The IT services sector in Austria exhibited a robust growth trend over the past decade. In 2023, wages and salaries in the industry stood at 5.55 billion Euros, reflecting a gradual increase since 2013. From 2013 to 2023, a consistent upward trajectory was noted with an average annual growth (CAGR) over the last five years at 7.87%. Year-on-year growth was particularly strong in 2019 at 10.91% but has since steadied to 6.46% by 2023. Looking forward, wage forecasts indicate continued growth with figures expected to reach 7.18 billion Euros by 2028, albeit at a slower pace with a 5-year CAGR of 4.05%. This projects a cumulative growth rate of 21.99% over this period.
Future trends to watch for:
- Impact of automation and AI on job roles and salary structures.
- Potential regulatory changes affecting labor markets and wages.
- Continued demand for highly skilled IT professionals driving wage increases.
- Global economic factors influencing the IT services sector's expansion and profitability.
