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The demand for Application Outsourcing services in Asia has been on the rise in recent years.
Customer preferences: Many companies in Asia have been outsourcing their application development and maintenance needs to third-party vendors due to cost-effectiveness and the need for specialized skills. Additionally, the trend towards digital transformation has increased the demand for application outsourcing services as companies look to modernize their IT systems and stay competitive.
Trends in the market: In China, the application outsourcing market has been growing rapidly due to the country's large pool of skilled IT professionals and the government's support for the development of the IT industry. India, on the other hand, has long been a leader in the global application outsourcing market and continues to dominate due to its large pool of English-speaking IT professionals and cost-effective services. In Southeast Asia, countries like the Philippines and Vietnam have been emerging as key players in the application outsourcing market due to their growing IT industries and favorable business environments.
Local special circumstances: In Japan, the application outsourcing market has been growing due to the country's aging population and the need for digital solutions in healthcare and other industries. South Korea has also seen growth in the application outsourcing market due to the country's focus on innovation and the development of cutting-edge technologies.
Underlying macroeconomic factors: The growth of the application outsourcing market in Asia can be attributed to several underlying macroeconomic factors. One of the key drivers is the region's large pool of skilled IT professionals, which has made it an attractive destination for companies looking to outsource their IT needs. Additionally, the cost-effectiveness of outsourcing services in Asia has been a major factor in the growth of the market. Finally, the trend towards digital transformation has created a need for specialized IT services, which has further increased demand for application outsourcing services in the region.
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)