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The revenue from Iceland's Information and Communication Technology (ICT) sector is projected to drop to €1.63 billion by 2028, down from €1.7 billion in 2023. This represents an average annual decline of 0.5%. Since 2019, Iceland's ICT market has experienced a steady decrease, with an average annual decline of 2.4%. In 2023, Iceland was ranked 32nd in the global ICT revenue rankings, with Latvia narrowly ahead, also posting €1.7 billion. The top spots in the rankings are held by the United Kingdom, Ireland, and France, respectively.

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