Market Insights Technology IT Services IT Outsourcing

Other IT Outsourcing - Hong Kong

Hong Kong

The Other IT Outsourcing market in Hong Kong is forecasted to achieve a revenue of US$1.02bn in 2024.
Looking ahead, this market segment is anticipated to display a compound annual growth rate (CAGR 2024-2029) of 5.29%, resulting in a market volume of US$1.32bn by 2029.
Moreover, the average Spend per Employee in the Other IT Outsourcing market sector is expected to reach US$274.20 in 2024.
It is worth noting that in terms of global comparison, United States is projected to generate the highest revenue in this market segment, amounting to US$68,890.00m in 2024.
Hong Kong's reputation as a global financial hub has led to a surge in demand for other IT outsourcing services in the IT Services market.

Key regions: United Kingdom, India, United States, Japan, Brazil

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Region

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Currency

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.