Market Insights Technology IT Services IT Outsourcing

Application Outsourcing - Australia

Australia

Revenue in the Application Outsourcing market is projected to reach US$3.13bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.37%, resulting in a market volume of US$3.35bn by 2029.
The average Spend per Employee in the Application Outsourcing market is projected to reach US$214.10 in 2024.
In global comparison, most revenue will be generated in the United States (US$42,860.00m in 2024).

Key regions: Brazil, Germany, United Kingdom, Netherlands, China

Market

Region

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Currency

Analyst Opinion

Australia, known for its picturesque landscapes and diverse wildlife, has been experiencing a steady growth in the Application Outsourcing market.

Customer preferences: Australian companies have been increasingly outsourcing their application development needs to third-party vendors due to several reasons. Firstly, outsourcing helps companies to focus on their core business operations, resulting in increased productivity and efficiency. Secondly, outsourcing helps companies to reduce costs associated with hiring and training employees. Finally, outsourcing provides access to a wider pool of skilled professionals, resulting in better quality work.

Trends in the market: One of the significant trends in the Australian Application Outsourcing market is the increasing adoption of cloud-based services. Cloud-based services offer several advantages, including scalability, cost-effectiveness, and flexibility. As a result, many companies are migrating their applications to cloud-based platforms. Another trend is the increasing demand for mobile application development. With the rise of smartphones and tablets, companies are looking to develop mobile applications to reach a wider audience.

Local special circumstances: One of the unique factors that influence the Australian Application Outsourcing market is the country's geography. Australia is a vast country with a relatively small population, resulting in a dispersed market. As a result, many companies are turning to outsourcing to access a wider pool of skilled professionals. Additionally, the Australian government has been promoting outsourcing as a way to support the growth of the IT industry.

Underlying macroeconomic factors: The Australian economy has been growing steadily, with a focus on the service sector. The IT industry is a significant contributor to the service sector, and outsourcing has been a way to support its growth. Additionally, the Australian government has been investing in the IT industry, with several initiatives aimed at promoting innovation and entrepreneurship. These initiatives have resulted in the development of a vibrant IT ecosystem, attracting both local and international players.In conclusion, the Australian Application Outsourcing market is experiencing steady growth due to several factors, including customer preferences, local special circumstances, and underlying macroeconomic factors. The market is expected to continue to grow in the coming years, driven by trends such as cloud-based services and mobile application development.

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.