The Application Outsourcing market in Portugal is experiencing significant growth in recent years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: One of the main reasons for the growth of the Application Outsourcing market in Portugal is the increasing demand for cost-effective and high-quality IT services. Many companies in Portugal are seeking to reduce their IT costs while maintaining high levels of service quality, which has led to a rise in demand for outsourcing services. Additionally, the growing adoption of cloud-based technologies and the need for specialized IT skills are also driving the demand for Application Outsourcing services in Portugal.
Trends in the market: The Application Outsourcing market in Portugal is witnessing several trends that are shaping its growth. Firstly, there is a trend towards the adoption of agile methodologies, which are more flexible and responsive to changing business needs. Secondly, there is a growing preference for nearshore outsourcing services, as companies seek to work with providers that are in the same time zone and have a similar cultural and business environment. Thirdly, there is an increasing demand for digital transformation services, as companies seek to leverage new technologies such as AI, IoT, and blockchain to drive innovation and improve their business processes.
Local special circumstances: Portugal's location and cultural proximity to Europe and North America make it an attractive destination for Application Outsourcing services. Additionally, the country has a highly skilled and educated workforce, with a large pool of IT talent that is proficient in English and other European languages. Furthermore, the Portuguese government has implemented several policies to support the growth of the IT sector, including tax incentives and funding for research and development.
Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the Application Outsourcing market in Portugal. Firstly, the country's stable political environment and membership in the European Union make it an attractive destination for foreign investment. Secondly, Portugal's cost competitiveness compared to other European countries is driving the demand for outsourcing services. Finally, the country's strong digital infrastructure, including high-speed internet and fiber-optic networks, is enabling the growth of the IT sector and the Application Outsourcing market.
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)
