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Key regions: United States, China, India, Japan, Germany
The IT Services market in GCC has been developing rapidly in recent years, driven by various factors such as increasing demand for cloud-based solutions, rising adoption of big data analytics, and growing investments in digital transformation initiatives.
Customer preferences: Customers in the GCC region are increasingly looking for IT services that can help them improve their business processes, enhance operational efficiency, and reduce costs. They are also seeking solutions that can help them stay competitive in a rapidly evolving digital landscape. As a result, there has been a growing demand for IT services such as cloud computing, cybersecurity, and data analytics.
Trends in the market: One of the key trends in the IT services market in GCC is the increasing adoption of cloud-based solutions. This is driven by the need for greater flexibility, scalability, and cost-effectiveness. Many organizations are also looking to move their IT infrastructure to the cloud to improve their disaster recovery capabilities and reduce their overall IT costs.Another trend in the market is the rising adoption of big data analytics. Organizations are increasingly looking to leverage the vast amounts of data they generate to gain insights into customer behavior, market trends, and operational performance. This has led to a growing demand for IT services that can help organizations collect, store, and analyze large volumes of data.
Local special circumstances: The GCC region has a rapidly growing population, which is driving the demand for IT services. There is also a strong focus on innovation and digital transformation, with many governments in the region investing heavily in initiatives aimed at promoting digitalization and boosting economic growth. This has created a favorable environment for IT services providers, who are well positioned to capitalize on the growing demand for digital solutions.
Underlying macroeconomic factors: The GCC region has a strong economy, driven by the oil and gas industry. However, there is a growing recognition of the need to diversify the economy and reduce reliance on oil revenues. This has led to a greater focus on sectors such as technology and innovation, which are seen as key drivers of economic growth in the region. As a result, there has been a growing demand for IT services, as organizations seek to leverage technology to improve their business processes and stay competitive.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)