[London – 19 June 2012] European ISVs have generally enjoyed a relatively good year and are proving resilient in the face of recessionary pressures. In 2011, the last full year for which accounts are available, revenues for the top 500 European ISVs increased by 13.16% to €81.35bn ($112.96bn). Overall, smaller independent ISVs – which make up the majority by far numerically, outperformed the major groups with growth of 17.36% (compared with 6.91% for parent companies and 5.6% for subsidiaries).These are amongst the findings from “ISVs in Europe – The Top 500”, the latest database report from IT Europa which is published today.

The database report, which provides detailed business profiles of each of the top 500 European ISVs, provides further evidence that is applications rather than hardware that is driving IT sales in Europe. Despite the difficult economic climate and slowing public spend on IT across the market, ISV revenues in 2011 continued to increase throughout Europe, with the exceptions of the national markets of Ireland (-3.02%) and Spain (-5.5%). Amongst the larger markets, Russia, France and the UK showed the strongest performance with average growth rates of 27%, 20% and 16% respectively.

IT Europa research manager Auri Aittokallio says: “Generally, ISVs are proving very resilient to market and economic pressures. However, there have been some substantial job cuts – especially in larger companies – and reports of more to come."

The “ISVs in Europe – The Top 500” database report spans 33 countries and represents the most detailed view available of this key market sector. It has been compiled from detailed interviews by IT Europa’s own research team. The company profiles include sales breakdowns by company activity, which markets a company operates in, and detailed information on staff numbers and development plans, along with contact details for the top executives of each company. The report is available from IT Europa (www.iteuropa.com) costing from £2,350. Data can also be extracted and supplied by country, region or on a bespoke basis.