Revenues of top informatics firms up 74 percent

ISTANBUL

The combined revenues of the top 500 Turkish informatics companies increased by 74 percent last year compared with 2021 to 372 billion Turkish Liras, according to a study by M2S.

Some 187 companies in M2S’s “Türkiye’s Top 500 Informatics Companies” list managed to boost revenues by more than 100 percent, while 89 companies made it to the list for the first time, business daily Dünya reported, citing preliminary data from the research.

The highest increase in revenue belonged to a software company with 501 percent.

Revenues of Türkiye-based software companies grew by 84 percent last year.

“On the U.S. dollar basis, revenues of the top 500 informatics companies amounted to $22 billion, growing by 10 percent compared with the previous year. But their revenues, on the dollar basis, fell by 41 percent from 10 years ago,” said Özlem Unan, the general manager at M2S.

In dollar terms, revenues of 165 companies in the list increased more than the average, she noted.

The research found that investments in artificial intelligence and the internet of things increased in 2022, according to Unan.

The results of the Top 500 informatics companies survey will be officially announced with a ceremony in Istanbul on Aug. 9.