A large number of companies operate in the sector of software and IT Services, the majority of which are small sized. The largest sector companies provide a wide range of IT services, while some of them are subsidiaries of multinational IT companies.
The total value of Software sales in the domestic market followed an upward trend both in 2020 and 2021. Particularly, in 2021 it increased by 7.0%.
The domestic Software market followed an upward trend in the years 2014-2021 with an average annual growth rate of 4.6%. In 2021 the market grew by 4.0% compared to the previous year.
Application Software is the dominant category in the domestic market of software with a share of 70.2% in 2021, while it accounted for 69.8% in 2020 and 68.1% in 2019. The domestic market of Application Software registered a rise of 11.6% in 2020 and 4.7% in 2021.
The domestic market value of systems software increased at a lower rate compared to Application Software. In 2020 the market increased by 3.4% and in 2021 by 2.5%.
The domestic market of IT Services increased by 7.5% in 2020 compared to 2019 and by 8.4% in 2021. The particular market grew from 2014 to 2021, with an average annual growth rate of approximately 3.5%.