Market Insights Technology IT Services IT Outsourcing

Administration Outsourcing - Croatia

Croatia

Revenue in the Administration Outsourcing market is projected to reach US$41.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.03%, resulting in a market volume of US$52.45m by 2029.
The average Spend per Employee in the Administration Outsourcing market is projected to reach US$23.72 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 Croatia has been steadily growing in recent years.

Customer preferences: Croatian businesses are increasingly turning to Administration Outsourcing services to reduce costs and improve efficiency. Small and medium-sized enterprises (SMEs) are the primary customers of these services, as they often lack the resources to handle administrative tasks in-house. Outsourcing these tasks allows them to focus on their core business activities and increase their competitiveness.

Trends in the market: One of the main trends in the Administration Outsourcing market in Croatia is the growing demand for digital services. Many businesses are looking for providers that can offer digital solutions for tasks such as accounting, payroll, and document management. This trend is driven by the increasing adoption of digital technologies in Croatian businesses, as well as the need for remote work solutions during the COVID-19 pandemic.Another trend in the market is the increasing specialization of Administration Outsourcing services. Providers are developing expertise in specific industries and offering tailored solutions to meet the unique needs of businesses in those industries. For example, some providers specialize in healthcare administration or legal document management.

Local special circumstances: Croatia's economy is heavily reliant on tourism, which has been severely impacted by the COVID-19 pandemic. This has led many businesses to seek cost-saving measures such as Administration Outsourcing services. Additionally, Croatia has a relatively high tax burden compared to other EU countries, which makes outsourcing administrative tasks an attractive option for businesses looking to reduce costs.

Underlying macroeconomic factors: Croatia's economy has been growing steadily in recent years, with GDP increasing by 2.9% in 2019. However, the COVID-19 pandemic has caused a sharp contraction in the economy, with GDP expected to decline by 8.4% in 2020. This has led many businesses to seek cost-saving measures such as Administration Outsourcing services.In conclusion, the Administration Outsourcing market in Croatia is growing due to increasing demand for cost-saving measures and digital solutions. The market is also becoming more specialized, with providers developing expertise in specific industries. The COVID-19 pandemic has further accelerated these trends, as businesses seek remote work solutions and cost-saving measures in the face of economic uncertainty.

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.