Russian IT industry will cool in 2025 following rapid growth - digital development minister

MOSCOW. Dec 18 (Interfax) - The overheating of the Russian IT industry will lead to a cooling in 2025 following its rapid growth in recent years, including a revision of companies' investment plans, Digital Development Minister Maksut Shadayev said.

The number of employees in the IT sector increased by 100,000 in 9M 2024, reaching 850,000 people, while the average salary rose by 30,000 rubles to 155,000 rubles, he said. The volume of products sold by IT companies in the first half of the year grew 60% year-on-year, he said.

"This year, the IT industry is showing an even faster growth rate than in previous years. In this sense, I see some degree of overheating. Such obvious overheating will probably lead to some cooling next year, as we are already seeing. There will also be a certain revision, including of investment plans [by IT companies]," Shadayev said at a meeting of the Public Council of the Digital Development Ministry.

"We believe that maintaining such growth rates is very difficult. Salaries shouldn't rise so quickly," he said.

All major IT companies will adjust their investment plans, taking into account the real economic situation and the overheating of the salary market, Shadayev said when speaking to journalists.

"There is a shortage [of IT specialists], which is driving salary growth. However, it's clear that companies that hired a lot of people to rapidly develop new products will now definitely reassess their plans and expenses," he said.