IT Services - Spain

Spain

Revenue in the IT Services market is projected to reach €25.28bn in 2024.
IT Outsourcing dominates the market with a projected market volume of €9.89bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.22%, resulting in a market volume of €32.60bn by 2029.
The average Spend per Employee in the IT Services market is projected to reach €1,030.00 in 2024.
In global comparison, most revenue will be generated in the United States (€484.00bn in 2024).

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

Spain, a country known for its rich culture, history, and football, is also home to a thriving IT Services market.

Customer preferences: Spanish customers have shown a growing preference for cloud-based IT solutions, which has led to an increase in demand for cloud-based services. Additionally, the need for cybersecurity solutions has also been on the rise as companies seek to protect their sensitive information from cyber attacks.

Trends in the market: One of the key trends in the IT Services market in Spain is the increasing adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies. These technologies are being used to automate processes, improve efficiency, and enhance customer experience. Another trend is the growth of the Internet of Things (IoT) market, which is being driven by the increasing number of connected devices and the need for real-time data analysis.

Local special circumstances: Spain has a large number of small and medium-sized enterprises (SMEs) that are driving the growth of the IT Services market. These companies are looking for affordable and flexible IT solutions that can help them compete with larger enterprises. Additionally, the Spanish government has been actively promoting the use of technology in various sectors, which has also contributed to the growth of the IT Services market.

Underlying macroeconomic factors: The IT Services market in Spain is being driven by several macroeconomic factors, including the country's strong economic growth, low unemployment rate, and increasing investment in technology. Additionally, Spain's membership in the European Union has made it an attractive destination for foreign investors looking to tap into the European market. The country's skilled workforce, competitive labor costs, and favorable business environment have also contributed to the growth of the IT Services market.

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.