Brief Overview of the IT industry in Ukraine

The development of the IT industry in Ukraine, which is mostly represented by outsourcing service, is far ahead of the average pace of development of the segment in the world. In addition to its immediate economic impact, the relatively young industry in our country has become an important element in creating a modern image of the country.

More than 100 representatives of Fortune 500 list of the most successful companies are loyal customers and business partners of Ukrainian IT business.

Moreover, a leading international organization, the Global Sourcing Association, has named Ukraine as the UK’s best provider of IT services. Also, the well-known American business magazine Inc. includes Ukrainian companies in the list of companies with the most dynamic development.

According to PwC analysis, Ukrainian IT industry has been recently increased by 2.5 times. In 2011-2015, it increased by 150%, and it’s predicted to reach $5.7 billion by 2020.

Ukrainian IT Market in Numbers
  •  166,000 developers
  •  Approximately 12,000 IT companies
  • $1,256 billion industry value
  • Market focus: USA and Europe
  • $34-64/hour average rate for software development
  • $25-149/hour average rate for app development
  • 42% speak English fluently

Furthermore, StackOverflow has already counted the developers and found out that there are 166k software developers in Ukraine. Obviously, it is 35% of the Central and Eastern Europe pool. Around half of the Ukrainian developers are currently employees in software development outsourcing. This means the vast majority of Ukrainian software development companies are exporting IT services.

Actually, Ukraine creates a favourable environment for outsourcing providing a wide range of software development services at a decent price. Of course, it is difficult to find the right partner for business, but we, at Talendeed can help you to make the right decision. Don’t hesitate, feel free to drop us a line, we will be very happy to help you!

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