Sirma Group among the best companies in Top 100 ICT ranking in Bulgaria for 2019

Sirma Group holds prestigious positions in the critical categories in Top 100 survey

The hottest month of the year traditionally is highlighted by the release of the most prestigious and anticipated annual ranking Top 100 ICT companies in Bulgaria. The research is carried out by ICT Media as a comparative analysis based on financial criteria - the profits and gross revenues from the business activity and operations for 2019. It includes Bulgarian and international companies in telecommunication, IT, and outsourcing sectors, operating on the Bulgarian market.

The year in a nutshell

IT and TELCO market amounted to almost EUR 2.95 billion in 2019, with software revenue being the largest with EUR 522 million, and IT export volume counted for nearly EUR 1 billion. The annual growth of the participants in the ranking is almost 10%.

Software development is again the largest segment, holding the most significant share of 29 % of the total IT revenue in 2019. The software technologies, created by the Bulgarian R&D centers, are implemented in the most advanced products traded globally.

The segment revenue has jumped to EUR 444 million, with an annual growth of over 21 %. The sales of software packages added some EUR 78 million, so total Bulgaria’s software sector has grown to over EUR 523 million. Outsourcing services achieve almost threefold growth and are the second largest market sub-segment, with a revenue of EUR 341 million or over 22% of the total ICT revenue.

Despite the annual decline of about 6 percent, the System integration sub-segment is the third most important business for Bulgarian IT companies. Its share is about 16.1 %. The project business still relies not only on customers in Bulgaria but also abroad.

The IT business is developing at least three times faster than other industries. The main focus of the IT projects comprehended in 2019 is on digital transformation and energy efficiency.

Sirma’s accomplishments in individual rankings

© Data provider ICT Media.The full report is available on Bulgarian language.