IT Outsourcing - Suriname

Suriname

Revenue in the IT Outsourcing market is projected to reach US$11.96m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.02%, resulting in a market volume of US$21.10m by 2029.
The average Spend per Employee in the IT Outsourcing market is projected to reach US$45.83 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.

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Market

Region

Region comparison

Currency

Analyst Opinion

Suriname, a small country in South America, is slowly but surely developing its IT outsourcing market.

Customer preferences: Suriname's IT outsourcing market is still in its infancy, but there has been a noticeable shift towards companies outsourcing their IT needs. This can be attributed to the growing demand for advanced technology solutions and the need for cost-effective measures to sustain business operations. Companies are looking to outsource their IT needs to take advantage of the lower costs and access to specialized expertise.

Trends in the market: One of the most significant trends in Suriname's IT outsourcing market is the growth of cloud computing. This technology has become increasingly popular due to its flexibility, scalability, and cost-effectiveness. As a result, more companies are shifting their IT infrastructure to the cloud, and this has created opportunities for IT outsourcing companies to provide cloud-based solutions.Another trend is the rise of mobile applications. With the widespread use of smartphones and tablets, companies are looking to develop mobile applications to reach their customers. IT outsourcing companies are providing mobile application development services to meet this demand.

Local special circumstances: Suriname's small size and limited resources have made it challenging for the country to develop its IT outsourcing market. However, the government has recognized the importance of the IT sector and has taken steps to promote its growth. The government has implemented policies to encourage foreign investment in the IT sector and has provided tax incentives to IT companies.

Underlying macroeconomic factors: Suriname's economy is heavily dependent on the export of natural resources, such as gold and oil. However, the country has been facing economic challenges in recent years due to falling commodity prices and a decline in production. As a result, the government has been looking to diversify the economy and promote other sectors, such as the IT sector. The IT sector has the potential to create jobs and generate revenue for the country, and the government is keen to develop this sector further.

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.