IT Outsourcing - Peru

  • Peru
  • Revenue in the IT Outsourcing market is projected to reach US$551.00m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.22%, resulting in a market volume of US$856.40m by 2029.
  • The average Spend per Employee in the IT Outsourcing market is projected to reach US$30.09 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

 
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Analyst Opinion

The IT Outsourcing market in Peru has been steadily growing in recent years.

Customer preferences:
Peruvian companies are increasingly outsourcing their IT services to reduce costs and improve efficiency. This trend is driven by the need for companies to focus on their core competencies and leave the technical aspects to specialized service providers. Additionally, the shortage of skilled IT professionals in Peru has led companies to look for outsourcing options to fill the gap.

Trends in the market:
One of the major trends in the IT Outsourcing market in Peru is the growth of cloud-based services. Companies are increasingly adopting cloud-based solutions to reduce costs and improve flexibility. Another trend is the rise of nearshore outsourcing, where companies outsource their IT services to nearby countries such as Colombia and Chile. This trend is driven by the need for companies to reduce language and cultural barriers, as well as to take advantage of lower labor costs.

Local special circumstances:
Peru has a relatively stable political and economic environment, which makes it an attractive destination for outsourcing services. Additionally, the country has a large pool of young and educated professionals who are proficient in English and other languages. This has made Peru an attractive destination for companies looking to outsource their IT services.

Underlying macroeconomic factors:
The growth of the IT Outsourcing market in Peru is driven by several macroeconomic factors, including the country's stable economic growth, increasing foreign investment, and the government's efforts to promote the development of the IT sector. Additionally, Peru's strategic location and its membership in the Pacific Alliance trade bloc have made it an attractive destination for companies looking to expand their operations in the region. Overall, the IT Outsourcing market in Peru is expected to continue growing in the coming years, driven by the country's favorable business environment and the increasing demand for IT services.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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