IT Consulting & Implementation - Bangladesh

Revenue in the IT Consulting & Implementation market is projected to reach US$103.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.86%, resulting in a market volume of US$173.30m by 2029.
The average Spend per Employee in the IT Consulting & Implementation market is projected to reach US$1.32 in 2024.
In global comparison, most revenue will be generated United States (US$27.22bn in 2024).

Definition :
The IT Consulting & Implementation market refers to advisory services provided by professionals and firms that help businesses evaluate their technology strategies and align them with their business strategies or internal processes. IT consulting and implementation services help organizations leverage technology effectively to streamline operations, improve efficiency, enhance security, and achieve their business objectives. Consulting areas include the overall strategy, technology architecture, and implementation. Any non-IT-related business consulting and implementation services are excluded from this analysis.

Additional Information:

The IT Consulting & Implementation market comprises revenues, revenue change, average spend per employee, and a list of the key players in the market and their consolidated revenues. Market values represent revenues that are generated by primary vendors either directly or through distribution channels at the manufacturer price level (excluding VAT). Reported market revenues include spending by enterprises (B2B) and governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed. Key players in the market include Accenture, IBM, Cognizant, TCS, and Infosys.

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IT consulting on general strategy, such as McKinsey & Company, Infosys Consulting, and BCG (Boston Consulting Group)
IT consulting on technology architecture, such as Cognizant Technology Solutions, Atos, and HCL Technologies
IT consulting on implementation, such as Wipro Technologies, Tata Consultancy Services (TCS), and Deloitte

Business process outsourcing, such as IBM, Infosys, and NTT Data
IT outsourcing, such as Capgemini, Cognizant, and Fujitsu
Human Resources Consulting, such as PwC (PricewaterhouseCoopers), Willis Towers Watson, and Aon
Financial Consulting, such as Bain & Company, KPMG, and Oliver Wyman
Non-IT Business Consulting

IT Consulting & Implementation services have been growing in demand in Bangladesh over the past few years, driven by the country's increasing focus on digital transformation and innovation.

Customer preferences: Bangladesh's IT Consulting & Implementation market is largely dominated by small and medium-sized enterprises (SMEs) looking to adopt new technologies and improve their business processes. These companies are increasingly turning to IT consulting firms to help them navigate the complex landscape of digital transformation, including cloud computing, cybersecurity, and data analytics.

Trends in the market: One of the major trends in the IT Consulting & Implementation market in Bangladesh is the growing demand for cloud-based solutions. Many SMEs are looking to move their operations to the cloud in order to reduce costs, improve scalability, and enhance their overall efficiency. This trend is expected to continue in the coming years as more companies become aware of the benefits of cloud computing.Another trend in the market is the increasing importance of cybersecurity. With the rise of cyber threats and data breaches, companies are investing more in cybersecurity measures to protect their sensitive information. IT consulting firms are playing a key role in helping companies develop and implement effective cybersecurity strategies.

Local special circumstances: Bangladesh's IT Consulting & Implementation market is unique in that it is heavily influenced by the country's rapidly growing startup ecosystem. Many startups are looking for IT consulting services to help them develop and launch their products, and this demand is driving growth in the market. Additionally, the government's Digital Bangladesh initiative is also contributing to the growth of the market by promoting the use of technology in various sectors.

Underlying macroeconomic factors: Bangladesh's economy has been growing steadily over the past few years, driven by a strong manufacturing sector and a growing services industry. This has led to an increase in demand for IT Consulting & Implementation services as more companies look to modernize their operations and stay competitive in the global market. Additionally, the country's young and tech-savvy population is also driving demand for these services, as they are increasingly using technology in their daily lives.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Unseen yet omnipresent, Information Technology (IT) services are the invisible gears driving modern organizations. These services support business operations and digital transformation through outsourcing, managed services, security, data management, and cloud computing. By leveraging these services, companies enhance efficiency, reduce costs, and gain competitive advantages in a digital marketplace. Prominent cloud providers worldwide include Amazon Web Services, Microsoft Azure, Google Cloud, and Alibaba Cloud. In the managed services sector, Oracle, Accenture, and IBM are among the largest providers globally.