The IT services market in Austria has demonstrated consistent growth over the past decade. In 2023, the market stood at 20.09 billion Euros. From 2013 to 2023, we observed a positive trend with notable spikes in growth during 2018 and 2019. The year 2020 saw minimal growth, likely impacted by the global pandemic. However, from 2021 onwards, growth resumed at a steady pace with 2023 showing a 5.25% year-on-year increase.
Looking forward, the forecast indicates a continued growth trend with a CAGR of 3.43% anticipated over the next five years, leading to an 18.38% total growth by 2028. This suggests a moderately optimistic outlook for the sector.
Future trends to watch for include:
- Increased adoption of digital transformation and cloud services.
- Growing demand for cybersecurity solutions.
- Expansion of AI and machine learning applications in business processes.
- Greater investments in IT infrastructure to support remote working trends.
