Other IT Services - Kuwait

Kuwait

The Other IT Services market in Kuwait is expected to witness a significant growth in revenue, projected to reach US$167.00m Kuwaiti dinars by 2024.
Furthermore, the market is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 1.70%, resulting in a substantial market volume of US$181.70m Kuwaiti dinars by 2029.
In terms of average Spend per Employee, the Other IT Services market in Kuwait is projected to reach US$65.66 Kuwaiti dinars in 2024.
When compared globally, United States is expected to generate the highest revenue in the Other IT Services market, with an estimated value of US$151.10bn Kuwaiti dinars in 2024.
Kuwait's Other IT Services market is experiencing a surge in demand due to the country's rapid digital transformation and growing emphasis on technology-driven solutions.

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

Market

Region

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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.