Market Insights Technology Cybersecurity Cyber Solutions

Other Solutions - Hong Kong

Hong Kong

The Other Solutions market in Hong Kong is expected to achieve a revenue of HKD US$156.00m by 2024.
This projection indicates that the market is poised for growth in the coming years.
Furthermore, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 9.06% from 2024 to 2029, resulting in a market volume of HKD US$240.70m by the end of 2029.
Additionally, it is noteworthy to mention that the average Spend per Employee in the Other Solutions market is projected to reach HKD US$41.83 in 2024.
This metric provides insights into the financial dynamics of the market and indicates the potential profitability for businesses operating within this segment.
In terms of global comparison, it is expected that United States will generate the highest revenue in the Other Solutions market, amounting to US$13,460.0m in 2024.
This highlights the dominant position of the United States in this market segment.
Hong Kong is experiencing a surge in demand for innovative solutions, as companies seek unique and efficient ways to address their business challenges.

Key regions: Saudi Arabia, Spain, Canada, Germany, Europe

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.