IT Consulting & Implementation - Egypt

Egypt

The IT Consulting & Implementation 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$82.84m by 2024.
Moreover, there is an anticipated annual growth rate (CAGR 2024-2029) of 11.21%, which will result in a market volume of US$140.90m by 2029.
When it comes to spending, the average Spend per Employee in the IT Consulting & Implementation market is projected to be US$2.50 in 2024.
This indicates the level of investment that companies are willing to make in this sector.
In terms of global comparison, United States is expected to generate the most revenue in the IT Consulting & Implementation market, with a staggering US$27,220.00m in 2024.
This highlights the dominance of the US market in this industry.
These figures demonstrate the potential growth and opportunities that the IT Consulting & Implementation market in Egypt holds.
With its strong revenue projections and the global market leader, United States, setting the pace, in Egypt is well-positioned to capitalize on this lucrative sector.
Egypt's IT consulting and implementation market is experiencing rapid growth, driven by the country's increasing investment in digital infrastructure and rising demand for technological solutions.

Key regions: Brazil, Italy, India, Germany, Netherlands

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Analyst Opinion

The IT Consulting & Implementation market in Egypt has been growing steadily over the past few years, driven by various factors such as increasing demand for digital transformation, rising adoption of cloud computing, and the government's focus on developing the country's ICT infrastructure.

Customer preferences: There is a growing demand for IT consulting and implementation services in Egypt due to the increasing need for businesses to stay competitive in a rapidly changing digital landscape. Customers are looking for IT solutions that can help them optimize their operations, improve customer experience, and increase efficiency. Additionally, there is a growing trend towards outsourcing IT services, as businesses seek to reduce costs and focus on their core competencies.

Trends in the market: One of the key trends in the IT Consulting & Implementation market in Egypt is the increasing adoption of cloud computing. Companies are increasingly moving their operations to the cloud to take advantage of its scalability, flexibility, and cost-effectiveness. This trend is driving demand for cloud consulting and implementation services, as businesses seek to migrate their existing systems to the cloud or develop new cloud-based solutions.Another trend in the market is the growing importance of cybersecurity. With the increasing amount of data being generated and stored by businesses, cybersecurity has become a critical concern. Companies are looking for IT consulting and implementation services that can help them develop robust cybersecurity strategies and implement effective security measures.

Local special circumstances: Egypt has a large and growing population of tech-savvy young people, with a high percentage of the population under the age of 30. This demographic is driving demand for digital services, including IT consulting and implementation. Additionally, the government has been investing heavily in developing the country's ICT infrastructure, which is creating new opportunities for IT consulting and implementation firms.

Underlying macroeconomic factors: Egypt's economy has been growing steadily in recent years, with a focus on diversifying the economy and attracting foreign investment. The government has implemented a number of economic reforms aimed at improving the business environment and attracting investment, which is creating new opportunities for IT consulting and implementation firms. Additionally, the country's strategic location and access to international markets make it an attractive destination for businesses looking to expand their operations in the region.

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.