The IT&C services market rose by 23.4% in 2020, and the wholesale trade of IT and telecommunications equipment by 20.5%, according to an analysis performed by Arctic Stream, a Romanian provider of services in the field of communications technologies and equipment, data centers and software solutions.

It resulted in an overall IT&C market growth rate of 22.3%. The total market is estimated at RON 58.8 bln (EUR 11.9 bln) in 2020, compared to RON 48.1 bln (EUR 9.75 bln) in the previous year.

Arctic Stream anticipates an annual market growth of at least 14-15% in the next 3-4 years.

Moreover, after the IT&C sector was the equivalent of about 7% of Romania's GDP during 2015-2020, it could reach the equivalent of 10%, in the context in which both private companies from different industries (banking, retail, energy and utilities, etc.), as well as state institutions will continue to invest in digital transformation.

Last year, Arctic Stream recorded a turnover of approximately EUR 8 mln, 120% more compared to 2019, and a profit of over EUR 1.2 mln, 200% more than the previous year.

(Photo: Makym Klimov/ Dreamstime)

andrei@romania-insider.com