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. 

 

Pay-Per-Click or PPC, is a type of digital advertising where the advertiser pays each time a user clicks on their ads. The most popular channels for PPC advertising are search engines.

The advertisers usually bid (set up a maximum price per click) on a specific list of keywords and their ads appear on top of organic search results, labeled as “Sponsored” or “Ad”. Users search for these keywords, click on advertisers’ ads and land on their websites.

PPC is a fast way to generate traffic and eventually leads/sales to your business if done right. It implies advanced knowledge of PPC ad platforms like Google Ads, Microsoft Ads, Amazon Ads, LinkedIn Ads and many more.

According to the comprehensive survey on online marketing channels conducted by TechBehemoths, about 33% of IT companies don’t use PPC to advertise their businesses. This might be a lost opportunity to generate leads at a reasonable price (depending on the industry, market, competition, etc.).

PPC can help grow your business in multiple ways. Here are some advantages:

• Relatively easy to setup and launch
• Instant traffic
• Brand awareness
• Fast results (leads, sales)
• Cost effective (depends on multiple factors)
• Advanced targeting
• Can be tracked very accurately
• Precise control over your budget

Finding the best PPC agency for your business needs can be a challenging task. That’s why, we recommend you to define your goals in advance and keep in mind the following criteria when choosing a company to work with:

• Experience - do they have experience in your market, language, etc.?)
• Portfolio - browse their portfolio and ask for more info
• Price - what’s their pricing model - % of ad spend, flat free, management fee, other?
• Turnover time - PPC analytics and data is usually available within a few hours/days
• Communication and reporting - what’s the preferred communication channel and what reports are provided

There are more than 9,880 companies providing PPC services listed on TechBehemoths. Use the advanced filter to choose the ones that fit your project requirements. Get in touch with the agencies and collaborate with them at no extra cost.