IT industry development: figures and trends

The IT industry is strengthening its position as one of the fastest growing economic sectors. Salaries here are higher than the average for the economy, and companies are investing more and more in their development. This is evidenced by data for the first three quarters of 2024 from a new study by the Higher School of Economics of the Russian Federation.

Growth in sales of goods and services

IT companies sold RUB 2.72 trillion worth of their own goods and services in the first three quarters of 2024. This is a significant 56.9% increase compared to the same period of 2023.

Sales of goods and services grew in the largest segments of the industry:

Software development - up 59.5%

Data processing - up 50.2%

More employees and higher salaries

The number of people employed in IT continued to grow and exceeded 990 thousand people in the first 9 months of 2024. At the same time, the average monthly salary in the industry in the third quarter of 2024 was more than 176 thousand rubles. This is 24.4% higher compared to the same period of 2023.

Investment growth

The volume of investments in the IT industry for the first 9 months of 2024 increased by 62%, reaching RUB 429.4 billion.

Investments in the following segments grew the strongest:

Data Processing - by 62.1 per cent

Software development - by 60.6%

Source: https://digital.gov.ru/ru/events/54733/