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Other IT Outsourcing - Cyprus

Cyprus
  • Revenue in the Other IT Outsourcing market is projected to reach US$28.98m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.74%, resulting in a market volume of US$38.30m by 2029.
  • The average Spend per Employee in the Other IT Outsourcing market is projected to reach US$42.08 in 2024.
  • In global comparison, most revenue will be generated United States (US$68.89bn in 2024).

Definition :
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.

These outsourcing services are not as prominent as those in the three main markets, but they’re becoming increasingly relevant.

Additional Information:

The Other IT Outsourcing market comprises revenues, revenue change, and average spend per employee. 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.

For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Infrastructure outsourcing, such as IBM Global Technology Services, Wipro Infrastructure Engineering, and Cognizant Infrastructure Services
  • Network outsourcing, such as DXC Technology, Orange Business Services, and Wipro
  • Managed services, such as Hewlett Packard Enterprise (HPE), Capgemini, and Accenture

Out-Of-Scope

  • 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
  • IT training & education, such as Skillsoft, LinkedIn Learning, and NIIT
  • Non-IT related outsourcing
IT Outsourcing: market data & analysis - Cover

Market Insights report

IT Outsourcing: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Apr 2024

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Apr 2024

    Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices

    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.

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    IT Outsourcing: market data & analysis - BackgroundIT Outsourcing: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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