Market Insights Technology Cybersecurity Security Services

Managed Services - North Macedonia

North Macedonia

The Managed Services market in North Macedonia is expected to witness a significant growth in revenue, reaching a projected value of US$1.70m in 2024.
This growth is anticipated to continue with an annual growth rate of 4.12% (CAGR 2024-2029), resulting in a market volume of US$2.08m by 2029.
In terms of average Spend per Employee, the Managed Services market in North Macedonia is projected to reach US$1.80 in 2024.
This indicates the amount invested per employee in the market segment.
When compared globally, United States is expected to generate the highest revenue in the Managed Services market, reaching a staggering US$10,260.0m in 2024.
This highlights the dominance of the United States in this market segment.
North Macedonia is experiencing a growing demand for managed services, particularly in the IT sector, as businesses seek efficient and cost-effective solutions to streamline their operations.

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

Market

Region

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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.