Other IT Services - Hungary

Hungary

The Other IT Services market in Hungary is expected to witness significant growth in the coming years.
According to projections, the market is set to reach a revenue of US$0.58bn in 2024.
This is indicative of the country's growing demand for IT services.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 4.99% from 2024 to 2029.
As a result, the market volume is projected to reach US$0.74bn by 2029.
These figures highlight the potential for sustained expansion in Hungary's Other IT Services market.
In terms of expenditure, the average Spend per Employee in the Other IT Services market is estimated to reach US$115.00 in 2024.
This metric serves as an indicator of the level of investment made by businesses in Hungary to leverage IT services.
When comparing the global landscape, it is worth noting that United States is expected to generate the highest revenue in the Other IT Services market.
Projections indicate that the US market will generate a revenue of US$151.10bn in 2024.
This further emphasizes the dominance of the US in the global IT services market.
Overall, Hungary's Other IT Services market is poised for growth, driven by increasing demand and favorable industry dynamics.
The projected revenue and expenditure figures indicate a positive outlook for the country's IT services sector.
In Hungary, the demand for Other IT Services is rapidly growing, driven by the country's strong pool of talented IT professionals.

Key regions: China, United Kingdom, Germany, Netherlands, India

Market

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Currency

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.