Market Insights Technology IT Services IT Outsourcing

Web Hosting - Iraq

Iraq

Revenue in the Web Hosting market is projected to reach US$129.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.39%, resulting in a market volume of US$275.70m by 2029.
The average Spend per Employee in the Web Hosting market is projected to reach US$10.73 in 2024.
In global comparison, most revenue will be generated in the United States (US$58,300.00m in 2024).

Key regions: Germany, China, United States, United Kingdom, Italy

Market

Region

Region comparison

Currency

Analyst Opinion

Iraq, a country in the Middle East, has been experiencing a steady growth in the Web Hosting market.

Customer preferences: Iraqi customers tend to prefer local web hosting companies over international ones due to the language barrier and trust issues. They also prioritize reliability, security, and affordability when choosing a web hosting provider.

Trends in the market: The Web Hosting market in Iraq has been growing due to the increasing demand for online presence by businesses and individuals. With the rise of e-commerce, more businesses are looking to establish an online presence to reach a wider audience. Additionally, the COVID-19 pandemic has accelerated the shift towards online platforms, leading to an increase in demand for web hosting services.

Local special circumstances: Iraq has a relatively low internet penetration rate compared to other countries in the region, which has limited the growth of the Web Hosting market. However, the government has been investing in improving internet infrastructure, which is expected to increase internet penetration and subsequently drive the growth of the Web Hosting market.

Underlying macroeconomic factors: The Iraqi economy heavily relies on the oil industry, which has been affected by fluctuations in oil prices and political instability. This has led to an uncertain business environment, which may have an impact on the growth of the Web Hosting market. Additionally, the ongoing conflict in the country has also affected the growth of the Web Hosting market. However, the government has been taking steps to improve the business environment and attract foreign investment, which is expected to have a positive impact on the Web Hosting market in the long run.

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.