Market Insights Technology IT Services IT Outsourcing

Administration Outsourcing - Bosnia and Herzegovina

Bosnia and Herzegovina

Revenue in the Administration Outsourcing market is projected to reach US$8.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.23%, resulting in a market volume of US$10.45m by 2029.
The average Spend per Employee in the Administration Outsourcing market is projected to reach US$5.90 in 2024.
In global comparison, most revenue will be generated in the United States (US$27,290.00m in 2024).

Key regions: China, United States, Germany, India, Japan

Market

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Currency

Analyst Opinion

The Administration Outsourcing market in Bosnia and Herzegovina has been steadily growing over the past few years.

Customer preferences: Bosnian companies are increasingly turning to outsourcing their administrative tasks to third-party service providers. This is due to the cost-effectiveness of outsourcing these tasks, as well as the ability to focus on core business functions. Companies are also attracted to the expertise and specialized knowledge that outsourcing providers can offer.

Trends in the market: One trend in the Administration Outsourcing market in Bosnia and Herzegovina is the increasing demand for digital services. As more companies move towards digitalization, there is a growing need for outsourcing providers that can offer digital solutions for administrative tasks. Another trend is the rise of niche outsourcing providers, which offer specialized services for specific industries or functions.

Local special circumstances: Bosnia and Herzegovina has a relatively low cost of living and labor costs compared to other European countries. This makes it an attractive location for outsourcing providers, as they can offer competitive pricing while still maintaining a high level of service quality. Additionally, Bosnia and Herzegovina has a highly educated workforce, which is well-suited for administrative tasks that require specialized knowledge.

Underlying macroeconomic factors: Bosnia and Herzegovina has been experiencing steady economic growth over the past few years, which has contributed to the growth of the Administration Outsourcing market. Additionally, the country has made significant progress in terms of business-friendly reforms, which has attracted foreign investment and helped to create a favorable business environment. However, political instability and corruption remain ongoing challenges for the country.

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.