IT Sector in Armenia

By 2004, the number of IT companies in Armenia reached 140, employing some 4,000 persons.
The major specializations in Armenian IT sector include embedded systems and semiconductor design and testing, multimedia design, industrial automation, Internet applications, custom software development, accounting and financial applications, multimedia designing, web-designing and development and Internet applications. Many companies are involved in the development of management information system (MIS) accounting, industrial automaton solutions, security and encryption, educational software development, artificial intelligence, computer aided design (CAD) and system integration.



Graph 1.1:IT Services Sector Potential,McKinsey &Company 2006
Intense business pressure has developed due to steady economic growth, a competitive environment, and a demand for higher productivity and a need for real-time information. Many seek IT solutions to address these demands.
Business and not-for-profit organizations are doing increasingly larger investments into software and IT solutions. The products with the largest demand by local companies are:
1. Enterprise resource planning system
2. Financial, accounting, payroll, sales, logistics, warehouse and analysis applications
3. Public administration systems
4. Banking applications
5. E-commerce / web development services.