The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Romania has developed into a pre-eminent offshoring centre for software development and IT
services, a trend that has overshadowed the performance of the local market. Local industry growth has
strong momentum due to the low cost of skilled labour, but the domestic sales opportunity is also now
improving as economic conditions strengthen. We believe IT demand growth will be sustained by rising
incomes and the growth of technology-intensive sectors such as computer services and finance and we
envisage the market will expand at a CAGR of 4.3% over 2016-2020 to RON7.02bn.
Latest Updates & Industry Developments
? Hardware Sales: From RON3.23bn in 2016 to RON3.58bn in 2020, corresponding to a compound
annual growth rate (CAGR) of 2.6%. Growth outlook lowered in Q416 to reflect the negative impact of
smartphone ownership proliferation on PC volumes, particularly for tablets.
? Software Sales: From RON1.25bn in 2016 to RON1.56bn in 2020, a CAGR of 5.7%. There is an
opportunity for cloud solutions to deepen the market and unlock the potential presented by relatively low
enterprise application penetration rates.
? IT Services: From RON1.44bn in 2016 to RON1.88bn in 2020, a CAGR of 6.8%. The local IT services
industry is expanding, while domestic demand growth for cloud computing and outsourcing also has