Hungary is an open economy where particular emphasis is placed on encouraging foreign direct investments. Partnership with potential investors is a national priority, special attention is paid to the needs of already existing companies, and to the further development of the business climate. 

Starting with 2010, Hungary has put a lot of effort into developing the IT sector. Some of the best steps in this direction are: 

• Tax modifications and incentive system related to R&D activities

• Strategic partnership for local IT companies, as well as government projects 

• A dual education system based on the tech industry’s needs

• Adjusted the economical climate to the latest requirements of Industry 4.0

In Hungary, the added value generated by the IT sector was 5,18 billion Euros in 2019, and compared with 2017 and 2018, grew by 5% and respectively 7%, which confirms the steady ground the national IT industry stands on. Additionally, Hungarian IT companies have access to the vast EU digital market, which allows them to export services across Europe. 

The most popular IT services provided by Hungarian companies are Software development, Software engineering, and Cyber Security. However, in the last several years’ local companies focused also on app development and knew an increasing number of projects in the AR and VR branches. 

Why you should work with Hungarian IT companies

Even though the digital market is dominated by foreign IT companies ( 66% ), there are also local companies that are striving in providing cutting-edge technology services, which may compete in some places with US, German, and UK companies. For central Europe, this represents a big step ahead and provides cheaper alternatives to the same services for potential customers. 

In 2019, the value of Hungarian exported IT services reached 1.95 billion euros or 8.2% of the entire export value of the country. The numbers are expected to grow significantly due to foreign direct investments in the sector, which also grew by 19% in 2019-2020 Q1.

What you should pay attention to when working with Hungarian IT companies

Hungarian IT companies are not the best-known on the international market, so far. However their increased potential lately may lead to a market boom in the central European market, and many potential customers could turn their attention to this progressive alternative. But the main challenge the companies will possibly face is a lack of experience in working with big projects. In its turn, the lack of experience can lead to poor project management, late project delivery, or even poorly executed projects. 

How reliable are Hungarian IT companies

Hungarian IT companies don’t have a reputation for providing services in IT, which can turn both as an advantage and disadvantage for the companies. Depending on how well local IT companies will start performing on a larger scale, the reliability of companies will be appreciated. 

How does the Hungarian IT sector relate to the neighboring countries

The V4 countries are working together in many areas including in the IT sector. Companies from these countries benefit from facilities and eased access on national markets, but, they also compete. 

In these regards, Hungary is the 2nd growing country in the IT sector in the group of 4, straight after Poland, which already took the lead with an advantage of 35%. 

Outside the V4 group, Romania and Ukraine are also countries that are direct competitors with the Hungarian IT sector. It is still uncertain whether Hungary, Ukraine, Poland, or Romania will become the largest central-European hub in the EU, and generally, in Europe. 

 

Digital strategy is a comprehensive plan that guides businesses in leveraging digital technologies and platforms to achieve their goals. It involves determining how to effectively use online channels to reach target audiences, enhance brand visibility, and drive growth. 

Services related to digital strategy encompass a wide range of activities, including content marketing, social media marketing, email marketing, and online advertising, aimed at achieving business goals through effective online presence and engagement.

In the digital age, businesses need a variety of strategies and tactics to succeed, which is collectively known as digital strategy. It includes defining the target audience, selecting the right digital platforms, creating engaging content, and measuring performance to ensure objectives are met. Services related to Digital Strategy range from content marketing and social media strategy to email marketing and online advertising.

Companies providing Digital Strategy services use a variety of tools and technologies. These may include analytics platforms like Google Analytics to measure website performance, social media management tools like Hootsuite for scheduling and monitoring posts, and marketing automation software like HubSpot for managing email campaigns and lead nurturing.

If a company is looking for help with their digital strategy, they can choose to partner with specialized IT companies or digital agencies. Specialized IT companies provide extensive knowledge and experience in creating successful digital plans while digital agencies, on the other hand, may provide a broader suite of digital services, making them suitable for businesses seeking comprehensive digital solutions.

When businesses make use of Digital Strategy services, they can gain many advantages in the digital world. A carefully planned strategy helps businesses to target the right audience effectively, resulting in higher engagement and more conversions. It also provides a clear roadmap for online activities, allowing businesses to allocate resources more efficiently. Additionally, a solid digital strategy keeps businesses adaptable, enabling them to respond effectively to changing market trends.

Selecting the right digital strategy service provider is crucial for achieving optimal results. Look for providers with proven expertise in designing effective digital strategies tailored to your industry and audience. Communication and a collaborative approach are key, so choose a provider that understands your goals and can effectively execute your vision.