IT Outsourcing - Seychelles

Seychelles

Revenue in the IT Outsourcing market is projected to reach US$3.51m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.17%, resulting in a market volume of US$5.96m by 2029.
The average Spend per Employee in the IT Outsourcing market is projected to reach US$0.22 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

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.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The IT Outsourcing market in Seychelles has been steadily growing in recent years, reflecting the country's increasing focus on developing its technology sector.

Customer preferences: One of the main drivers of this growth is the increasing demand for IT services from local businesses. As Seychelles becomes more connected to the global economy, businesses are looking for ways to improve their efficiency and competitiveness, and outsourcing IT services is seen as a cost-effective way to achieve this. Additionally, many businesses in Seychelles are small or medium-sized enterprises that may not have the resources to invest in their own IT infrastructure, making outsourcing an attractive option.

Trends in the market: One trend that is shaping the IT Outsourcing market in Seychelles is the increasing adoption of cloud computing. Cloud services offer a range of benefits to businesses, including flexibility, scalability, and cost savings, and many IT outsourcing providers in Seychelles are now offering cloud-based solutions to their clients. Another trend is the growing importance of cybersecurity, as businesses become more aware of the risks posed by cyber threats. This has led to an increase in demand for IT outsourcing providers that can offer robust security solutions.

Local special circumstances: One unique aspect of the IT Outsourcing market in Seychelles is the country's focus on sustainability. As a small island nation, Seychelles is acutely aware of the impact of climate change, and many businesses are looking for ways to reduce their carbon footprint. This has led to a growing demand for IT outsourcing providers that can offer sustainable solutions, such as energy-efficient data centers and renewable energy sources.

Underlying macroeconomic factors: The growth of the IT Outsourcing market in Seychelles is also being driven by broader macroeconomic factors. The government has identified the technology sector as a key area for growth and has introduced a range of measures to support the development of the industry, such as tax incentives and investment in infrastructure. Additionally, Seychelles' strategic location in the Indian Ocean makes it an attractive destination for businesses looking to outsource IT services to the African continent and beyond. As such, the IT Outsourcing market in Seychelles is likely to continue to grow in the coming years, as businesses seek to take advantage of the country's unique advantages and expertise in the technology sector.

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.