Ranking TAdviser100: The largest IT companies in Russia 2024

Analytical center TAdviser has prepared a new ranking of the 100 largest companies operating in the Russian IT market, as well as an additional list of 100 applicants who may enter the top 100 in the near future. In addition, analysts presented their own assessment of the volume of this market and the dynamics of income of certain categories of companies.

Analytical center TAdviser has prepared a new ranking of the largest IT companies in Russia at the end of 2023. It included 100 market leaders, as well as an additional list of 100 applicants who could be in the top 100 in the near future.

The ranking includes Russian system integrators, IT distributors, software and hardware developers, IT insourcers of large domestic companies, as well as representatives of foreign IT companies operating in Russia.

The total revenue of the ranking participants at the end of 2023 exceeded 3 trillion rubles. The entry threshold, i.e. the revenue of the company that took the last place in the top 100, amounted to 6.59 billion rubles (for comparison, a year earlier this figure was 4.77 billion rubles). Compared to the previous ranking, the total income of TAdviser100 participants increased markedly - by 15.7%.

The leader of the new ranking was again the Rostec Electronic Comlex. Its revenue increased by 30.3% and reached 424.8 billion rubles. Holding T1 rose to the second line (222.9 billion rubles, + 33.7%), Fplus took third place (215.3 billion rubles, -9.2%). The fourth position was taken by MTS (174.7 billion rubles, + 38.9%), the fifth line was taken by ICS Holding (165.2 billion rubles, + 47.4%).

The share of the five largest companies in the ranking of TAdviser100 for the first time in the last few years has again moved to growth. So, in the ranking of 2020, the top 5 accounted for half of the total revenue of all participants. In 2021, it amounted to 39%, in 2022 - 37.7%, in 2023 - 36.9%. In the new ranking, the top 5 companies accounted for 38.7% of the total revenue of all TAdviser100 participants.

2023 was also notable for the final departure of large foreign companies from Russia. So, the Russian representative offices of HP Inc., Dell, Intel, Cisco, Deutsche Telekom IT Solutions for 2023 recorded zero revenue. The income of representatives of some other major foreign players also tends to zero: Russian revenue of Nokia Networks decreased by 98.5%, Microsoft - by 96.9%, IBM - by 97.5%, SAP - by 89.9%, HPE - by 85.7%.

It should be noted that some foreign companies continue to operate in our country, and quite successfully. For example, the total revenue of Russian representative offices of Amdocs increased by 9% in 2023 to 6.4 billion rubles. The revenues of the Samsung Research Center amounted to 3.1 billion rubles. (+ 1.6%). Representative offices of some Chinese IT companies also feel good in the Russian market. For example, Hikvision increased Russian revenue by 17.4% to 12.7 billion rubles, and TP-Link grew by 38.2% to 10.3 billion rubles.

The fastest growing participants in the ranking of TAdviser100 were the Russian companies Intelligent Technologies (+ 790.6%), NVBS (+ 382.7%), Biforkom Tek (+ 305.9%), Digital Technologies and Platforms (+ 277.1%) and Free Engineering Technologies (+ 260.6%). The 10 fastest growing ranking companies are featured in the infographic below.

According to TAdviser, the Russian IT market at the end of 2023 showed good positive dynamics. The market volume reached 2.8 trillion rubles, which is 33.3% higher than last year. Growth was noticeably higher than expected. The final departure of many foreign companies as a whole did not greatly affect the financial side of the market.

Russian IT companies continued to grow. At the same time, the largest dynamics of revenue (among TAdviser100 participants) is noted among developers of software and hardware products, information security companies, as well as insourcers of large domestic enterprises. The average growth of companies in these categories is at the level of 40%. The growth of integrator companies is slightly lower, averaging about 25%. If we compare the total revenue of distributors by year, then it also shows positive dynamics. However, on average, it is less than the dynamics of companies from other areas, which were discussed above. At the same time, individual distributors break out of the general trend and demonstrate revenue growth significantly higher than competitors.

The positive dynamics of the development of the Russian IT market at the end of 2023 is associated with a number of factors: domestic products are becoming more functional and reliable, system integrators have mastered the changed market landscape and form their service portfolios based on tested and compatible import-independent solutions. Integrated hardware and software complexes are being built to solve complex customer problems. The number of experts with experience in the implementation and development of domestic IT products and platforms is growing. At the same time, not all companies, corporations and government agencies can boast of a large-scale import substitution in IT. And this means that the potential for the development of the domestic market is very far from exhaustion, - said the editor-in-chief of TAdviser Alexander Levashov.