The market is on hold: Top IT companies saw a 3% drop in revenue over the past year
13 April 15:31
In 2025, Ukraine’s IT sector experienced its first noticeable slowdown: the combined revenue of the ten largest companies fell by 3%. At the same time, the market structure and market leaders remain stable, while some players are showing rapid revenue growth. This was reported by OpenDataBot, according to "Komersant Ukrainian".
What happened
According to OpenDataBot:
- the top 10 IT companies generated 54.67 billion UAH in revenue
- this is 3% less than in 2024
- the threshold for entry into the ranking remained virtually unchanged:
- 2.6 billion UAH → 2.69 billion UAH
This indicates that the market is not falling sharply but is in a phase of stagnation.
Who are the leaders
1. GlobalLogic Ukraine
- Revenue: -7%
- Profit: 15% (748 million UAH)
The company is optimizing costs and improving efficiency
2–3. EPAM Group
- EPAM Systems: revenue -10%
- EPAM Digital: revenue increased
Total:
- 19.46 billion UAH in revenue
- 36% of the total top-10 market
- profit decreased to UAH 1.78 billion
Other players
- Luxoft Solutions
- Revenue: -11%
- profit: -16%
- Kilobyte1024 (new to the ranking)
- Revenue: doubled to 4.41 billion UAH
- profit: 2.49 billion UAH (a record among the top 10)
This is one of the few examples of aggressive growth amid a general decline.
What does this mean
1. The market has stabilized but is not growing
A 3% decline is not a sign of crisis, but rather a plateau following years of rapid growth.
2. Market leaders are holding their ground
Despite the changing market conditions, the market structure remains virtually unchanged.
3. Profitability is more important than scale
Some companies:
- are losing revenue
- but increase profits through optimization
4. New players are emerging
The market is open to rapid growth—take “Kilobyte1024” as an example.
