IT Outsourcing - Gambia

Gambia

Revenue in the IT Outsourcing market is projected to reach US$6.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.78%, resulting in a market volume of US$10.01m by 2029.
The average Spend per Employee in the IT Outsourcing market is projected to reach US$5.83 in 2024.
In global comparison, most revenue will be generated in the United States (US$197.30bn in 2024).

Key regions: Netherlands, United States, Japan, Germany, Italy

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

Region

Region comparison

Currency

Analyst Opinion

The IT outsourcing market in Gambia has been experiencing steady growth over the past few years.

Customer preferences: Gambian companies are increasingly looking to outsource their IT needs to cut costs and improve efficiency. Many businesses in the country lack the resources to maintain an in-house IT team, making outsourcing an attractive option. Additionally, outsourcing allows companies to access specialized expertise that may not be available locally.

Trends in the market: One of the key trends in the IT outsourcing market in Gambia is the growing popularity of cloud computing. Many businesses are adopting cloud-based solutions to improve their operations and reduce costs. This trend is expected to continue in the coming years as more companies recognize the benefits of cloud computing.Another trend in the market is the increasing use of mobile technology. With more Gambians owning smartphones and using mobile apps, businesses are looking to develop mobile-friendly websites and apps to better engage with their customers. This has led to a rise in demand for mobile app development services.

Local special circumstances: Gambia is a small country with a relatively small IT industry. This means that many businesses in the country rely on outsourcing to access the expertise they need. Additionally, the country has a young and growing population, which is increasingly tech-savvy and open to new technologies. This presents opportunities for IT outsourcing companies that can provide innovative solutions to meet the needs of Gambian businesses.

Underlying macroeconomic factors: Gambia is a developing country with a relatively small economy. However, the government has been working to improve the business environment and attract foreign investment. This has led to increased interest from international companies looking to outsource their IT needs to Gambia. Additionally, the country's strategic location on the west coast of Africa makes it an attractive destination for companies looking to expand into other African markets. Overall, the IT outsourcing market in Gambia is expected to continue growing in the coming years as more businesses recognize the benefits of outsourcing their IT needs.

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.