The Gross Value Added (GVA) for IT services in Sweden has shown a significant upward trend over the past decade. By 2023, the GVA stood at 283.23 billion Swedish Kronas, experiencing a year-on-year growth rate of 7.31%. The Compound Annual Growth Rate (CAGR) over the last five years was recorded at 10.17%, reflecting a healthy and robust growth trajectory in the sector.
Over the last two years, the sector's value grew markedly from 244.49 billion in 2021 to 283.23 billion in 2023, highlighting the continuous expansion and increased demand for IT services.
Looking ahead, the forecasted data suggest a steadier growth with a projected CAGR of 4.5% over the next five years, culminating in a total GVA of 376.81 billion by 2028. Despite a slightly lower growth rate compared to the previous period, the sector is expected to maintain its upward momentum.
Future trends to watch include:
- Increased investments in IT infrastructure and cloud services.
- Growth in digital transformation initiatives across various sectors.
- Rising demand for cybersecurity services and solutions.
- Expansion of AI and machine learning applications.
