The IT services sector in Finland has shown a steady increase in employee hours from 2013 to 2023, with 126.9 million hours recorded in 2023. Year-on-year percentage increases have demonstrated consistent growth, particularly noted from 2017 onwards. The year 2022 exhibited a notable 6.68% increase, followed by a 4.62% rise in 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) has averaged 5.03%, indicating a robust upward trend.
Looking ahead, forecasted data suggests a continued growth but at a decelerated rate, with a projected CAGR of 1.62% from 2024 to 2028, translating to an overall 8.36% growth during this period.
Future trends to watch for:
- Impact of technological advancements and automation on workforce requirements.
- Influence of global economic conditions on the demand for IT services.
- Potential skills gap and its effect on labor supply within the sector.
- Adoption of remote working practices and its implications on operational hours.
