Market Insights Technology IT Services IT Outsourcing

Administration Outsourcing - Sweden

Sweden

Revenue in the Administration Outsourcing market is projected to reach US$0.81bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.72%, resulting in a market volume of US$1.02bn by 2029.
The average Spend per Employee in the Administration Outsourcing market is projected to reach US$141.90 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

Region

Region comparison

Currency

Analyst Opinion

The Administration Outsourcing market in Sweden has seen a steady growth in recent years.

Customer preferences: Swedish companies are increasingly outsourcing their administrative tasks to third-party service providers. This is because outsourcing allows companies to focus on their core competencies and reduce costs associated with hiring and training in-house personnel. Additionally, outsourcing administrative tasks to specialized service providers often results in higher quality work and increased efficiency.

Trends in the market: One trend in the Administration Outsourcing market in Sweden is the increasing use of automation and digitalization. This allows service providers to offer their services at a lower cost and with greater speed and accuracy. Another trend is the growing demand for specialized administrative services, such as HR and payroll outsourcing. As companies seek to streamline their operations, they are increasingly turning to specialized service providers to handle these tasks.

Local special circumstances: Sweden has a highly skilled workforce, and many service providers in the Administration Outsourcing market have taken advantage of this by offering high-quality, specialized services. Additionally, the Swedish government has made efforts to attract foreign investment and promote entrepreneurship, which has helped to create a favorable business environment for service providers.

Underlying macroeconomic factors: Sweden has a strong economy with a high level of economic freedom. This has helped to attract foreign investment and create a favorable business environment for service providers. Additionally, Sweden has a highly educated workforce and a culture of innovation, which has helped to drive the development of new technologies and services in the Administration Outsourcing 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.