Market environment

Key drivers of growth on the IT market

  Banking and finance
  • Increased demand for advanced technologies used in financial services,
  • New trends in the area of IT solutions dedicated to financial institutions,
  • Development of omni-channel solutions,
  • Dynamically changing legal environment requiring constant adaptation of IT systems,
  • The growing importance of cyber security.
  General business
  • Companies' growing IT needs along with the development of the scale of operations - higher demand for ERP solutions,
  • Demand for advanced solutions with the assumption of cost optimization - development of cloud and SaaS solutions,
  • The need to manage a huge amount of data,
  • Legal changes resulting in the need of IT systems adaptation.
  Public sector
  • The sector remains one of the largest recipients of IT services,
  • Demand for advanced solutions, where security, reliability of systems and their supplier play a very important role,
  • High demand for IT solutions in the areas of social insurance, central and local government administration, health care or uniformed services.

Development prospects of the IT market

According to Gartner's January forecasts, global IT spending will grow by 6.2% in 2021 to reach USD 3.9 trillion. All the market segments should record growth, with the highest increases expected in the case of enterprise software – by 8.8% and IT hardware - by 8.0%. For the data centre, IT services and telecommunications services segments, the projected increases are 6.2%, 6.0% and 4.5%, respectively.

Additionally, Gartner analysts point out that in order to survive in the post-COVID reality, companies will have to accelerate their digital transformation plans by at least 5 years. Experts forecast that global IT spending related to remote working will reach USD 332.9 billion in 2021, up by 4.9% versus 2020. 

In 2022, global IT spending is expected to increase by 4.6% to USD 4.1 trillion. The highest growth should be recorded in enterprise software – by 10.2%. The second highest growth – by 6.3% – is expected in the case of IT services.

IT spending (in billions of USD) 2020 Change y/y
2021 (forecast) Change y/y 2022 (forecast) Change y/y
Data center systems 215 0.0% 228 6.2% 236 3.4%
Enterprise software 465 -2.4%  506  8.8%  557  10.2%
Devices 653 -8.2%  705  8.0%  714  1.3%
IT services 1 012 -2.7%  1 073  6.0%  1 140  6.3%
Communications services 1 350 -1.7%  1 411  4.5%  1 457  3.3%
Total 3 695 -3.2%  3 923  6.2%  4 105  4.6%

Source: Gartner

Asseco's market position

Asseco's market positionAsseco is the sixth-largest producer of software in Europe and the largest supplier of modern IT solutions in Central Eastern Europe.

In the sector report on the Polish IT market Computerworld TOP200 (2020 edition)[1]. Asseco Poland ranked 1st in 7 categories. The Asseco Group, with revenues exceeding PLN 10 billion in 2019, was ranked 1st among the largest capital groups for another consecutive year. In addition, Asseco maintained the 1st position in the list of companies with the highest net profit. It is also once again the largest provider of IT solutions and services for the public administration and uniformed services, healthcare, and large companies and corporations. It also maintained its position of the largest provider of maintenance services. Asseco also took the first place in the category of companies with largest expenditures for R&D. Owing to its continuing development and search for innovative solutions, Asseco not only maintained its last year's position in the category of largest providers of custom software, but also moved up in the ranking of companies providing solutions and services for the banking sector and among providers of CRM systems.

It is worth noting that in the same ranking the Asseco Group’s company, Asseco Business Solutions, retained its first position in the category of largest providers of Enterprise Resource Planning (ERP) systems.

Asseco also became the leader in 6 categories of the ITwiz BEST100[2] ranking, which is the list of the largest IT companies in Poland. For yet another year running, the Company ranked first in the categories of companies with the highest net profit, sales of maintenance services and sales to the public administration and uniformed services, healthcare sector, and large enterprises. Furthermore, the Asseco Group generated the highest revenues in the IT sector.

Asseco Business Solutions, a subsidiary of the Asseco Group, ranked 1st in the ITwiz BEST100 ranking of companies with the highest sales of ERP systems. In turn, Asseco Data Systems reached the 2nd position in the ranking of companies with the highest revenues from training courses in Poland. Furthermore, Asseco Data Systems rose to the 4th position in the category of top sellers of education and R&D systems. It also remains in the lead of IT suppliers for public administration, uniformed services and commerce. Very good results were also achieved in the sales of maintenance services and application implementation.

It is also worth mentioning that another company from the Group, Asseco Central Europe, won in three categories of this year's Information Technology Trend TOP [3] ranking prepared by the Slovak economic weekly Trend. The company maintained its leading position in the following categories: IT services provider, the largest IT provider to the private financial sector, and the provider of IT products and services in terms of added value. The ranking is the equivalent of the Polish Computerworld TOP200 report. The company's results show its strong position on the Slovak market.

The Group's value creation is based on two pillars: the development of proprietary software and services and increasing the scale of operations through acquisitions.

The Group's business model is based on creating value by providing proprietary software and IT services to business and public administration clients based on the Group companies' best practices. The revenues from proprietary software and services account for 79% of the Group's total sales.

[1] Computerworld TOP200, Ranking of IT and Telecommunications Companies, Edition 2020, ranking by sales generated for 2020.

[2] ITwiz BEST100, 2020 Edition, ranking by sales generated for 2019.

[3] Information Technology Trend TOP, 2020 Edition, ranking by sales generated for 2019.