Boston, MA -- (ReleaseWire) -- 02/17/2014 -- The Slovenian IT market has underperformed many of its regional peers since 2012 and the onset of recession and fiscal austerity, and we expect it will continue to exhibit slow growth in 2014. However, as the economic environment strengthens through 2014 and confidence returns there will be opportunities for vendors. While the market has had a challenging few years, the fundamentals of rising incomes over the medium term, alongside continued modernisation of enterprises and public administration mean we expect a CAGR of 3.3% between 2014 and 2018. Enterprise spending growth will be the strongest area of the market, especially newer technologies such as cloud computing, but we also highlight opportunities in the retail market. Tablet penetration is low, at just 13.8% in 2013, indicating significant growth potential remains in the market.
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Headline Expenditure Projections
Computer Hardware Sales: EUR362mn in 2013 to EUR365mn in 2014, an increase of 0.8% in local currency terms. We expect the hardware market to return to growth after contracting in 2013, with the strongest growth in low cost Android tablets.
Software Sales: EUR164mn in 2013 to EUR169mn in 2014, an increase of 3.2% in local currency. Large enterprises still account for about half of the spending on enterprise application solutions (EAS) in Slovenia, but we expect SME spending on software will grow rapidly through government promoted modernisation initiatives.
IT Services Sales: EUR221mn in 2013 to EUR235mn in 2014, an increase of 6.2% in local currency terms. The IT services market will outperform in 2014, based on the demand for cost cutting products such as cloud computing and outsourcing.
Key Trends & Developments
- The hardware market in Slovenia was hit hard by the recession in 2012 and 2013, and while conditions remain challenging for vendors in 2014, BMI expects the hardware market will return to growth. Deferred purchases from previous years, particularly from enterprises, will boost demand, but the greater opportunity is in the retail market. The latest data show household tablet penetration of just 13.8% in 2013, up from 8.4% in 2012. We highlight the declining price of tablets, particularly from East Asian OEMs producing devices running Android, the heightened price sensitivity of consumers following recession, and low device penetration, as the basis for strong growth in 2014 and 2015 as confidence returns.
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