Market Insights Technology Cybersecurity Security Services

Professional Services - Guinea

Guinea

The Professional Services market in Guinea is expected to witness a substantial growth in revenue, with projections indicating that it will reach US$6.80m by 2024.
Furthermore, the market is anticipated to display a compound annual growth rate (CAGR 2024-2029) of 7.74%, resulting in a market volume of US$9.87m by 2029.
Notably, the average Spend per Employee in the Professional Services market sector is projected to reach US$1.53 in 2024.
It is worth mentioning that in terms of global comparison, United States is expected to generate the highest revenue in the Professional Services market, reaching US$34,430.0m in 2024.
The demand for professional services in Guinea has been steadily increasing, driven by the country's economic growth and the need for expertise in various sectors.

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.