IT Outsourcing - Myanmar | Statista Market Forecast

Revenue in the IT Outsourcing market is projected to reach US$206.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.66%, resulting in a market volume of US$327.60m by 2029.
The average Spend per Employee in the IT Outsourcing market is projected to reach US$8.29 in 2024.
In global comparison, most revenue will be generated United States (US$197.30bn in 2024).

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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Application outsourcing, such as ScienceSoft, Arcanys, and SumatoSoft
Administration outsourcing, such as Conduent, Genpact, and ADP (Automatic Data Processing)
Web hosting, such as GoDaddy, Bluehost, and Amazon Web Services
Infrastructure outsourcing, such as IBM Global Technology Services, Wipro Infrastructure Engineering, and Cognizant Infrastructure Services

Business process outsourcing, such as IBM, Infosys, and NTT Data
Professional payment outsourcing, such as Paychex, ADP (Automatic Data Processing), and WNS Global Services
Infrastructure as a service, such as Microsoft Azure, Alibaba Cloud, and DigitalOcean
Platform as a service, such as Microsoft Azura, Google Cloud, and Engine Yard
Non-IT related outsourcing

Myanmar, a country in Southeast Asia, has been experiencing a significant development in its IT Outsourcing market in recent years.

Customer preferences: Myanmar has a young and tech-savvy population, which has been a significant factor in the growth of the IT Outsourcing market. The country's workforce comprises a considerable number of skilled IT professionals who are fluent in English. This has made Myanmar an attractive outsourcing destination for international companies looking to outsource their IT services.

Trends in the market: The IT Outsourcing market in Myanmar has been growing at a steady pace, with a significant increase in the number of companies offering IT outsourcing services. The country has been able to attract foreign investment in the IT sector, which has led to the establishment of several IT companies in the country. These companies provide a wide range of IT services, including software development, web design, and digital marketing.

Local special circumstances: Myanmar has a unique advantage in the IT Outsourcing market due to its proximity to other Asian countries such as India, China, and Thailand. This has enabled the country to establish strong business ties with these countries, which has led to an increase in cross-border IT outsourcing. The government of Myanmar has also been supportive of the IT sector, providing tax incentives and other benefits to IT companies operating in the country.

Underlying macroeconomic factors: Myanmar's economy has been growing at a steady pace, with a focus on developing its infrastructure and attracting foreign investment. The country's GDP has been increasing, and the government has been investing heavily in the development of the IT sector. The growth of the IT Outsourcing market in Myanmar is also driven by the increasing demand for IT services worldwide. As more companies look to outsource their IT services, Myanmar is well-positioned to take advantage of this trend. In conclusion, Myanmar's IT Outsourcing market has been growing at a steady pace, driven by the country's young and skilled workforce, proximity to other Asian countries, government support, and increasing demand for IT services worldwide. As the country continues to develop its infrastructure and attract foreign investment, the IT Outsourcing market in Myanmar is expected to continue its growth trajectory.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Unseen yet omnipresent, Information Technology (IT) services are the invisible gears driving modern organizations. These services support business operations and digital transformation through outsourcing, managed services, security, data management, and cloud computing. By leveraging these services, companies enhance efficiency, reduce costs, and gain competitive advantages in a digital marketplace. Prominent cloud providers worldwide include Amazon Web Services, Microsoft Azure, Google Cloud, and Alibaba Cloud. In the managed services sector, Oracle, Accenture, and IBM are among the largest providers globally.