The sector’s growth has been mainly based on service exports, which reached over EUR2bn in 2015, a 31% increase compared to 2014, and should reach EUR3bn in 2017 and EUR4bn by 2019.
The cybersecurity market in Romania is still at an emerging stage, so there is significant potential to be captured, especially considering the intellectual potential that the Romanian IT sector has exhibited over the past few years and the exposure of the Romanian market to cybersecurity threats and opportunities.
The IT industry in Romania has a need for enhanced cybersecurity in sectors such as business analytics, mobile computing, cloud computing, and social business, as the government and companies alike are increasingly dependent on cyberspace.
Many of the players in the Romanian IT and software market are recording business growth and attracting investments for further developments.
Fortech, a Western-Romanian software developer with a portfolio of over 140 clients, mostly from Germany and the US, and three operation centers in Romania, begun 2017 with a new leadership formula and a turnover of over EUR20mil.
Integrated business solutions provider Entersoft announced it increased businesses by 50% in 2016. The boost comes as result of the company's strategy to expand the ongoing contracts by 30%, new regional contracts by 30% and new Romanian projects by 40%. In 2016, Entersoft Romania was involved in projects developed on markets such as Spain, Portugal, Bulgaria, Poland, Czech Republic, Greece and Slovakia.
Local online application solution provide Zitec announced it attracted an investment worth EUR1.7mil Euro from eMag, to be used for further expansion of the company, common projects and the creation of a specialized department for European funds and grants. The company posted a solid growth in the past five years, reaching EUR4mil turnover in 2016, with EBITDA boost of 12%. Zitec's investments portfolio comprises companies such as Zipongo.com, cosQuare.com, HAC!BD publishing house.
Romanian software company Tremend forecasts a 40% turnover increase in 2017, from EUR 3.5mil in 2016, mainly due to the high demand for advanced software solutions. The increase is based on both the consolidation of existing accounts and the expansion of the client portfolio.
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