Recently released market study: Slovenia Information Technology Report Q4 2013

New Computer Technology research report from Business Monitor International is now available from Fast Market Research

[UKPRwire, Tue Aug 27 2013] The Slovenian IT market has been hit hard by recession and we forecast the total IT market value will grow to EUR797mn in 2014. With stagnation also forecast in 2013, we forecast only modest growth of 2.45% this year as the market continues to feel the effects of the deepening recession and the impact on IT spending of a wave of austerity cuts. Meanwhile, a new banking crisis and rising unemployment will further constrain demand for IT products and services. While the market has had a challenging few years, the fundamentals of rising incomes over the medium term, alongside continued modernisation of enterprises and public administration means the market should expand with a CAGR of 4.5% 2013 to 2017.

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Headline Expenditure Projections

Computer Hardware Sales: EUR362mn in 2012 to EUR364mn in 2013, an increase of 0.5% in local currency terms. Initial indications are that the launch of Windows 8 has done little to boost demand, while the economic environment continues to result in business caution in corporate and small- and medium-sized enterprise (SME) segments.

Software Sales: EUR157mn in 2012 to EUR164mn in 2013, an increase of 4.5% in local currency. Large enterprises still account for about half of the spending on enterprise application solutions (EAS) in Slovenia. IT Services Sales: EUR212mn in 2012 to EUR222mn in 2013, an increase of 4.7% in local currency terms. The IT services market will outperform in 2013, based on the demand for cost cutting products such as cloud computing and outsourcing.

Key Trends & Developments

* Recent growth trends in the Slovenian IT market have been dominated by the performance of the economy as a whole. Private demand, company investment and government expenditure all face headwinds over the coming quarter as confidence is fragile in light of the wider economic challenges. There has been a reallocation of IT budgets from new procurements to the maintenance of existing systems and hardware. However, larger recent projects from some organisations in traditional IT spending verticals such as utilities and banking demonstrate that companies are still willing to invest in IT to boost competitiveness and support new services.
* One relative bright spot is the public sector, which should be a source of opportunity for IT vendors even in a period of fiscal austerity. Some large projects are under way or being launched. For instance, there is an initiative to create an e-health system in Slovenia by 2020 is one prime example, while the Ministry of Finance is also implementing an e-tax system. IT services companies are considered to be the best positioned to benefit from this trend, as well as from IT projects tendered across various sectors, including education, retail and financial institutions.

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