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Key regions: United States, China, India, Japan, Germany
Hungary, a country in Central Europe, has been experiencing a steady growth in the IT Services market in recent years.
Customer preferences: Hungarian customers are increasingly demanding IT services that are tailored to their specific needs. They are looking for solutions that are efficient, cost-effective and can be easily integrated into their existing systems. Additionally, there is a growing demand for cloud-based services, as businesses seek to reduce their IT infrastructure costs and increase their flexibility.
Trends in the market: One of the key trends in the Hungarian IT Services market is the increasing adoption of digital transformation solutions. As businesses look to modernize their operations and stay competitive, they are investing in technologies such as artificial intelligence, big data analytics, and the Internet of Things (IoT). This has led to a growing demand for IT consulting and system integration services.Another trend in the market is the rising popularity of outsourcing. Many Hungarian businesses are turning to outsourcing as a way to reduce their costs and improve their efficiency. This has created opportunities for IT service providers who can offer high-quality services at competitive prices.
Local special circumstances: Hungary has a highly skilled workforce in the IT sector, which has helped to drive the growth of the IT Services market. The country has a strong education system and a large pool of talented IT professionals, which has made it an attractive location for outsourcing IT services.
Underlying macroeconomic factors: The Hungarian economy has been growing steadily in recent years, which has led to an increase in business confidence and investment. This has created a favorable environment for the IT Services market, as businesses look to invest in technologies that can help them stay competitive.In conclusion, the IT Services market in Hungary is experiencing steady growth, driven by customer demand for tailored solutions, the adoption of digital transformation technologies, and the rising popularity of outsourcing. With a highly skilled workforce and a favorable macroeconomic environment, Hungary is well-positioned to continue to grow its IT Services market in the years to come.
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)