IT Services - Angola

Angola

Revenue in the IT Services market is projected to reach US$868.00m in 2024.
Business Process Outsourcing dominates the market with a projected market volume of US$370.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.15%, resulting in a market volume of US$1,170.00m by 2029.
The average Spend per Employee in the IT Services market is projected to reach US$54.55 in 2024.
In global comparison, most revenue will be generated in the United States (US$522.00bn in 2024).

Key regions: United States, China, India, Japan, Germany

Definition:
The IT Services market encompasses a wide range of services used by organizations to create, manage, and deliver information, and it includes services that provide assistance with various other business functions. The primary goal of IT services is to ensure that information technology infrastructure, applications, and systems are effectively implemented, operated, and optimized to support an organization's business objectives and requirements. The specific range of services offered may vary depending on the service provider and the client's requirements.

Structure:

IT Services contains four distinct markets that are based on different services:

IT Consulting & Implementation covers advisory services that help businesses evaluate their technology strategies and align them with their business strategies or internal processes.
Business Process Outsourcing (BPO) refers to the transfer of entire business processes or individual activities from a company to a third party and is often IT based. BPO covers a wide variety of business processes, usually either in the back office (e.g., human resources) or in the front office (e.g., customer service in call centers).
IT Outsourcing refers to the external contracting of all IT-related services instead of relying on company-owned resources. In an IT context, these activities include IT administration, IT application, and web hosting services.
The Other IT Services market covers revenues for areas that are not specifically mentioned in the other markets, such as system integration, software installation and support, and IT education and training.

Additional Information:

The IT Services market comprises revenues, revenue change, average spend per employee, and a list of the key players in the market and their consolidated revenues. Market values represent revenues that are generated by primary vendors either directly or through distribution channels at the manufacturer price level (excluding VAT). Reported market revenues include spending by enterprises (B2B) and governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed. Key players in the market include IBM, Cognizant, Hewlett Packard Enterprise, and TCS.

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Market

Region

Region comparison

Currency

Analyst Opinion

Angola, located in Southern Africa, is one of the fastest-growing economies in the region. The IT services market in Angola is also growing with the increasing demand for digital transformation in various industries.

Customer preferences: Angolan customers are increasingly adopting digital technologies and services to improve their daily lives. With the growing use of smartphones and internet penetration, customers are becoming more tech-savvy and are looking for IT services that can help them with their daily activities. The demand for cloud-based services, cybersecurity, and data analytics is also increasing as companies are looking for ways to improve their operations and stay competitive in the market.

Trends in the market: The IT services market in Angola is witnessing significant growth due to the increasing demand for digital transformation in various industries. The demand for cloud-based services, cybersecurity, and data analytics is also increasing as companies are looking for ways to improve their operations and stay competitive in the market. The government is also investing in the development of IT infrastructure, which is expected to further boost the growth of the IT services market.

Local special circumstances: Angola is experiencing a digital revolution, which is driving the growth of the IT services market. The government has launched several initiatives to promote the development of the IT industry, including the National Program for Information Technology Development, which aims to promote the use of IT in various sectors of the economy. The government is also investing in the development of IT infrastructure, including the installation of fiber optic cables, which will improve internet connectivity and drive the growth of the IT services market.

Underlying macroeconomic factors: Angola is one of the fastest-growing economies in the region, with significant investments in various sectors of the economy, including the IT industry. The government is also implementing economic reforms to diversify the economy and reduce its dependence on oil exports. The country's young population is also driving the growth of the IT services market, with a growing demand for digital technologies and services. However, the country still faces challenges such as a lack of skilled IT professionals, which could hinder the growth of the IT services market in the long run.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us 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 relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

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