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Russian Software Market To Double To $7 Billion in 2009

Files under: Enterprise, News, Tech
Posted by: Quintura @ 08:36 [8. 10. 08]

According to a recent research from ISDEF (Independent Software Developers Forum), the Russian software market was valued at $3.7 billion in 2007. The enterprises accounted for 65% of total sales. The rest was divided between the state companies (25% of total sales) and consumers (10% of sales). The market is expected to grow to $5 billion in 2008 and $7 billion in 2009. The software exports from Russia accounted for $1.7 billion in 2007, reported ISDEF.

ISDEF holds a conference for independent software developers in Russia twice a year. During the last conference on September 27, twenty software start-ups presented their businesses to venture capital investors from ABRT Fund, Almaz Capital, Alliance ROSNO, Intel Capital, Delta Capital, Oradell Capital, VTB Venture Fund, Finam, and other firms.

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