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Cyprus' information and communication technology (ICT) sector is projected to see substantial growth, with revenue expected to climb to approximately €12.7 billion by 2028. This marks a significant increase from the €8.3 billion recorded in 2023, translating to a compound annual growth rate (CAGR) of 6.8%. The Cypriot ICT market has experienced robust expansion since 2010, registering an average annual growth rate of 18.5%. As of 2023, Cyprus held the 24th position globally in terms of ICT revenue. Notably, Luxembourg surpassed Cyprus with its own revenue of €8.3 billion. In the broader European context, the United Kingdom, Ireland, and France ranked as the second, third, and fourth largest ICT markets, respectively. The steady growth in Cyprus highlights the island nation's increasing significance in the global ICT landscape.

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