IT Services - Egypt

  • Egypt
  • The IT Services market in Egypt is expected to witness significant growth in the coming years.
  • According to projections, the revenue in this market is set to reach US$1.57bn by 2024.
  • It is worth noting that IT Outsourcing is the dominant segment in this market, with a projected market volume of US$0.58bn in 2024.
  • This indicates the high demand for outsourcing services in the country.
  • Looking ahead, the IT Services market in Egypt is expected to maintain a steady growth rate.
  • With an annual growth rate (CAGR 2024-2029) of 12.51%, the market volume is projected to reach US$2.83bn by 2029.
  • This demonstrates the potential for further expansion and development in the IT sector.
  • When it comes to the average Spend per Employee in the IT Services market, it is expected to reach US$47.48 in 2024.
  • This metric serves as an indicator of the level of investment and expenditure within the industry.
  • In terms of global comparison, United States is anticipated to generate the highest revenue in the IT Services market, with a projected revenue of US$522.00bn in 2024.
  • This highlights the dominance of the US market and its significance in the global IT industry.
  • Overall, the IT Services market in Egypt is poised for growth, driven by factors such as increasing demand for outsourcing services and technological advancements.
  • This presents opportunities for both local and international players to capitalize on the market's potential and contribute to its development.
  • Despite facing economic challenges, Egypt's IT Services market is experiencing steady growth due to an increase in government investment and a growing pool of skilled IT professionals.

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

 
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Analyst Opinion

The IT Services market in Egypt has been experiencing significant growth in recent years.

Customer preferences:
Egyptian customers are increasingly looking for IT services that offer innovative solutions and high-quality customer service. They place a high value on reliability and security, as well as cost-effectiveness.

Trends in the market:
One of the key trends in the IT Services market in Egypt is the increasing adoption of cloud computing solutions. This is driven by the need for greater flexibility and scalability, as well as cost savings. Another trend is the growing demand for cybersecurity services, as businesses seek to protect themselves against cyber threats and data breaches. In addition, there is a growing focus on digital transformation, with businesses seeking to modernize their IT infrastructure and processes.

Local special circumstances:
Egypt has a young and rapidly growing population, with a high level of digital literacy. This has created a large and growing market for IT services, particularly in areas such as e-commerce, mobile applications, and social media. In addition, the government has been investing heavily in the development of the country's IT infrastructure, with a particular focus on expanding broadband access and promoting digital innovation.

Underlying macroeconomic factors:
Egypt's economy has been growing steadily in recent years, driven by a combination of domestic consumption, investment, and exports. This has created a favorable business environment for IT services providers, with increasing demand from both the public and private sectors. In addition, the government has implemented a number of economic reforms aimed at improving the country's competitiveness and attracting foreign investment. These factors are expected to continue to drive growth in the IT Services market in Egypt in the coming years.

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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