The value added of IT services in Austria has shown a consistent upward trend from 2013 through 2023, growing from €5.13 billion to €9.19 billion. The sector experienced varying year-on-year growth rates, with notable peaks in 2018 (11.49%) and 2019 (10.39%). Over the past five years, the compound annual growth rate (CAGR) was 5.11%. The lower growth rate in recent years suggests a maturing market. However, the forecast predicts continued growth, reaching €11.05 billion by 2028 with a future five-year CAGR of 2.92%, indicating a steady but decelerated progression.
Future trends to watch for:
- Increased demand for digital transformation services as businesses seek more efficient, digital solutions.
- Adoption of emerging technologies such as artificial intelligence, cloud computing, and blockchain driving new service offerings.
- Potential regulatory changes impacting data security and privacy which could influence service capabilities and market dynamics.
- Shifts in workforce models, including remote and hybrid work, necessitating robust IT support and infrastructure solutions.
