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Key regions: Netherlands, United States, Japan, Germany, Italy
Kyrgyzstan, a small landlocked country in Central Asia, has been experiencing a steady growth in its IT outsourcing market in recent years.
Customer preferences: Kyrgyzstan's IT outsourcing market is primarily driven by Western European and American clients who are attracted to the country's cost-effective services. The country has a growing pool of skilled IT professionals who offer a range of services including software development, web design, and mobile application development. Clients appreciate the country's high-quality services, timely delivery, and ability to work across different time zones.
Trends in the market: One of the major trends in Kyrgyzstan's IT outsourcing market is the rise of startups and small businesses that are turning to outsourcing to reduce costs and access specialized skills. Additionally, there has been an increasing demand for cloud computing and cybersecurity services, which has resulted in the development of new IT outsourcing firms that specialize in these areas. The country's IT outsourcing firms are also expanding their services to include emerging technologies such as blockchain and artificial intelligence.
Local special circumstances: Kyrgyzstan's IT outsourcing market is supported by the government's efforts to promote the country as a destination for IT outsourcing. The government has established the "IT Park" in Bishkek, which provides tax incentives and other benefits to IT outsourcing firms. The country's favorable business environment, low labor costs, and convenient location also make it an attractive destination for outsourcing.
Underlying macroeconomic factors: Kyrgyzstan's IT outsourcing market is supported by the country's stable economic growth, which has been driven by the services sector. The country has a young and growing population, which provides a large pool of skilled workers for the IT outsourcing industry. Additionally, the country's strategic location in Central Asia provides easy access to markets in Europe and Asia, which has helped to attract clients from a wide range of countries.
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)
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