Key regions: Germany, China, United States, United Kingdom, Italy
The popularity of the internet in Bhutan has been on the rise in recent years, with more and more people gaining access to it. This has led to an increase in demand for web hosting services in the country.
Customer preferences: Bhutanese customers prefer web hosting services that are reliable, affordable, and offer good customer support. They also tend to prefer local web hosting providers over international ones, as they believe that local providers are more likely to understand their needs and provide better customer service.
Trends in the market: One of the key trends in the web hosting market in Bhutan is the increasing demand for cloud hosting services. Cloud hosting is becoming more popular as it is more flexible and scalable than traditional hosting methods. Another trend is the growing popularity of website builders, which allow users to create a website without any coding knowledge. This trend is particularly popular among small business owners and individuals who want to create a personal website.
Local special circumstances: One of the unique aspects of the web hosting market in Bhutan is the government's focus on promoting the use of local hosting services. The government has launched several initiatives to encourage the use of local hosting providers, including offering tax incentives to businesses that use local hosting services. This has led to the growth of several local web hosting companies in the country.
Underlying macroeconomic factors: The growth of the web hosting market in Bhutan is closely tied to the country's economic development. As the economy continues to grow, more businesses and individuals are looking to establish an online presence. Additionally, the government's focus on promoting the use of local hosting services has helped to create a favorable environment for local web hosting companies to thrive. Finally, the increasing popularity of cloud hosting and website builders is a reflection of the growing demand for more flexible and user-friendly web hosting solutions.
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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