Market Insights Technology Cybersecurity Security Services

Managed Services - Bangladesh

Bangladesh

The Managed Services market in Bangladesh is expected to experience significant growth in the coming years.
According to projections, the market's revenue is set to reach US$22.85m by 2024.
This indicates a positive trend for the industry, with an estimated annual growth rate (CAGR 2024-2029) of 8.50%.
It is predicted that by 2029, the market volume will reach US$34.36m.
Furthermore, when considering the average Spend per Employee in the Managed Services market, it is projected to be US$0.29 in 2024.
This metric provides insight into the level of investment made by businesses in this sector per employee.
In terms of global comparison, United States is expected to generate the highest revenue in the Managed Services market.
Projections indicate that United States will generate a staggering US$10,260.0m in 2024.
This highlights the country's dominance in this market segment.
Overall, the Managed Services market in Bangladesh is poised for growth, with positive revenue projections and a significant presence in the global market.
"Bangladesh's Managed Services market is witnessing a surge in demand, driven by the country's growing focus on digital transformation and the need for efficient IT solutions."

Key regions: India, Germany, Canada, Europe, Belgium

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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.