Bulgaria ICT Market Share

Market Share of Bulgaria ICT Industry

The Bulgarian ICT market is moderately competitive due to the presence of significant players like Tata Consultancy Services (TCS), IBM, and Oracle Corporation. Players in the market are widely adopting strategies such as partnerships and product launches to enhance their overall product offerings and gain sustainable competitive advantage.

• February 2024: Evrotrust, a Bulgarian digital identity and trust services provider, recently secured a significant EUR 3.3 million investment. The funding was led by Silverline Capital, a private fund specializing in mezzanine and equity solutions for mid-market enterprises. This investment is assigned for Evrotrust's strategic expansion into new European markets, with a specific focus on broadening its reach into the retail and SMB sectors.

• December 2023: IKEA Bulgaria launched an Artificial Intelligence chatbot, "Sofia," leveraging Microsoft's advanced OpenAI GPT-4 technology. The initiative stems from IKEA's commitment to pioneering customer-centric solutions. By harnessing this advanced technology, IKEA aims to broaden its service offerings and enhance the overall shopping experience, ultimately saving customers valuable time.

Bulgaria ICT Market Leaders

1. Tata Consultancy Services (TCS)

2. The International Business Machines Corporation (IBM)

3. Hewlett-Packard (HP)

4. Honeywell International Inc

5. Oracle Corporation

*Disclaimer: Major Players sorted in no particular order