“We estimate the continuation of the uninterrupted growth trend of the last 10 years and thus reaching a new all-time high in 2022 of over EUR11 billion, and we have chosen to publish the results of the latest edition of the study on the evolution of the software industry close to December 1st, because we observe how software is consolidating its key role in the development and digitization of the economy and transforming Romania into a regional hub, after one of the fastest growth rates, if not the fastest in the last 10 years, of almost 250%“, said Diana Florescu, KeysFin economic analyst, one of the leading providers of business information solutions in Romania.
In 2021, more than 30 thousand companies were active in the software industry in Romania, 12% more than in 2020 and 112% above 2012 level. Of these, almost 29 thousand were micro-enterprises, 1.1 thousand small companies, 356 medium companies and 25 large companies.
“In line with estimates from the previous edition of the study on the evolution of the local software industry, in 2020, UiPath SRL recorded a turnover increase to almost EUR250 million and became the leader of the local software market by turnover, position which we estimate to have maintained in 2021“, said Diana Florescu, KeysFin economic analyst.
BITDEFENDER SRL reached up second place for the first time in history, with a turnover of almost EUR220 million in 2021, replacing IBM ROMANIA SRL, which subsequent to an annual increase of 1.7% dropped to third position, with a turnover of EUR199 million in 2021.
The 10 largest companies in the industry recorded a combined turnover of almost EUR1.8 billion, representing 18% of the total in 2021.
The net result recorded by companies in the software industry increased substantially to almost EUR1.6 billion in 2021, 57% more than in 2020 and more than sevenfold compared to 2012 level.
Also, companies in the software industry generated 77% of the net result recorded by the entire IT&C sector and over 5% of the net result of all non-financial companies in Romania in 2021.
The share of turnover generated by Romanian software companies in the IT&C sector increased from 36% in 2012, to over 60% in 2021 through the lens of the much faster advance of the software component, of 3.5 times compared to the doubling turnover in the IT&C sector from 2012.
As regards the total turnover generated by non-financial companies in Romania, the share of the software industry increased from 1.2% in 2012, to almost 2.5% of the total in 2021.
Approximately 62.2 thousand companies had in the description of their main scope of activity reported to the Ministry of Finance consulting and/or management activities in 2021, respectively NACE codes: 6202, 6203 (Computer consultancy activities, Computer facilities management activities) both part of the software industry, within the IT&C sector, 6920 (Accounting, bookkeeping and auditing activities; tax consultancy), 7021 (Public relations and communication consultancy activities), 7022 (Business and other management consultancy activities), 7112 (Engineering activities and related technical consultancy), the last 4 NACE codes being part of the Professional Activities sector and 7830 (Workforce supply and management services, from the Administrative & Support services sector).
These companies had a combined turnover of RON38.8 billion, 130 thousand employees and recorded a net profit of RON10.3 billion. Of these, more than half, i.e. almost 32 thousand companies, did not have any employees in 2021.
On the other hand, almost a third, i.e. 31.5% of the profitable companies that had consulting and/or management activities in the description of their main scope of activity, and had a turnover between EUR500 thousand and EUR2 million were paying profit tax in 2021.
The KeysFin analysis is based on annual, non-adjusted, aggregated financial data reported by companies to the Ministry of Finance (at the end of the period) whose main scope of activity was one of the following NACE codes: 5821 (publishing of computer games), 5829 (other software publishing), 6201 (computer programming activities), 6202 (computer consultancy activities), 6203 (computer facilities management activities), 6209 (other information technology and computer service activities), 6311 (data processing, hosting and related activities) or 6312 (web portals). All figures are expressed in euro and the exchange rate used is the official one, published by the National Bank of Romania (at the end of the period).