Market Insights Technology IT Services IT Outsourcing

Application Outsourcing - Brunei Darussalam

Brunei Darussalam

Revenue in the Application Outsourcing market is projected to reach US$7.73m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.39%, resulting in a market volume of US$7.88m by 2029.
The average Spend per Employee in the Application Outsourcing market is projected to reach US$33.69 in 2024.
In global comparison, most revenue will be generated in the United States (US$42,860.00m in 2024).

Key regions: Brazil, Germany, United Kingdom, Netherlands, China

Market

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Analyst Opinion

The Application Outsourcing market in Brunei Darussalam has been experiencing growth in recent years.

Customer preferences: Brunei Darussalam is a small country with a population of around 460,000 people, and the majority of the population is young. The younger generation in Brunei Darussalam is tech-savvy and prefers to use digital platforms for their day-to-day activities. This has created a demand for companies to outsource their application development needs to specialized service providers.

Trends in the market: The trend of outsourcing application development to specialized service providers has been gaining popularity in Brunei Darussalam. This is due to the fact that outsourcing allows companies to focus on their core competencies while leaving the application development to the experts. Additionally, outsourcing can be a cost-effective solution for companies, as it eliminates the need to hire and train in-house developers.

Local special circumstances: Brunei Darussalam is a small country with a limited pool of talent in the technology sector. This has led to a situation where companies are unable to find the right talent for their application development needs. As a result, outsourcing has become a viable solution for companies looking to meet their application development needs.

Underlying macroeconomic factors: Brunei Darussalam is a small oil-rich country that has been investing heavily in diversifying its economy. The government has been promoting the growth of the technology sector by providing incentives to companies in the form of tax breaks and other benefits. This has led to an increase in the number of companies operating in the technology sector in Brunei Darussalam. Additionally, the country has a stable political environment and a strong legal system, which makes it an attractive destination for companies looking to outsource their application development needs.

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.