a favorable offshore location. It attracts both foreign investors and buyers of software development outsourcing services who set up their offshore development centers in the country in cooperation with the local IT services vendors. Consequently, it fuels Russia’s IT industry’s further growth and fosters IT exports increase.
Geographical proximity to both European and Asian countries contribute to Russia’s attractiveness. With such geographic reach, time zones compatibilities resulting in easier communication and better services quality, Russian software vendors are more flexible and convenient partners than many of their competitors.
Stepping aside from oil industry, Russian governments have realized the bright perspectives of the domestic IT industry and have already taken measures to facilitate its growth. Their initiatives in legislation, taxation, and promotion of local companies abroad are fruitful for all parties and will drive to tangible results in the near future.
Forecast from RNCOS: the share of the Russian software exports will reach 10% of the global software outsourcing market by the end of 2010, which is a 7% increase from 2006, cementing the country’s place in the leading ITO trinity.
Source: RNCOS
The scrupulous analysis provides all-round overview of the Russian ITO industry, its past and present day, IT spending, custom software development and box software solutions markets, perspectives and challenges for the country’s IT industry.
According to the report Russia has deservedly earned its spot among the most popular ITO destinations. Most important for IT outsourcing are its deep human resource pool and advantageous tax regime. These factors coupled with Russia’s far-famed intellectual potential support ITO industry health.
The Russians renowned globally for their creativity, autonomy, analytical thinking, and ability to solve complex tasks are valuable human capital for such industries as ITO which require huge intellectual investments. Russia in this respect scores high on the international arena and is a favorable offshore location. It attracts both foreign investors and buyers of software development outsourcing services who set up their offshore development centers in the country in cooperation with the local IT services vendors. Consequently, it fuels Russia’s IT industry’s further growth and fosters IT exports increase.
Geographical proximity to both European and Asian countries contribute to Russia’s attractiveness. With such geographic reach, time zones compatibilities resulting in easier communication and better services quality, Russian software vendors are more flexible and convenient partners than many of their competitors.
Stepping aside from oil industry, Russian governments have realized the bright perspectives of the domestic IT industry and have already taken measures to facilitate its growth. Their initiatives in legislation, taxation, and promotion of local companies abroad are fruitful for all parties and will drive to tangible results in the near future.
Forecast from RNCOS: the share of the Russian software exports will reach 10% of the global software outsourcing market by the end of 2010, which is a 7% increase from 2006, cementing the country’s place in the leading ITO trinity.
Source: RNCOS
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