Russian IT Market Worth $7Bln - Communications Minister Reiman
As of today, the Russian market of information technology (IT) is worth approximately $7 billion, Communications Minister Leonid Reiman said on Thursday, Nov. 18, Interfax reports.
Nov 18, 2004
As of today, the Russian market of information technology (IT) is worth approximately $7 billion, Communications Minister Leonid Reiman said on Thursday, Nov. 18, Interfax reports. "The market has been developing quite well in recent years, but if we don't do anything, we might see a decline," said the minister.
Leonid Reiman said that the Russian Communications Ministry came up with suggestions about a number of development measures that would provide for the growth of IT market in the period between 2004 and 2010 by 30 percent annually. If these measures are introduced the IT market in Russia may be worth as much as $40 billion in 2010. The minister also noted that according to various forecasts, by 2010 this sector of the economy will employ more than 3.5 million people. "All that will allow Russia to take its place among industrially and economically developed countries," said Reiman.
Speaking of the so-called "shadow" area of the IT market, the minister estimated that its share in the overall volume of sales is quite large. "In accordance with official data, the volume of software exports this year will amount to $350 million, while market experts estimate this figure at $500 million. This difference is what makes up the shadow market," said Reiman.
Leonid Reiman said that the Russian Communications Ministry came up with suggestions about a number of development measures that would provide for the growth of IT market in the period between 2004 and 2010 by 30 percent annually. If these measures are introduced the IT market in Russia may be worth as much as $40 billion in 2010. The minister also noted that according to various forecasts, by 2010 this sector of the economy will employ more than 3.5 million people. "All that will allow Russia to take its place among industrially and economically developed countries," said Reiman.
Speaking of the so-called "shadow" area of the IT market, the minister estimated that its share in the overall volume of sales is quite large. "In accordance with official data, the volume of software exports this year will amount to $350 million, while market experts estimate this figure at $500 million. This difference is what makes up the shadow market," said Reiman.