Free Submission Public Relations &
Deutsch English

Computer & Technology

"Hungary Information Technology Report Q1 2014" Published

Print article Print article
2013-12-10 12:40:28 - New Computer Technology research report from Business Monitor International is now available from Fast Market Research

Economic weakness continues to be a drag on the development of Hungary's IT market, although growth has remained positive, due to strong technology-driven trends. The IT market was hit by contractions in real GDP and private final consumption in 2012 and 2013, undermining confidence levels and resulting in deferred spending by households and enterprises. There are many positives for the development of the market that have kept it growing despite economic weakness. The dispersal of EU funds for projects and Hungarian IT firms, the modernisation by Hungarian enterprises as they face the pressures of international competition and demand for tablets are all areas of rapid growth. As the economy strengthens over the medium term, these trends will be supplemented by

deferred investments which we expect to include hardware deployments, complex on-premises systems and cloud computing services.
Headline Expenditure Projections

Full Report Details at
- ..

Computer Hardware Sales: HUF258.6bn in 2012 to HUF266.1bn in 2013, an increase of 2.9% in local currency terms. Weak consumer sentiment has been a drag on sales growth; however, the market has medium-term growth potential due to Hungary's relatively low PC penetration rate compared to many of its regional peers.

Software Sales: HUF157.7bn in 2012 to HUF166.9bn in 2013, an increase of 5.8% in local currency terms. The on-premises market has been squeezed by economic conditions, with enterprises hesitant about large investments, but this has been partially offset by demand for cloud and security software.

IT Services Sales: HUF214.4bn in 2012 to HUF230.6bn in 2013, an increase of 7.9% in local currency terms. Cloud computing services are the fastest area of growth, with uptake by enterprises and the public sector gathering momentum.

Key Trends And Developments

The Hungarian IT market has been impacted by the eurozone crisis more than most in the region, with the domestic political and economic environment dampening spending and investment. One area that has been hit hard is the retail market for notebooks and desktops. There were declines across Central and Eastern Europe in late 2012 and 2013, with Hungary no exception as price-sensitive consumers shifted consumption to low-cost Android tablets. Previously, the price of tablets limited sales to mass market Hungarian consumers but, with low-cost devices becoming available at the same time as households remain under pressure, the market boomed in recent years.

Although the Hungarian IT market development has been stymied by economic weakness, in recent years several innovative domestic IT companies have expanded rapidly. One example is NEXON, the leading HR software provider in the domestic market. It is in the process of expanding across Europe, driving revenue growth. While NEXON is well established by 2013, there is also a vibrant start-up scene in Hungary, centred on Budapest. The leading of the new generation of Hungarian IT enterprises is Prezi, a provider of presentation software using a SaaS freemium business model to challenge the dominance of Microsoft's PowerPoint. Prezi is expanding rapidly, reporting in July 2013 that it had 26mn users from 190 countries who had used Prezi on desktops, browsers and Apple iPads/iPhones. NEXON and Prezi are included in BMI's new competitive landscape for international and local IT companies in Hungary.

Report Table of Contents:

BMI Industry View
- Wireline
- Political
- Economic
- Business Environment
Industry Forecast
- Table: Hungary IT Industry - Historical Data And Forecasts (HUFbn)
- Broadband
- Table: Internet - Historical Data & Forecasts, 2010-2017
Macroeconomic Forecasts
- Table: Hungary - Economic Activity
Industry Risk Reward Ratings
- Table: Europe IT Risk/Reward Ratings, Q1 2014
Market Overview
- Hardware
- Software
- Services
Industry Trends And Developments
Regulatory Development
Competitive Landscape
- International Companies
- Table: Lenovo
- Table: SAP
- Local Companies
- Table: NEXON
- Table: Prezi
- Company Profile
- Albacomp
Regional Overview
- Europe Overview
Demographic Forecast
- Table: Hungary's Population By Age Group, 1990-2020 ('000)
- Table: Hungary's Population By Age Group, 1990-2020 (% of total)
- Table: Hungary's Key Population Ratios, 1990-2020
- Table: Hungary's Rural And Urban Population, 1990-2020
- Industry Forecast Methodology
- Sources
- Risk Reward Rating Methodology
- Table: It Risk Reward Rating Indicators
- Table: Weighting Of Components

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Bill Thompson
Phone: 18008448156

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News


Terms & Conditions | Privacy | About us | Contact | BidVertiser