Report: Ukraine’s IT industry generated $4.5 billion in revenue in 2018

The Ukrainian outsourcing firm N-iX has just released a new study, “Ukraine – The Country That Codes,” confirming IT is a major growth engine for the Ukrainian economy.  

Here are some of the findings of this report:

  • The IT industry generated $4.5 billion in revenue in 2018, taking the third place among export industries in the country. Overall, in recent years, the industry showed an annual growth rate of 26%. 
  • There are more than 1,600 IT service companies and 185,000 IT specialists in the industry.
  • The USA and Western European countries remain the largest destination markets. While in 2012, the USA accounted for 81% of the Ukrainian IT service exports, more recent research suggests the share of Western Europe has grown significantly over the years. 
  • A.T. Kearney put Ukraine in 20thplace on its 2019 Global Services Location Index, which was a steady climb from 42ndplace in 2009. 
  • Nearly two thirds of Ukrainian IT specialists live in Kyiv (KIev), Kharkiv (Kharkov) and Lviv (Lvov). Thus, according to Stack Overflow, there are around 68,500 software developers in Kyiv.

The N-iX 56-page report offers several informative sections to gain valuable insight into the Ukraine IT Industry. They include detailed country and industry overviews with profiles of major IT city centers as well as a section on Ukrainian tech companies. This section features notable startups and information about IT service companies.  

N-iX’s report cites Ukraine Digital News for its outline of the market segments served including Data Management, Telecom, Cloud Computing, E-Commerce, Finance, Retail and Cyber Security.   

The study should be useful to prospective investors and companies that are interested in establishing R&D centers in Ukraine, or looking for potential development partners to grow their products.   

Founded in 2002 with offices in Kyiv and Lviv, N-iX has more than 900 employees.  The company was included in the 2018 Inc. 5000 list of the fastest-growing private companies in Europe. In 2019, N-iX was listed for a third year in the Global Outsourcing 100 published by IAOP.  The Global Outsourcing 100 list is published annually by IAOP and features the world’s top outsourcing providers.

Earlier this year, two other reports highlighted Ukraine’s growing IT outsourcing sector and software export capacities.

Topics: Data & reports, International, IT services
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