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Key regions: United States, China, India, Japan, Germany
Bangladesh, a country in South Asia, is experiencing a surge in the demand for IT services.
Customer preferences: The increasing adoption of digitalization and the need for technological advancements have driven the demand for IT services in Bangladesh. Businesses in the country are looking to enhance their productivity and efficiency by implementing digital solutions. Additionally, the growing popularity of e-commerce platforms has increased the need for IT services to support online transactions.
Trends in the market: One of the notable trends in the IT services market in Bangladesh is the rise of outsourcing. Many businesses in developed countries are outsourcing their IT services to Bangladesh due to the cost-effective nature of the market. This trend has led to the growth of the IT services industry in Bangladesh, with many local companies offering outsourcing services to international clients.Another trend in the market is the increasing demand for cloud-based solutions. With the rise of remote work and the need for data storage and accessibility, businesses in Bangladesh are turning to cloud-based solutions for their IT needs. This trend is expected to continue as more businesses shift towards digitalization.
Local special circumstances: The IT services market in Bangladesh is unique due to the country's large population of tech-savvy young people. With over 60% of the population under the age of 30, there is a large pool of talent available for the IT services industry. This has led to the growth of many local IT companies, as well as the establishment of international companies in the country.
Underlying macroeconomic factors: The IT services market in Bangladesh is also influenced by the country's economic growth. Bangladesh has experienced steady economic growth in recent years, with a focus on developing its technology sector. The government has implemented policies and initiatives to support the growth of the IT services industry, including tax incentives and the establishment of technology parks.In conclusion, the IT services market in Bangladesh is experiencing significant growth due to the increasing demand for digital solutions, outsourcing, and cloud-based services. The country's large pool of tech-savvy young people and government support for the technology sector are also contributing factors to the market's growth.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)