IT Outsourcing - Egypt

  • Egypt
  • Egypt, a country with a rich history, is poised to play a significant role in the IT Outsourcing market.
  • By 2024, the revenue in this sector is projected to reach a staggering US$576.10m.
  • This impressive figure is a testament to the country's growing prominence in the industry.
  • Looking ahead, the market is expected to display a robust annual growth rate (CAGR 2024-2029) of 15.30%.
  • As a result, the market volume is forecasted to reach an impressive US$1,174.00m by 2029.
  • Such substantial growth highlights Egypt's potential as a key player in the global IT Outsourcing market landscape.
  • When considering the average Spend per Employee in this market, in Egypt is projected to reach US$17.41 in 2024.
  • This figure showcases the country's commitment to providing competitive services in the IT Outsourcing market sector.
  • However, in terms of global comparison, it is worth noting that United States is projected to generate the highest revenue in 2024, amounting to a staggering US$197.30bn.
  • This highlights the dominance of the US market in the IT Outsourcing market industry.
  • As in Egypt continues to establish itself as a leading destination for IT Outsourcing market, it is poised to contribute significantly to the growth and development of this market segment.
  • Egypt is emerging as a competitive player in the IT outsourcing market, leveraging its skilled workforce and cost-effective solutions.

Key regions: Brazil, Italy, United States, China, Germany

 
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Analyst Opinion

Egypt, a country with a rich cultural heritage and a rapidly developing economy, has been making strides in the IT outsourcing market.

Customer preferences:
Egypt has become an increasingly popular destination for IT outsourcing due to its highly skilled workforce and competitive pricing. Many companies are attracted to Egypt's low labor costs and the availability of talented engineers and developers. Additionally, the country's favorable time zone and language capabilities make it an attractive option for businesses looking to outsource their IT needs.

Trends in the market:
One of the major trends in the IT outsourcing market in Egypt is the growing demand for software development services. Many companies are looking to outsource their software development needs to Egypt due to the country's highly skilled workforce and competitive pricing. Another trend in the market is the growing popularity of cloud computing services. Many companies are turning to cloud computing to reduce their IT costs and increase their efficiency. This has created a significant demand for cloud computing services in Egypt.

Local special circumstances:
Egypt's strategic location and favorable time zone make it an ideal location for IT outsourcing. The country is located at the crossroads of Europe, Asia, and Africa, making it easily accessible to many countries around the world. Additionally, Egypt's favorable time zone allows companies to work with their Egyptian counterparts during normal business hours, which can help to increase efficiency and productivity.

Underlying macroeconomic factors:
Egypt's economy has been growing rapidly in recent years, which has helped to fuel the growth of the IT outsourcing market. The country has made significant investments in its infrastructure and has implemented a number of economic reforms to attract foreign investment. Additionally, Egypt has a large and highly educated workforce, which has helped to attract many IT outsourcing companies to the country. Finally, the country's favorable tax policies and business-friendly environment have also helped to make it an attractive destination for IT outsourcing.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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