Study of the development of the ukrainian it market under conditions of uncertainty

Abstract

The article considers the development of the Ukrainian IT market in the face of uncertainty and formulates a general strategy for its growth in the context of state support and creation of favorable conditions for IT business.  The development of the IT sphere in Ukraine is one of the most promising areas of the economy, since since the beginning of the full-scale invasion it has been showing growth, accompanied by an increase in the volume of exports of IT services and growth of the domestic market. It is determined that the IT market of Ukraine is the driving force of the economy, which stimulates business development and attracts foreign investment in Ukraine. To begin with, the general state of the Ukrainian IT market was studied by analyzing the number of companies, employees, and sales revenue. It was found that in 2023, compared to 2022, there was a slight decline in the development of the IT market, which was caused by a decrease in the number of orders from foreign customers due to the ongoing war and growing risks. It is proved that the export of computer services is the main direction of the Ukrainian IT market, which needs to be developed and supported by the country. Analyzing the structure of exports, it was determined that the largest exporters of Ukrainian IT services are the United States, Malta, and the United Kingdom. The next part of the study analyzes Ukrainian IT companies and determines that Epam Systems LLC and Globaldigital Ukraine LLC are the main companies in the market, whose indicators show general trends. It is determined that both companies have deteriorating financial performance, which was caused by a decrease in the volume of orders from foreign customers. As a result, it is proposed to combine the internal strategy of IT companies with the overall strategy of development of the Ukrainian IT market, because first of all, companies need to adapt their internal processes to changing environments and, with the support of the state, develop the Ukrainian IT business.