IT Services - Greece

  • Greece
  • Revenue in the IT Services market is projected to reach US$1,770.00m in 2024.
  • Business Process Outsourcing dominates the market with a projected market volume of US$811.80m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.44%, resulting in a market volume of US$2,096.00m by 2029.
  • The average Spend per Employee in the IT Services market is projected to reach US$366.50 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

 
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Analyst Opinion

The IT Services market in Greece has been growing steadily in recent years, driven by a number of factors.

Customer preferences:
Greek businesses have been increasingly turning to IT services to streamline their operations and improve their competitiveness. The demand for IT services in Greece is being driven by businesses looking to improve their efficiency, reduce costs, and enhance their customer experience. In particular, there has been a growing demand for cloud-based services, as businesses look to take advantage of the flexibility and scalability offered by these solutions.

Trends in the market:
One of the key trends in the IT Services market in Greece is the growing adoption of cloud-based solutions. This trend is being driven by a number of factors, including the increasing availability of high-speed internet, the need for businesses to be more agile and responsive to changing market conditions, and the growing awareness of the benefits of cloud-based solutions. Another trend in the market is the increasing demand for cybersecurity services, as businesses look to protect themselves against the growing threat of cyber attacks.

Local special circumstances:
One of the unique aspects of the IT Services market in Greece is the country's geography. Greece is home to many small and medium-sized businesses that are spread out across the country, which can make it challenging for IT services providers to reach all their potential customers. This has led to the development of a number of regional IT services providers, who are able to provide more localized support to businesses in their area.

Underlying macroeconomic factors:
The Greek economy has been slowly recovering from the financial crisis of the late 2000s, and this recovery has helped to drive growth in the IT Services market. As the economy has improved, businesses have become more willing to invest in IT services to improve their operations and stay competitive. Additionally, the Greek government has been investing in infrastructure projects that are designed to improve the country's digital infrastructure, which is helping to drive growth in the IT Services market.

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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