Forecast: IT services Output in the Netherlands

The IT services output in the Netherlands has demonstrated a steady growth trajectory from 2013 to 2023, increasing from 26.63 billion Euros in 2013 to 71.37 billion Euros in 2023. This represents a considerable growth, particularly in recent years where the year-on-year variation has sustained above 8% after a slight dip to 4.47% in 2020. Over the past two years (2022-2023), the growth rates were 10.37% and 8.99%, respectively. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) stands at 8.39%, indicating robust growth.

Looking forward, the forecast suggests continued expansion with an expected value of 99.97 billion Euros by 2028. The forecasted CAGR for the next five years is 5.3%, showing a slight deceleration compared to the past. However, the cumulative growth over these five years is projected to be 29.48%, emphasizing ongoing positive momentum.

Future trends to watch for include the increasing impact of digital transformation across industries, advancements in cloud computing, and the continued evolution of artificial intelligence and machine learning, all likely to drive further growth in the IT services sector in the Netherlands.