Publish date: 13 November, 2023The autumn of 2023 came with serious changes in public life and a reckoning of the dynamics of the IT industry in Bulgaria, which we at H512.com are following closely. We share 5 eloquent charts that illustrate the key data in the sector. We analyse data from our Job Board as of 31.10.2023, where over 1300 companies have their career profile.
Bulgarian or foreign companies dominate the IT sector?
In our Job Board, we define Bulgarian companies as those headquartered in Bulgaria and foreign companies as those headquartered abroad.
According to data as of 31.10.2023, Bulgarian companies convincingly lead with almost 60% of the domestic IT sector.
Which cities are the most popular IT destinations in the country?
In the chart we observe the percentage distribution of the number of branches of IT companies in our country by cities.
The same company with open offices in several cities, participates in the graph for each of the cities in which it is present.
Not surprisingly, the largest number of opened offices is in Sofia – almost 64% of the total number of branches of IT companies in the country. Varna gives a very strong claim for the second place – lagging behind Plovdiv by only 6 percentage points. Lovers of our maritime capital can get a detailed insight into the IT situation in the city from our material on the topic here or find out what is happening in Plovdiv here.
Burgas, Ruse and Veliko Tarnovo are also enjoying interest in opening new offices from IT companies in the country. In the “Other” segment, a smaller number of company branches are present in cities such as Pleven, Gabrovo, Blagoevgrad, Pernik, Stara Zagora, Kazanlak, Troyan, Shumen, etc.
Size of IT companies in Bulgaria
Hybrid
Fully Remote
Micro and small companies lead the rankings with over 30% presence each at the expense of large and medium companies, which hover around 15% for each category. This ranking includes all companies from H512.com’s Job Board with IT departments, and this includes banks, telecoms, etc.
Main activity of IT companies in Bulgaria
In H512.com’s Job Board, companies are assigned to one, two or more of the following activities: product, service, software systems implementation and IT consulting.
This is the reason why the total number of companies in this chart significantly exceeds 1300 (the total number of participants in the sector analysis).
Of the 896 product companies listed, 69% are pure product companies and the remaining 31% have other activities. In the case of service companies (378 in number) – 26% are concentrated in this activity only, while the remaining 74% are active in more than one field.
61% of all participants in the chart for the main activity of IT companies, are focused in only one of the four areas. 39% of the companies are performing more than one activity and 12% are engaged in three of the mentioned areas. There are also companies that are active in each of the four activities and these account for 3% of all companies on H512.com’s Job Board over the period.
In how many companies are IT professionals in Bulgarian offices at least 50% of the team?
Having looked at the general information about the technology market in Bulgaria for the end of October, it is time to focus on IT departments.
In the teams of more than two thirds of the companies in the H512.com Job Board, IT professionals account for more than 50% of all employees, while in the remaining nearly 30% of companies, IT professionals represent a smaller part of the team – up to 50%.
The five graphs illustrate the state of the Bulgarian IT industry and represent aggregated data as of 31.10.2023. In the Job Board of H512.com you can get acquainted in detail with all the data for over 1300 companies and their open positions.
