IT Services - Australia & Oceania

  • Australia & Oceania
  • In 2024, the projected revenue in the IT Services market in Australia & Oceania is estimated to reach US$40.20bn.
  • IT Outsourcing dominates this market segment, with a projected market volume of US$15.14bn in 2024.
  • Looking ahead, the revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.92%, resulting in a market volume of US$53.60bn by 2029.
  • Furthermore, the average spend per employee in the IT Services market is projected to reach US$1.89k in 2024.
  • When compared globally, United States is anticipated to generate the highest revenue, with US$522.00bn in 2024.
  • Australia & Oceania has seen a surge in demand for cloud computing services, with businesses increasingly relying on scalable and flexible IT solutions.

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

 
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Analyst Opinion

The IT Services market in Australia & Oceania has been experiencing steady growth in recent years.

Customer preferences:
Customers in Australia & Oceania are increasingly looking for IT services that can help them improve their business operations and increase productivity. This has led to a growing demand for cloud computing, cybersecurity, and data analytics services. Customers are also looking for IT services providers who can offer customized solutions that meet their specific business needs.

Trends in the market:
One of the key trends in the IT Services market in Australia & Oceania is the growing adoption of cloud computing services. Many businesses are moving their IT infrastructure to the cloud to reduce costs and improve efficiency. Another trend is the increasing demand for cybersecurity services, as businesses seek to protect their data from cyber threats. Data analytics is also a growing area, as businesses look to make better use of the vast amounts of data they generate.

Local special circumstances:
Australia & Oceania is a region with a diverse range of economies and cultures. This means that IT services providers need to be able to offer solutions that are tailored to the specific needs of each market. For example, businesses in Australia may have different IT needs than those in New Zealand or Papua New Guinea. IT services providers need to be able to understand these differences and offer solutions that meet the unique needs of each market.

Underlying macroeconomic factors:
The IT Services market in Australia & Oceania is being driven by a number of underlying macroeconomic factors. These include a growing demand for digital services, a shift towards cloud computing, and an increasing need for cybersecurity. The region is also experiencing a period of economic growth, which is driving demand for IT services. Additionally, the COVID-19 pandemic has accelerated the adoption of digital technologies, which has further boosted demand for IT services.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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