The market is expected to register a strong growth of 5.9% in its CAGR during the projected period to reach US$ 6,245.8 million by 2020.
Valley Cottage, NY -- (SBWIRE) -- 06/14/2019 -- Future Market Insights (FMI) released its latest report titled, "Poland IT Software and Service Market Forecast and Assessment, 2014 – 2020". According to the report, the Poland IT software and service market was valued at US$ 4,104.3 Mn in 2013 and projected to reach US$ 6,245.8 Mn by 2020, registering a CAGR of 5.9% during the forecast period.
The Poland IT software and service market is driven by factors such as changing consumer buying pattern, advanced technology adoption, and product innovation through mergers and acquisition. Further, presence of cloud computing, digital transformation and, enterprise mobility are expected to accelerate the Poland IT software & services market growth in the near future.
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The Poland IT software and service market mainly represents two segments that includes software and services. In 2013, service segment dominated the Poland IT software & service market with more than 50% revenue share and is expected to lose its dominance to software segment by 2020. The software segment is further sub-segmented into infrastructure, application and other software. Among all the aforementioned sub-segments, infrastructure software accounted for the largest sub-segment, with 46.6% of the total Poland IT software market revenue share in 2013; and is projected to continue its dominance during the forecasted period. On the other hand, application software is anticipated to witness a fastest growth rate for the forecast period.
The service segment is further sub-segmented into outsourcing, implementation and consulting. Among all the aforementioned sub-segments, outsourcing service to dominate the market with more than 40% share of overall service segment, by 2020. However, consulting service is expected to be one of the fastest growing market with a CAGR of 1.2x the overall Poland IT service segment during the projected period.
By end use type, the Poland IT software and service market is segmented into banking, public sector, telecom, financial service and insurance (BFSI), healthcare, media & entertainment, manufacturing, energy and utility, wholesale & distribution, transportation, and retail. BFSI, telecommunication, media and entertainment, and manufacturing sectors accounted for 60.5% of the overall Poland IT software and service market share in 2013. The growth is attributed to the acceptance of various technological platforms such as e-commerce, enterprise resource planning (ERP), business intelligence, and mobile banking solutions in the end use industries. Moreover, public sector is expected to exhibit a CAGR of more than 6.0% during the forecast period.
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Major participants in the Poland IT software & service market continue to focus on acquisitions and mergers, partnerships in order to increase their geographical presence and customer base. Key players in the Poland IT software and service market are Microsoft Corporation, SAP SE, Oracle Corporation, Comarch SA, IBM Corporation, Asseco group, Software mind SA, Luxoft Holding, Inc., OEX business Services, and Hewlett-Packard Company.