Market Insights Technology IT Services IT Outsourcing

Application Outsourcing - Belgium

Belgium

Revenue in the Application Outsourcing market is projected to reach €0.76bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.26%, resulting in a market volume of €0.75bn by 2029.
The average Spend per Employee in the Application Outsourcing market is projected to reach €141.10 in 2024.
In global comparison, most revenue will be generated in the United States (€39,330.00m in 2024).

Key regions: India, Italy, Germany, Brazil, Japan

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Analyst Opinion

Belgium, a country known for its chocolate, waffles, and beer, has also been witnessing significant growth in its Application Outsourcing market.

Customer preferences: Belgium's Application Outsourcing market is driven by the growing demand for customized software solutions. Companies are looking for tailor-made applications that can cater to their specific business needs. Moreover, the rising adoption of cloud-based technologies has also boosted the demand for Application Outsourcing services in the country.

Trends in the market: One of the major trends in the Belgian Application Outsourcing market is the increasing adoption of Agile and DevOps methodologies. These methodologies have gained popularity due to their ability to deliver software solutions faster and with better quality. Additionally, the country has seen a rise in the number of small and medium-sized enterprises (SMEs) outsourcing their application development needs to third-party vendors. This trend is expected to continue in the coming years, as SMEs look to reduce their IT costs and focus on their core business operations.

Local special circumstances: Belgium's central location in Europe has made it an attractive destination for companies looking to outsource their IT needs. The country has a highly skilled workforce, with a large number of IT professionals who are proficient in multiple languages. Moreover, the Belgian government offers various incentives to companies looking to invest in the country, including tax breaks and subsidies.

Underlying macroeconomic factors: Belgium's stable economy and favorable business environment have also contributed to the growth of its Application Outsourcing market. The country has a strong presence in the European Union, which has helped it attract foreign investment. Additionally, the government's focus on innovation and digitalization has led to the growth of the IT sector, which in turn has boosted the demand for Application Outsourcing services.In conclusion, Belgium's Application Outsourcing market is witnessing significant growth, driven by the increasing demand for customized software solutions and the adoption of cloud-based technologies. The country's central location, skilled workforce, and favorable business environment make it an attractive destination for companies looking to outsource their IT needs. The trend towards Agile and DevOps methodologies and the rising number of SMEs outsourcing their application development needs are expected to continue in the coming years.

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.