Fast Market Research recommends "Bulgaria Information Technology Report 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 12/24/2013 -- The Bulgarian IT market is one of the least developed in Europe, with relatively low penetration of hardware among consumers and enterprises. It also trails many of its regional peers in terms of adoption of new technologies such as cloud computing and Big Data analytics. Despite these challenges, and the drag on short-term performance due to economic weakness, there are positives for the medium-term outlook. The low PC penetration rate means there is potential for vendors to tap into demand from first-time buyers and upgrades/replacements - in contrast to more developed markets. We expect adoption of cloud services to accelerate as end-users become better educated and supporting telecoms infrastructure improves. Finally, there is scope for Bulgaria to expand rapidly as an outsourcing destination, but in the short-term the shortage of skilled labour continues to be a bottleneck for faster development.
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Headline Expenditure Projections
- Hardware Sales: BGN1.088bn in 2013 to BGN1.119bn in 2014, +2.9% in local currency terms. Sales of hardware in the retail market constrained by weak consumer outlook including stagnant wages, weak housing market and constrained access to credit. Low-cost tablets are the area of outperformance, with sales booming in 2013 and 2014 at the expense of notebooks.
- Software Sales: BGN184mn in 2013 to BGN196 in 2014, +6.6% in local currency terms. Demand for enterprise software deployments expected to increase as economic conditions improve in 2014 and into 2015. The extent to which enterprises will be turned to cloud services in order to cut costs is however uncertain.
- Services Sales: BGN314mn in 2013 to BGN333mn in 2014, +6% in local currency terms. The outsourcing market in Bulgaria has considerable potential for growth, however the shortage of skilled labour continues to act as a barrier to faster growth.
Key Trends & Developments
- The Bulgarian hardware market has experienced the same trends as much of Central and Eastern Europe, with sales of desktops and notebooks in 2013 cannibalised by tablets. The influx of low-cost Android based tablets has proven a serious drag on notebook sales as consumer make purchasing decisions based on price and ease of use. However, desktop and notebook vendors still have a growth opportunity from first-time buyers, with PC penetration in Bulgaria far behind the EU average at the end of 2012. BMI believes the first wave of tablet purchases was largely supplementary to already owned productivity devices, and it is uncertain that first-time buyers will be satisfied with the current functionality of tablets. With this in mind the area of hybrids/convertibles will be an interesting area of the market in 2014, and could see vendors carve out a space within the tablet market.
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