Key regions: Brazil, Germany, United Kingdom, Netherlands, China
Malta, a small island nation in the Mediterranean, has been experiencing a steady growth in its Application Outsourcing market in recent years.
Customer preferences: Maltese companies have been increasingly outsourcing their application development and maintenance needs to third-party service providers. This trend is driven by the desire to reduce costs, improve efficiency, and access specialized expertise. The majority of companies in Malta prefer to outsource their application development and maintenance needs to local service providers, due to the convenience of proximity and ease of communication.
Trends in the market: The Application Outsourcing market in Malta is expected to continue its growth trajectory in the coming years, driven by the increasing demand for digital transformation initiatives. Maltese companies are increasingly adopting cloud-based solutions, which require specialized expertise for their development, deployment, and maintenance. This has created opportunities for local service providers to offer specialized services in cloud-based application development and maintenance.
Local special circumstances: Malta has a highly skilled workforce, with a large number of IT professionals who have experience in application development and maintenance. This has made it possible for local service providers to offer high-quality services at competitive prices. Additionally, Malta's location in the Mediterranean makes it an attractive location for companies looking to outsource their application development and maintenance needs to a service provider in a nearby time zone.
Underlying macroeconomic factors: Malta's economy has been growing steadily in recent years, driven by a strong tourism industry and a thriving financial services sector. This has created a favorable business environment for local service providers, who are able to offer their services at competitive prices due to lower operating costs than in other European countries. Additionally, Malta's membership in the European Union has made it easier for local service providers to do business with companies in other EU countries.
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.
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