The majority of Russian software companies (68%) reported revenue growth last year. This became possible due to the increased level of competition between local firms after a number of foreign companies withdrew from the domestic market of the Russian Federation on the backdrop of international sanctions. informs Vedomosti newspaper, referring to the Software Developers Association (ARPP) “Domestic Software” statistics.
“According to ARPP research, 68 percent of domestic development companies reported an increase in revenue. Despite this, 19 percent of the companies said that their revenues decreased, while 12.6 percent remained at the same level.
At the end of last year, most companies operating in the information technology (IT) field also increased their workforce staffing. At the same time, it concluded that changes in financial indicators were largely driven by foreign policy events.
April 21 Press Service of the Office of the Deputy Prime Minister of Russia Dmitry Chernyshenko reportedHe said that at the beginning of 2023, the demand for IT personnel of Russian companies increased by 63% compared to 2022. In the first months of this year, the number of open positions in the Russian Federation domestic market increased to 59 thousand.