The IT services market in Slovakia
05. 10. 2009 
In 2008, the IT services market in Slovakia totaled $626.85 million, representing a year-on-year growth of 30.4% in U.S. dollar terms. Measured in local currency, the market expanded by 12.9% compared to the previous year.
HP was the leading IT services provider in Slovakia in 2008 based on revenue of $118.09 million and 13.9% share. Siemens IT Solutions and Services placed second with $71.12 million last year for 8.4% share of the market. Siemens Program and System Engineering ranked third with $68.94 million and 8.1% market share in 2008. IBM and Soitron rounded out the top five IT services providers in the country last year with 6.0% and 5.5% market shares, respectively.
In 2008, the total IT services market in Slovakia was valued at $626.85 million, representing a year-on-year growth of 30.4% in U.S. dollar terms. The systems integration category accounted for the largest share (19.9%) of IT services revenue last year, followed by applications consulting and customization (19.6%) and custom application development (15.5%). The combined outsourcing category comprised 7.0% of the IT services market in Slovakia last year. In 2008, combined finance (banking, insurance, and financial services) was the largest vertical market in Slovakia, with $166.56 million in services-related spending for 26.6% market share.*
The combined government vertical placed second, with 23.1% share based on services expenditure of $144.88 million. Combined manufacturing entities undertook IT services investment of $77.00 million in 2008 to rank as the third-largest vertical market, with 12.3% market share. The fourth-largest vertical was utilities, which accounted for 11.8% ($74.24 million) of total IT services spending in the country.
IDC projects spending on IT services in Slovakia to increase at a CAGR of 4.4% across the five-year forecast period. Expenditure on IT services is forecast to total $775.91 million in 2013.
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