The software and IT services industry is on track to recover, according to industry companies and specialist analysts. As the data shows from 2014 onwards, with the exception of the pandemic period, both the software market and the IT services market are moving upwards with an average growth rate (2014/2021) of +31.6%.
It is estimated that the growth rate of the sector will range between 4.5% and 6% on an annual basis and in absolute terms the value of the IT and software services sector in Greece will exceed 1.4 billion in 2023.
According to Stamatina Panteleou, Director of Economic-Sectoral Studies of ICAP, the dominant category in the domestic software market is Application Software, as it covers 70%, while the remaining 30% belongs to the Systems Software category.
Based on current data, the market for software and IT services is divided into three main – general categories: those related to technology consulting services, the provision of services for Greek software or custom solutions, the provision of services for foreign ERP software and other services. The second category includes companies that produce Greek software (business software for ERP & CRM solutions) mainly for the small and medium Greek market or for comparable industries. The third category includes companies that resell and offer foreign software services.
