IT Market in Hong Kong to grow by USD 6.72 Bn; Evolving Opportunities with Accenture Plc and Alphabet Inc. -- Technavio

NEW YORK, Oct. 11, 2022 /PRNewswire/ -- The "IT Market in Hong Kong by Type and End-user - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. According to the report, the market will observe an incremental growth of USD 6.72 billion, accelerating at a CAGR of 6.81% during the forecast period. The report identifies Accenture Plc, Alphabet Inc., Deloitte Touche Tohmatsu Ltd., Digital Realty Trust Inc., DynaSys Solutions Ltd., Ernst and Young Global Ltd., and GL Software Ltd. among others as key vendors in the market. The report provides a detailed insight into the market growth drivers, product launches, successful strategies adopted by vendors, and much more. Download Sample PDF Report Here

The market is driven by the increased adoption of IT solutions among Hong Kong SMEs. Over the years, SMEs operating in Hong Kong have made substantial progress in digitalizing their operations. They are extensively investing in technologies such as cloud computing, Big Data, and IoT to improve their operational efficiency and find new avenues of revenue generation. Besides, many enterprises are replacing manual processes with digital workflows by using software and IT services. This is helping them improve operational efficiency as well as achieve cost savings. Many such benefits of using advanced IT solutions are expected to foster the growth of the IT market in Hong Kong over the forecast period.

In addition, the increasing adoption of big data solutions is anticipated to further boost the growth of the IT market in Hong Kong. However, the shortage of skilled IT professionals might reduce the growth potential in the market.

Major IT Companies in Hong Kong:

• Accenture Plc: The company offers IT outsourcing services through digital services, BPO outsourcing, App development, Change management, and digital commerce.
• Alphabet Inc.: The company provides Google infrastructure and data analytics platforms, collaboration tools, and other services for enterprise customers.
• Deloitte Touche Tohmatsu Ltd.: The company helps leading organizations imagine, deliver, and run the future of their businesses with the latest technologies, from strategy development through implementation.
• Digital Realty Trust Inc.: The company offers IT outsourcing services for financial industries, digital services, healthcare, networks, gaming, and networks.
• DynaSys Solutions Ltd.: The company offers IT outsourcing services through SAP solutions, AI solutions, Analytics, and Cloud data.
• Ernst and Young Global Ltd.: The company offers technology consulting services such as technology transformation, data and analytics, digital and emerging technology, and cybersecurity services and solutions.
• GL Software Ltd.
• HCL Technologies Ltd.
• HP Inc.
• International Business Machines Corp.
• Microsoft Corp
• Oracle Corp.
• Petabytes and Beyond Technology Ltd.
• Sanesys Consultancy Co.
• SAP SE
• Siemens AG
• SUNeVision Holdings Ltd.
• Tata Consultancy Services Ltd.
• Tech Mahindra Ltd
• WebZap Technologies

IT market In Hong Kong Type Outlook (Revenue, USD Billion, 2021-2026)

• Services - size and forecast 2021-2026
• Hardware - size and forecast 2021-2026
• Software - size and forecast 2021-2026

The IT services segment held the largest share of the market in 2021. The segment is expected to witness significant growth when compared with the other segments during the forecast period. The segment includes consulting services, learning and training, development and integration, hardware maintenance and support, IT management, process management, and software support. The ongoing shift from on-premises to cloud-based software and IT infrastructure deployment is expected to drive the growth of the IT services segment during the forecast period.

IT market In Hong Kong End-user Outlook (Revenue, USD Billion, 2021-2026)

• BFSI - size and forecast 2021-2026
• Telecommunication - size and forecast 2021-2026
• Industrial - size and forecast 2021-2026
• Others - size and forecast 2021-2026

The BFSI is the major end-user for IT services in Hong Kong. BFSI companies are investing in IT solutions to reduce costs, find new revenue-generating streams, improve security and compliance systems, and make customer support more efficient. These companies are also undertaking digital transformation initiatives, which is creating significant demand for IT services. The market growth in the segment is expected to be significant over the forecast period.

Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here 

Related Reports:

• Managed IT Infrastructure Services Market by End-user and Geography - Forecast and Analysis 2022-2026
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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 11: Chart on Hong Kong - Market size and forecast 2021-2026 ($ billion)
• Exhibit 12: Data Table on Hong Kong - Market size and forecast 2021-2026 ($ billion)
• Exhibit 13: Chart on Hong Kong: Year-over-year growth 2021-2026 (%)
• Exhibit 14: Data Table on Hong Kong: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 15: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 16: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 17: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 18: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 19: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 20: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 21: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

• 5.1 Market segments 
• Exhibit 22: Chart on Type - Market share 2021-2026 (%)
• Exhibit 23: Data Table on Type - Market share 2021-2026 (%)

• 5.2 Comparison by Type 
• Exhibit 24: Chart on Comparison by Type
• Exhibit 25: Data Table on Comparison by Type

• 5.3 Services - Market size and forecast 2021-2026
• Exhibit 26: Chart on Services - Market size and forecast 2021-2026 ($ billion)
• Exhibit 27: Data Table on Services - Market size and forecast 2021-2026 ($ billion)
• Exhibit 28: Chart on Services - Year-over-year growth 2021-2026 (%)
• Exhibit 29: Data Table on Services - Year-over-year growth 2021-2026 (%)

• 5.4 Hardware - Market size and forecast 2021-2026
• Exhibit 30: Chart on Hardware - Market size and forecast 2021-2026 ($ billion)
• Exhibit 31: Data Table on Hardware - Market size and forecast 2021-2026 ($ billion)
• Exhibit 32: Chart on Hardware - Year-over-year growth 2021-2026 (%)
• Exhibit 33: Data Table on Hardware - Year-over-year growth 2021-2026 (%)

• 5.5 Software - Market size and forecast 2021-2026
• Exhibit 34: Chart on Software - Market size and forecast 2021-2026 ($ billion)
• Exhibit 35: Data Table on Software - Market size and forecast 2021-2026 ($ billion)
• Exhibit 36: Chart on Software - Year-over-year growth 2021-2026 (%)
• Exhibit 37: Data Table on Software - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Type 
• Exhibit 38: Market opportunity by Type ($ billion)

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 39: Chart on End-user - Market share 2021-2026 (%)
• Exhibit 40: Data Table on End-user - Market share 2021-2026 (%)

• 6.2 Comparison by End-user 
• Exhibit 41: Chart on Comparison by End-user
• Exhibit 42: Data Table on Comparison by End-user

• 6.3 BFSI - Market size and forecast 2021-2026
• Exhibit 43: Chart on BFSI - Market size and forecast 2021-2026 ($ billion)
• Exhibit 44: Data Table on BFSI - Market size and forecast 2021-2026 ($ billion)
• Exhibit 45: Chart on BFSI - Year-over-year growth 2021-2026 (%)
• Exhibit 46: Data Table on BFSI - Year-over-year growth 2021-2026 (%)

• 6.4 Telecommunication - Market size and forecast 2021-2026
• Exhibit 47: Chart on Telecommunication - Market size and forecast 2021-2026 ($ billion)
• Exhibit 48: Data Table on Telecommunication - Market size and forecast 2021-2026 ($ billion)
• Exhibit 49: Chart on Telecommunication - Year-over-year growth 2021-2026 (%)
• Exhibit 50: Data Table on Telecommunication - Year-over-year growth 2021-2026 (%)

• 6.5 Industrial - Market size and forecast 2021-2026
• Exhibit 51: Chart on Industrial - Market size and forecast 2021-2026 ($ billion)
• Exhibit 52: Data Table on Industrial - Market size and forecast 2021-2026 ($ billion)
• Exhibit 53: Chart on Industrial - Year-over-year growth 2021-2026 (%)
• Exhibit 54: Data Table on Industrial - Year-over-year growth 2021-2026 (%)

• 6.6 Others - Market size and forecast 2021-2026
• Exhibit 55: Chart on Others - Market size and forecast 2021-2026 ($ billion)
• Exhibit 56: Data Table on Others - Market size and forecast 2021-2026 ($ billion)
• Exhibit 57: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 58: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 59: Market opportunity by End-user ($ billion)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 61: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 62: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 63: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 64: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 65: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 66: Matrix on vendor position and classification

• 10.3 Accenture Plc 
• Exhibit 67: Accenture Plc - Overview
• Exhibit 68: Accenture Plc - Business segments
• Exhibit 69: Accenture Plc - Key news
• Exhibit 70: Accenture Plc - Key offerings
• Exhibit 71: Accenture Plc - Segment focus

• 10.4 Digital Realty Trust Inc. 
• Exhibit 72: Digital Realty Trust Inc. - Overview
• Exhibit 73: Digital Realty Trust Inc. - Product / Service
• Exhibit 74: Digital Realty Trust Inc. - Key offerings

• 10.5 DynaSys Solutions Ltd. 
• Exhibit 75: DynaSys Solutions Ltd. - Overview
• Exhibit 76: DynaSys Solutions Ltd. - Product / Service
• Exhibit 77: DynaSys Solutions Ltd. - Key offerings

• 10.6 GL Software Ltd. 
• Exhibit 78: GL Software Ltd. - Overview
• Exhibit 79: GL Software Ltd. - Product / Service
• Exhibit 80: GL Software Ltd. - Key offerings

• 10.7 HCL Technologies Ltd. 
• Exhibit 81: HCL Technologies Ltd. - Overview
• Exhibit 82: HCL Technologies Ltd. - Business segments
• Exhibit 83: HCL Technologies Ltd. - Key offerings
• Exhibit 84: HCL Technologies Ltd. - Segment focus

• 10.8 HP Inc. 
• Exhibit 85: HP Inc. - Overview
• Exhibit 86: HP Inc. - Business segments
• Exhibit 87: HP Inc. - Key news
• Exhibit 88: HP Inc. - Key offerings
• Exhibit 89: HP Inc. - Segment focus

• 10.9 Petabytes and Beyond Technology Ltd. 
• Exhibit 90: Petabytes and Beyond Technology Ltd. - Overview
• Exhibit 91: Petabytes and Beyond Technology Ltd. - Product / Service
• Exhibit 92: Petabytes and Beyond Technology Ltd. - Key offerings

• 10.10 Sanesys Consultancy Co. 
• Exhibit 93: Sanesys Consultancy Co. - Overview
• Exhibit 94: Sanesys Consultancy Co. - Product / Service
• Exhibit 95: Sanesys Consultancy Co. - Key offerings

• 10.11 SUNeVision Holdings Ltd. 
• Exhibit 96: SUNeVision Holdings Ltd. - Overview
• Exhibit 97: SUNeVision Holdings Ltd. - Product / Service
• Exhibit 98: SUNeVision Holdings Ltd. - Key offerings

• 10.12 WebZap Technologies 
• Exhibit 99: WebZap Technologies - Overview
• Exhibit 100: WebZap Technologies - Product / Service
• Exhibit 101: WebZap Technologies - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 102: Inclusions checklist
• Exhibit 103: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 104: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 105: Research methodology
• Exhibit 106: Validation techniques employed for market sizing
• Exhibit 107: Information sources

• 11.5 List of abbreviations 
• Exhibit 108: List of abbreviations

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