Sectorial Brochure IT Sector of Armenia/ BA - Page 3

SECTOR OVERVIEW 2014 2017 More than LABOR FORCE 121% EXPORT GROWTH 15.000 professionals 2014 2017 32.6% DOMESTIC MARKET GROWTH £ Main products and services: embedded software development, semiconductor design, customized software, outsourcing, financial software, multimedia, web design, information systems, system integration £ There were 650 companies in the Armenian Information & Communications Technology (ICT) sector in 2017. 21.6% of the companies specialized in customized software and outsourcing, while 13.7% in web design and development Number of companies by area of specialization, % of total Innovative Technologies industry Industry total % Local companies % Foreign branches % Customized so ware and outsourcing 21.6 17.8 3.8 Web design and development 13.7 11.8 1.9 IT services and consul ng 10.7 8.7 1.9 Mobile applica on development 9.8 7.7 2.2 System design and automa za on 9 7.7 1.4 Internet service providers 8 2 6 Databases and MIS 7.7 6 1.6 Internet applica ons and e-commerce 7.4 7.1 0.3 Accoun ng, banking, and financial so ware 5.2 3.8 1.4 Computer graphics, mul media, and games 3.3 3 0.3 Networking systems and communica ons 3.3 3 0.3 Chip design, tes ng, and related sectors 2.5 1.4 1.1 Other 6 5.5 0.5 Source: Enterprise Incubator Foundation 2017 2