Market Insights Technology Cybersecurity Security Services

Professional Services - Eastern Europe

Eastern Europe

The projected revenue in the Professional Services market in Eastern Europe is expected to reach US$1.56bn in 2024.
This indicates a significant growth potential for the region.
Moreover, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 3.58%, leading to a market volume of US$1.86bn by 2029.
This steady growth in revenue signifies the increasing demand for professional services in Eastern Europe.
Furthermore, it is worth noting that the average Spend per Employee in the Professional Services market is projected to reach US$13.21 in 2024.
This metric highlights the investment made by companies in the region to enhance their professional services capabilities and improve overall productivity.
In terms of global comparison, it is anticipated that United States will generate the highest revenue in the Professional Services market, reaching US$34,430.0m in 2024.
This showcases the dominance of the United States in this market segment and highlights the potential for Eastern Europe to tap into this market and increase its revenue in the coming years.
In Eastern Europe, the professional services market is experiencing a surge in demand due to the region's growing economy and increasing foreign investments.

Key regions: India, Chile, Spain, Saudi Arabia, Belgium

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.