SAP reported strong sales growth in the third quarter of 2007 in Russia and CIS, only yielding to the revenues in USA and Germany. According to SAP CIS Executive Director, Boris Volpe, more than half of the sales were done in Russia thus confirming the ever growing interest of technology vendors to the Russian market.
The Russian IT market has been growing at about 20% rate for the last few years whereas US and European market only show about 4% growth rate. The analysts from IDC projected that the IT services spending in Russia will increase at a CAGR of 21.3% over the five-year period, reaching $7,8 million in 2011.
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