The output of Computer Programming and Consultancy Services in South Korea saw a steady increase from 2015 to 2019, peaking at 65.895 trillion South Korean Wons in 2019. However, 2020 experienced a significant dip of 17.14% due to external factors, presumably the COVID-19 pandemic. Recovery was swift, with a remarkable 22.1% year-on-year increase in 2021, reaching 66.671 trillion Wons. This robust growth continued mildly up to 2023, standing at 68.385 trillion Wons, with minor increases reflected by a 1.26% year-on-year growth rate.
For future trends, 2024 forecasts anticipate continued growth with values expected to reach 72.818 trillion Wons by 2028. The forecasted 5-year CAGR of 0.99% suggests moderate but consistent growth. Key trends to watch include digital transformation acceleration, increasing demand for AI and machine learning solutions, and ongoing evolution in cloud computing and cybersecurity.
