The Gross Capital Formation on IT Services in Malaysia has seen a steady increase from 2015 to 2023. In 2023, the value stood at 21.25 billion Malaysian Ringgits. Significant growth phases included a peak increment in 2018 at 9.13%, while recent years reflected a more moderate increase with 1.74% in 2022 and 1.68% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years demonstrates a decelerating trend, with 1.6% in 2022 and 1.55% in 2023.

Looking forward, forecasted figures from 2024 to 2028 suggest a continued but moderate rise, with a forecasted 5-year CAGR of 1.18%, reflecting a total growth of approximately 6.06% by 2028.

Future trends to watch for include:

Potential market disruptors such as new technological advancements or policy changes.
Increased integration of AI and automation within IT services.
Impact of global economic conditions on local IT investments.