New Market Study Published: Russia Information Technology Report Q1 2014
Fast Market Research recommends "Russia Information Technology Report Q1 2014" from Business Monitor International, now available
[USPRwire, Fri Feb 07 2014] The Russian IT market has strong medium-term growth potential, but in the short term, growth has been hit by a weaker economic outlook and a steep decline in notebook sales in favour of low-cost tablets. The decline in desktop and notebook shipments in 2013 in Russia exceeded that reported even in some Western European markets, but we expect demand to pick up again from 2014. Looking at the medium-term growth prospects, we expect growth in the retail market due to rising PC penetration on the back of the availability of lower cost hardware, especially tablets. Meanwhile, investments by enterprises in business software and modernisation of the public sector will also drive spending growth. The market is also being boosted by Russia's historic entry into the WTO, confirmed in August 2012.
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Headline Expenditure Projections
Computer Hardware Sales: RUB328.1bn in 2012 to RUB343.3bn in 2013, +4.6% in local currency terms. The shift in consumption to lower cost tablets means growth in market value is failing to keep pace with unit growth.
Software Sales: RUB121.9bn in 2012 to RUB139.5bn in 2013, +14.5% in local currency terms. Modernisation initiatives of Russian enterprises are driving spending increases as they become more integrated in global markets and supply chains.
IT Services Sales: RUB175.0bn in 2012 to RUB201.0bn in 2013, +14.9% in local currency terms. Cloud computing services are growing rapidly, with the current growth phase relying on broader adoption, rather than more complex deployments.
Key Trends And Developments
BMI believes the Russian PC market has strong medium-term potential as incomes rise and tariffs are reduced. However, in the short term, the outlook remains uncertain after very weak performance in 2013 when there were steep declines in desktop and notebook sales as a result of weaker economic conditions and cannibalisation of sales by tablets. The growth in sales of tablets has kept the market on track in terms of total shipments, but with consumers predominantly opting for low-cost tablets, the transition has stymied increases in overall market value. Looking ahead, we expect tablets will continue to sell well, but there will be increasing competition from hybrid/convertible devices that blend productivity and mobility use cases.
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