Market Insights Technology IT Services IT Outsourcing

Administration Outsourcing - Zambia

Zambia

Revenue in the Administration Outsourcing market is projected to reach US$15.32m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.30%, resulting in a market volume of US$21.79m by 2029.
The average Spend per Employee in the Administration Outsourcing market is projected to reach US$2.10 in 2024.
In global comparison, most revenue will be generated in the United States (US$27,290.00m in 2024).

Key regions: China, United States, Germany, India, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Administration Outsourcing market in Zambia has been experiencing significant growth in recent years, with a number of factors contributing to this development.

Customer preferences: Zambian businesses are increasingly turning to outsourcing as a means of reducing costs and improving efficiency. Many companies are finding that outsourcing certain administrative tasks can free up valuable resources and allow them to focus on core business activities. Additionally, outsourcing can provide access to specialized expertise that may not be available in-house.

Trends in the market: One of the key trends in the Administration Outsourcing market in Zambia is the growing demand for digital services. As more businesses embrace digital transformation, there has been a corresponding increase in demand for outsourcing providers that can offer digital solutions such as cloud-based platforms and data analytics. Another trend is the emergence of niche outsourcing providers that specialize in specific areas such as payroll or HR administration.

Local special circumstances: Zambia's relatively low labor costs and English-speaking workforce make it an attractive location for outsourcing providers. Additionally, the country's stable political environment and improving infrastructure have helped to create a favorable business climate.

Underlying macroeconomic factors: Zambia's economy has been growing steadily in recent years, with a focus on diversifying away from traditional industries such as mining and agriculture. This has created new opportunities for outsourcing providers, particularly in areas such as IT and digital services. However, the country still faces challenges such as high levels of poverty and unemployment, which could impact the long-term growth of the Administration Outsourcing 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.