The Bucharest-Ilfov region has established itself as the undisputed leader in Romania\u2019s IT sector, both in terms of the number of companies and the business generated, while Cluj, Timi\u0219 and Ia\u0219i are the other IT hubs in the country, according the “Romanian IT Market Study: Evolution and Perspectives”\u00a0conducted by the Romanian Economic Monitor team within Babe\u0219-Bolyai University, in partnership with the European Bank for Reconstruction and Development (EBRD) and Transilvania IT Cluster.<\/p>\n
The study includes 19,033 Romanian IT companies with recent annual turnover of more than EUR 50,000, according to the ListaFirme.ro database.<\/p>\n
In a national ranking of IT businesses, Bucharest leads by far, with a turnover of almost EUR 8.8 billion in 2024 and 6,369 companies included in the analysis, to which Ilfov\u2019s indicators can be added: business worth EUR 1.21 billion and 406 companies. The next-ranked, Cluj, is listed with business worth EUR 2.48 billion and 2,650 companies.\u00a0<\/p>\n
Overall, the five counties (four counties and Bucharest) with the highest turnover account for 87% of total revenues, 75% of total net profit, and 85% of the total number of employees in IT companies in Romania, highlighting the unequal geographical concentration of the IT sector. These are Bucharest, Cluj, Timi\u0219, Ia\u0219i and Ilfov.\u00a0<\/p>\n
Aside from the largest players, smaller counties are also impressive. Despite the small number of companies included in the analysis (therefore not very relevant at industry level), C\u0103l\u0103ra\u0219i County nevertheless ranks first in terms of productivity, having the highest average turnover per employee. Other counties with good scores are Buz\u0103u, Ilfov, Tulcea and Ialomi\u021ba.\u00a0<\/p>\n
The map created based on turnover at city level highlights several important IT centers that dominate Romania\u2019s IT sector, the top five cities accounting for 85% of its total turnover and employing, in total, more than 136,000 people.\u00a0<\/p>\n
According to the analysis, IT companies in Bucharest recorded rapid growth, with a compound annual growth rate (CAGR) of turnover of 19.4% (2020-2024), supported by strong profit growth and a stable level of indebtedness, making this city Romania\u2019s main IT center. IT companies in Cluj-Napoca recorded a compound annual growth rate (CAGR) of 19.8% in turnover (2020-2024), driven by workforce expansion and significant growth in equity, while maintaining stable profitability.<\/p>\n
IT companies in Timi\u0219oara recorded the highest turnover growth (38% CAGR) among the major cities, with spectacular growth in net profits and significant expansion of equity during 2020-2024.<\/p>\n
Meanwhile, IT companies in Ia\u0219i recorded steady expansion, with a compound annual growth rate (CAGR) of 19.6% in turnover and strong growth in equity, while maintaining a high profit margin.<\/p>\n
The strong concentration of the IT sector in a few regional poles has two sides, according to Levente Sz\u00e1sz, coordinator of the RoEM-UBB FSEGA team. \u201cOn the one hand, it is an important advantage: in university centers such as Bucharest, Cluj, Timi\u0219 and Ia\u0219i, genuine IT ecosystems have formed, in which universities, the critical mass of specialists, multinational companies and local entrepreneurship mutually reinforce each other. This clustering continues to attract investment, talent and know-how and facilitates the emergence of higher value-added activities,\u201d explained Levente Sz\u00e1sz, coordinator of the RoEM-UBB FSEGA team, cited by Economedia<\/a>.<\/p>\n On the other hand, concentration also represents a vulnerability. \u201cA very large part of the industry depends on the development of a few centers and is thus exposed to the same shocks: from reduced external demand and changes in multinational companies\u2019 strategies to the transformation of the traditional business model under the impact of AI,\u201d the researcher added.<\/p>\n radu@romania-insider.com<\/a><\/em><\/p>\n (Photo source:\u00a0Rawpixelimages<\/a>|Dreamstime.com<\/a>)<\/em><\/p>","protected":false},"excerpt":{"rendered":" The Bucharest-Ilfov region has established itself as the undisputed leader in Romania\u2019s IT sector, both in terms of the number of companies and the business generated, while Cluj, Timi\u0219 and Ia\u0219i are the other IT hubs in the country, according the “Romanian IT Market Study: Evolution and Perspectives”\u00a0conducted by the Romanian Economic Monitor team within […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11835","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/11835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11835"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/11835\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}