IT Services - Jordan

Jordan

The IT Services market in Jordan is expected to see a revenue of US$386.10m in 2024.
Among the various segments, IT Outsourcing is set to dominate with a projected market volume of US$143.90m in the same year.
Looking ahead, a steady annual growth rate (CAGR 2024-2029) of 6.55% is anticipated, resulting in a market volume of US$530.20m by 2029.
Furthermore, the average Spend per Employee in the IT Services market is projected to reach US$122.20 in 2024.
It is worth noting that when compared globally, United States is expected to generate the highest revenue, amounting to US$522.00bn in 2024.
Jordan is experiencing a surge in demand for IT services, with a growing number of companies outsourcing their technology needs to local providers.

Key regions: United States, China, India, Japan, Germany

Definition:
The IT Services market encompasses a wide range of services used by organizations to create, manage, and deliver information, and it includes services that provide assistance with various other business functions. The primary goal of IT services is to ensure that information technology infrastructure, applications, and systems are effectively implemented, operated, and optimized to support an organization's business objectives and requirements. The specific range of services offered may vary depending on the service provider and the client's requirements.

Structure:

IT Services contains four distinct markets that are based on different services:

IT Consulting & Implementation covers advisory services that help businesses evaluate their technology strategies and align them with their business strategies or internal processes.
Business Process Outsourcing (BPO) refers to the transfer of entire business processes or individual activities from a company to a third party and is often IT based. BPO covers a wide variety of business processes, usually either in the back office (e.g., human resources) or in the front office (e.g., customer service in call centers).
IT Outsourcing refers to the external contracting of all IT-related services instead of relying on company-owned resources. In an IT context, these activities include IT administration, IT application, and web hosting services.
The Other IT Services market covers revenues for areas that are not specifically mentioned in the other markets, such as system integration, software installation and support, and IT education and training.

Additional Information:

The IT Services market comprises revenues, revenue change, average spend per employee, and a list of the key players in the market and their consolidated revenues. 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, Cognizant, Hewlett Packard Enterprise, and TCS.

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Analyst Opinion

The IT Services market in Jordan has been experiencing significant growth in recent years.

Customer preferences: Customers in Jordan are increasingly looking for innovative and efficient IT solutions to help them improve their business operations. They are particularly interested in cloud computing, cybersecurity, and data analytics services. Additionally, as many businesses in the country are small and medium-sized enterprises (SMEs), they are looking for cost-effective IT solutions that can help them compete with larger companies.

Trends in the market: One of the main trends in the IT Services market in Jordan is the increasing adoption of cloud computing services. This is due to the many benefits that cloud computing offers, including cost savings, scalability, and flexibility. Another trend is the growing demand for cybersecurity services, as businesses in the country are becoming more aware of the importance of protecting their data and networks from cyber threats. Finally, there is a growing interest in data analytics services, as businesses look to gain insights from their data to improve their operations and decision-making processes.

Local special circumstances: Jordan has a well-educated and tech-savvy population, with a large number of graduates in IT-related fields. This has helped to create a strong pool of IT talent in the country, which has attracted many foreign companies to set up operations in Jordan. Additionally, the government has been supportive of the IT industry, providing incentives to companies that invest in the sector.

Underlying macroeconomic factors: Jordan has a relatively stable political and economic environment, which has helped to attract foreign investment to the country. Additionally, the country has a strategic location, with easy access to markets in the Middle East and North Africa. Finally, the government has been implementing economic reforms aimed at improving the business environment and attracting foreign investment. All of these factors have helped to create a favorable environment for the development of the IT Services market in Jordan.

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.