Bulgaria’s IT market loses momentum

Bulgaria’s IT market loses momentum

Bulgaria’s IT market loses momentum

After years of robust growth pace, the Bulgarian IT market will slow down and register a modest single-digit rise in 2009 provided that general elections bring no surprises and that the country’s gross domestic product does not stray more than one per cent away from 2008 levels, even though IMF forecast points to a 3.5 per cent slump, showed data by IDC Bulgaria.

The IT market added up to $1.17 billion in 2008. The bulk of it, or 71 per cent, is hardware sales, followed by software (15 per cent) and services (14 per cent). The software segment will hold ground in 2009 betting on flexible solutions such as rented software. The Bulgarian IT sector will buck the uptrend in central and eastern Europe (CEE) taking a slide in 2010.

Bulgaria’s computer market was the fastest growing in CEE last year adding a staggering 48.8 per cent versus the region’s average of 10.9...
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