Application Outsourcing - Greece | Statista Market Forecast

Revenue in the Application Outsourcing market is projected to reach US$106.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.17%, resulting in a market volume of US$105.90m by 2029.
The average Spend per Employee in the Application Outsourcing market is projected to reach US$22.12 in 2024.
In global comparison, most revenue will be generated United States (US$42.86bn in 2024).

Definition :
Application Outsourcing refers to the market for all IT application services in a software production context, spanning from requirement assessments to concept and design of software applications. Furthermore, it includes the development (production), support, and maintenance of such software products and services by contracted service providers.

Application outsourcing allows organizations to leverage specialized skills, accelerate development timelines, reduce costs, and ensure efficient management of their applications.

Additional Information:

The Application Outsourcing 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 NEC, Accenture, Capgemini, VMware, and Hewlett Packard Enterprise.

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Concept and design of software applications, such as IBM iX (IBM Interactive Experience), Tata Consultancy Services (TCS), and EPAM Systems
Development and maintenance of software products, such as Infosys, Wipro, and HCL Technologies
Requirement assessments, such as ThoughtWorks, Accenture, and Intellectsoft

Administration outsourcing, such as Conduent, Genpact, and ADP (Automatic Data Processing)
Web hosting, such as GoDaddy, Bluehost, and Amazon Web Services
Strategic Technology Planning, such as BCG (Boston Consulting Group), EY (Ernst & Young), and PwC (PricewaterhouseCoopers)
Support or maintenance for business-internal software products

The demand for Application Outsourcing services in Greece has been steadily increasing in recent years.

Customer preferences: One of the primary reasons for this growth is the increasing demand for digital transformation among Greek businesses. More and more companies are looking to modernize their operations and improve their online presence, which has led to a greater need for Application Outsourcing services. Additionally, many businesses in Greece are looking to reduce their costs and improve their efficiency, which can be achieved through outsourcing.

Trends in the market: Another trend driving the growth of the Application Outsourcing market in Greece is the increasing popularity of cloud computing. Many businesses in Greece are now looking to migrate their IT infrastructure to the cloud, which requires specialized expertise and support. As a result, there is a growing demand for Application Outsourcing services that can help businesses manage their cloud-based systems.

Local special circumstances: The Greek economy has faced significant challenges in recent years, including a prolonged recession and a debt crisis. As a result, many businesses in Greece have been forced to cut costs and find new ways to operate more efficiently. Outsourcing has become an increasingly popular option for businesses looking to reduce their expenses and improve their operations.

Underlying macroeconomic factors: Despite these challenges, the Greek economy has shown signs of improvement in recent years. The country's GDP has grown steadily since 2017, and unemployment rates have declined. Additionally, the Greek government has made efforts to attract foreign investment and promote entrepreneurship, which has helped to create new opportunities for businesses in the country.Overall, the Application Outsourcing market in Greece is expected to continue growing in the coming years, driven by the increasing demand for digital transformation, cloud computing, and cost reduction. While the Greek economy still faces challenges, there are also signs of optimism and a growing sense of confidence among businesses in the country.

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.