IT Outsourcing - Equatorial Guinea

Equatorial Guinea

Equatorial Guinea is expected to witness a significant surge in revenue within the IT Outsourcing market, with projections indicating a substantial increase to US$30.12m by the year 2025.
This growth is further anticipated to continue at an annual rate of 6.06% from 2025 to 2029, ultimately resulting in a market volume of US$38.11m.
The average Spend per Employee within this sector is also expected to rise, reaching US$49.21 in the year 2025.
In the global context, it is worth noting that United States is projected to generate the highest revenue, with an estimated amount of US$213.60bn in 2025.
Equatorial Guinea's IT Outsourcing market is steadily growing, driven by the country's increasing investment in technology infrastructure and skilled workforce.

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

Definition:
The IT Outsourcing market refers to the external contracting of IT functions, services, or projects instead of relying on company-owned resources. By outsourcing IT tasks (e.g., to IT suppliers or software developers), enterprises are able to focus on their core functions and save internal resources and costs (e.g., office space, maintenance, and utilities). Thus, outsourcing teams becomes a viable cost resilience strategy in an environment where companies are looking to save money more than ever.

In an IT context, these activities include IT administration, IT application, and web hosting services. Non-IT-related outsourcing services are excluded.

Structure:

IT Outsourcing contains four distinct markets that are based on different services:

Administration Outsourcing refers to the market for services associated with the external sourcing of typical IT administration tasks such as hardware supply, setup, configuration, maintenance, security, and support.
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.
Web Hosting includes all types of internet hosting services that allow companies or individuals to provide access to their web page via the World Wide Web.
Other IT Outsourcing refers to aggregated revenues of the types of IT outsourcing that are not specifically mentioned in the other IT Outsourcing markets, such as infrastructure outsourcing, network outsourcing, and managed services.

Additional Information:

The IT Outsourcing market comprises revenues, revenue change, average spend per employee, and revenues of the outsourcing types. 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 IBM, Accenture, Capgemini, NTT, and Hewlett Packard Enterprise.

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Market

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Analyst Opinion

Equatorial Guinea, a small country located in Central Africa, has seen a recent surge in its IT outsourcing market.

Customer preferences: Equatorial Guinea's IT outsourcing market has been driven by the demand for cost-effective and efficient IT solutions. Many local businesses are looking to outsource their IT needs to reduce costs and improve their operational efficiency. Additionally, the country's government has been actively promoting the development of the IT sector, which has further fueled the growth of the outsourcing market.

Trends in the market: One of the key trends in Equatorial Guinea's IT outsourcing market is the rise of cloud-based solutions. Many businesses are turning to cloud-based services to reduce their IT infrastructure costs and improve their flexibility. Another trend is the growing demand for cybersecurity services, as companies seek to protect their sensitive data from cyber threats.

Local special circumstances: Equatorial Guinea's small size and limited resources have made it challenging for local businesses to develop their own IT capabilities. As a result, IT outsourcing has become an attractive option for many companies. Additionally, the country's relatively low labor costs have made it an appealing destination for outsourcing services.

Underlying macroeconomic factors: Equatorial Guinea's economy is heavily dependent on its oil and gas industry, which has been a major driver of economic growth in recent years. However, the country has been facing challenges due to the decline in oil prices and the COVID-19 pandemic. As a result, many businesses are looking to reduce costs, which has further fueled the growth of the IT outsourcing market. Additionally, the government has been implementing policies to diversify the economy and promote the development of the IT sector, which has created new opportunities for outsourcing services.

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.