IT Services - Serbia

  • Serbia
  • Revenue in the IT Services market is projected to reach US$392.90m in 2024.
  • Other IT Services dominates the market with a projected market volume of US$130.30m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 8.08%, resulting in a market volume of US$536.10m by 2028.
  • The average Spend per Employee in the IT Services market is projected to reach US$99.76 in 2024.
  • In global comparison, most revenue will be generated in the United States (US$495.30bn in 2024).

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

Region comparison

Analyst Opinion

The IT Services market in Serbia has been experiencing significant growth in recent years, driven by several factors.

Customer preferences:
Serbian customers are increasingly seeking out IT services that can help them improve their businesses. This includes services such as cloud computing, big data analytics, and cybersecurity. Additionally, many companies are looking to outsource their IT needs, which has led to an increase in demand for IT consulting and outsourcing services.

Trends in the market:
One of the major trends in the IT Services market in Serbia is the increasing adoption of cloud computing. This trend is being driven by the need for more flexible and scalable IT solutions. Another trend is the growing demand for big data analytics services, as companies seek to make better use of the data they collect. Finally, cybersecurity is becoming an increasingly important concern for businesses in Serbia, which has led to a growing demand for cybersecurity services.

Local special circumstances:
Serbia has a highly educated workforce, with a large number of people working in the IT sector. This has helped to drive the growth of the IT Services market in the country, as companies are able to find skilled workers to meet their needs. Additionally, Serbia has a relatively low cost of living compared to other European countries, which has made it an attractive location for outsourcing IT services.

Underlying macroeconomic factors:
Serbia has been experiencing steady economic growth in recent years, which has helped to drive demand for IT services. Additionally, the government has been investing in the country's IT infrastructure, which has helped to create a favorable environment for IT companies. Finally, Serbia's location in the heart of Europe makes it an attractive location for companies looking to expand their operations in the region.


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.


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.


  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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