A RETROSPECTIVE ANALYSIS OF THE INFORMATION TECHNOLOGY MARKET OF UKRAINE

Abstract

In the modern world, the development of the information and technology market is gaining momentum. The IT sphere is closely and dynamically integrated in all sectors of the world economy, directly affecting the overall growth of economic and social indicators of enterprises and organizations. Understanding the importance of information technology for the formation of sustainable competitive positions of organizations, development of all activities, improving the quality of goods and services, etc., leads to a steady demand for these technologies. In this way, there is a mutual influence of the IT sphere and other economic sectors in the external environment and on a transnational scale. For Ukraine, the IT sphere is of particular importance because, against the background of the general economic and political crisis, it is able to smooth these phenomena through rapid development, as well as to ensure the functioning of many related industries. A relatively young industry for our country (practically equal to an independent Ukraine), in addition to the immediate economic effect, today it has become an important element of state-of-the-art image: more than 100 representatives of the most successful companies Fortune 500 is a loyal customer of the domestic IT business, a leading international Global Sourcing Association honors Ukraine as the Best Country-Member for IT Services in the UK, a reputable American business magazine Inc. includes Ukrainian companies in the most dynamic list. All this is a truly significant result that has been achieved through years of hard work. But what will the Ukrainian information technology industry face if we are take a look at up-to-date official government data and sensitive business information from market players? What is the real share of IT business in Ukrainian exports and how, directly and indirectly, does the industry affect the country’s economy?