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Key regions: Netherlands, United States, Japan, Germany, Italy
Bhutan, a small country in South Asia, is known for its unique culture, stunning landscapes, and commitment to environmental sustainability. However, in recent years, the country has also started to make a name for itself in the IT outsourcing market.
Customer preferences: One of the main reasons for the growth of the IT outsourcing market in Bhutan is the increasing demand for cost-effective and high-quality IT services. Many companies in developed countries are looking to outsource their IT operations to countries like Bhutan, where they can get access to a highly skilled workforce at a lower cost.
Trends in the market: One of the key trends in the IT outsourcing market in Bhutan is the increasing focus on software development and maintenance services. Many IT companies in Bhutan are specializing in these areas, and are able to offer high-quality services to clients around the world. Additionally, there is a growing trend towards cloud-based services, which is driving demand for IT outsourcing services in Bhutan.
Local special circumstances: Bhutan is a unique country with a number of special circumstances that make it an attractive destination for IT outsourcing. For example, the country has a highly educated workforce, with a strong focus on science and technology. Additionally, the government of Bhutan is committed to promoting the growth of the IT industry, and has implemented a number of policies and initiatives to support this.
Underlying macroeconomic factors: There are a number of underlying macroeconomic factors that are driving the growth of the IT outsourcing market in Bhutan. For example, the country has a stable political environment and a growing economy, which is creating opportunities for businesses across a range of sectors. Additionally, Bhutan has a young and dynamic population, which is eager to embrace new technologies and play a role in the global IT industry.
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)