ICT market grew by 11.39 percent in terms of revenue in 2021, driven by the software segment, which grew by almost 30 percent | ICT Business | TechBuzz

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This year, ICTbusiness.info is starting a large ICT analysis of the domestic market, as before, in cooperation with Dun & Bradstreet Croatia. Our goal is to show all key segments of the domestic ICT industry, the strongest companies and key financial indicators.

According to data prepared by Dun & Bradstreet Croatia, and analyzed by the ICTbusiness.info team, it can be seen that last year, compared to 2020, the total revenue of the ICT market reached HRK 39.7 billion with a growth of as much as 11.39 percent compared to the year days earlier.

At the same time, the software segment pushed the market the most, reaching HRK 20.24 billion annually, with a strong growth of 29.92 percent. In the computer segment in 2021, domestic companies achieved total revenues of HRK 5.96 billion with a growth of 6.85 percent. The only market segment that recorded a decline in revenue is the telecommunications segment, by 6.8 percent on an annual basis to HRK 13.49 billion.

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If we look at the period from 2016 to 2021, the average annual growth of the market is 6.7 percent, while the market was pushed the most by the software segment, which grew by an average of 16.05 percent per year, while the computer segment grew by revenue 5.01 percent , while the telecom segment recorded an annual revenue decline of 1.31 percent.

We know that many will say that the list will again include companies that may not belong to this segment by predominant activity, but the NKD is realistically the only real determinant for analysis. The problem of course arises because for many the NCEA, ie the main activity according to the NCEA, is only one in a series of activities, sometimes it is not crucial. Thus, the entire ICT belongs to the three NKD software areas 62.01, 62.02, 62.03, 62.09, 63.11; computers 26.20, 58.21, 58.29, 95.11 and communications and telecoms 26.30, 61.10, 61.20, 61.30 and 61.90. According to these NCEAs, a total of 17,000 companies are under analysis.

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Revenues of the domestic ICT sector in the period from 2016 to 2021

Revenues of the ICT sector 2016 2017 2018 2019 2020 2021 YoY 2017/2016 YoY 2018/2017 YoY 2019/2018 YoY 2020/2019 YoY 2021/2020
telecomunications 14.415.131.900,00,00 14.974.335.800,00 15.160.769.200,00 14.476.849.900,00 13.492.604.600,00 4,34 -0,44 1,25 -4,51 -6,80
Software 9.616.473.200,00 10.873.340.100,00 12.723.029.300,00 14.705.702.300,00 15.581.918.000,00 20.243.769.700,00 13,07 17,01 15,58 5,96 29,92
Computers 4.669.431.600,00,00 5.502.047.300,00 5.595.989.100,00 5.579.417.400,00 5.961.579.200,00 7,57 9,54 1,71 -0,30 6,85
IN TOTAL 28.701.038.716,00 30.937.623.217,00 33.199.412.400,00 35.462.462.619,00 35.638.187.320,00 39.697.955.521,00 7,79 7,31 6,82 0,50 11,39
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Source: Dun & Bradstreet Croatia, analysis by ICTBusiness.info

Comparison of revenues of the ICT sector 2021 towards 2020

Revenues of the ICT sector 2020 2021 YoY 2021/2020
telecomunications 14.476.849.900,00 13.492.604.600,00 -6,80
Software 15.581.918.000,00 20.243.769.700,00 29,92
Computers 5.579.417.400,00 5.961.579.200,00 6,85
IN TOTAL 35.638.187.320,00 39.697.955.521,00 11,39

Source: Dun & Bradstreet Croatia, analysis by ICTBusiness.info

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I am admin of techbuzz.asia blog & I provide tech-related news. As a part of my hobby, I make content related to technology and gadgets reviews too. I love to be a content creator apart from it, I am a full-time employee in an MNC company and manage blogs systematically. You can mail me at [email protected]

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