Publish date: 21 January, 2025We sent off the year with a dose of relief. Despite inflation, squeezed corporate budgets and geopolitical crises, the IT labour market in our country remained relatively stable. There was no shortage of scenarios of layoffs and the mass penetration of artificial intelligence.
But the industry continues to grow. According to the latest report from the Bulgarian Association of Software Companies (BASCOM), growth of 12.4% is expected for 2024, and artificial intelligence (AI) is increasingly being integrated into the workplace to help, not at the expense of, employees.
More or less compared to a year earlier?
H512.com’s Job Board looks at the sector’s growth. In 2024, 20 new companies opened offices in the country* – five fewer than in 2023. Most of them chose the capital, while Plovdiv and Varna welcomed Austria’s Invitario and Germany’s Buchhorn Parcel Service.
Bulgaria’s Kosmo Labs, on the other hand, offers entirely remote working and has no plans to open an office in the City under the Hills, where it is registered.
60% of the companies opening offices in the country in 2024 are of foreign origin, with US and German investors leading the way. The remaining IT employers come from Austria, Belgium, the UK, Canada, the Isle of Man and the Czech Republic.
The majority are micro companies, while small firms account for 10%. Only two are medium or large, Omnissa and Kuady, and at H512.com we size companies according to the number of employees in their IT departments.
The new players
Among the new companies described above, nine were founded in 2024 – six domestic and three foreign. They mostly fall into the “micro” category with teams of less than 10 IT employees. The exception is the American Omnissa, which already has 50 technology experts in Bulgaria.
The change in the activities of the new companies is also interesting. While in 2023 mixed-activity firms dominated, now pure product firms lead the way. They are followed by companies that combine product development with software systems implementation. One of them focuses on a combination of all activities.
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New career opportunities
While the number of companies opening offices in 2024 is relatively small, the total number of IT employers joining H512.com’s Job Board during the year reached an impressive 144.
Among them, Bulgarian organisations dominate, and of the international companies, the largest number are American, followed by those from Germany, the UK and Switzerland. In terms of activity, pure product companies again led the way.
At the moment, new employers on the platform have dozens of active offers for IT specialists, with the companies with the largest number of vacancies being American Customertimes and Green Street.
Despite all the external and internal turmoil, the stability of the IT market in Bulgaria, combined with the emergence of new companies, creates an optimistic outlook for 2025 and promises new opportunities for IT professionals. So whether you’re a seasoned professional or just starting your career, keep an eye on H512.com’s Job Board, which will continue to connect you with the future of the industry.
*Data on new companies that have opened offices in our country includes businesses that have created a profile on our Job Board.
