The European IT services Gross Value Added (GVA) in 2023 showed considerable year-on-year growth, with all countries in the dataset displaying positive trends. The Netherlands led with a substantial GVA of 31.51 billion Euros in 2023, reflecting a 7.63% increase from the previous year. Spain followed with a GVA of 25.57 billion Euros, marking a 7.03% rise. Austria and Finland exhibited 5.7% and 7.34% growth respectively. Remarkably, Slovakia and Greece saw 8.1% and 7.42% increases. Lithuania and Estonia, although smaller in scale, exhibited impressive growth rates of 14.55% and 12.83% year-on-year.
Looking ahead, the European IT services sector is expected to continue expanding. Key trends to watch include advancements in digital transformation, increased adoption of cloud computing, cybersecurity investments, and the integration of AI and machine learning technologies. These factors are likely to drive further growth in IT services GVA across Europe, fostering innovation and economic development in the region.
Top countries in IT services Gross Value Added by Country
| # | 8 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 31,510 | 2023 | +6.51% | +7.63% | View data |
| 2 | 2 Spain | 25,570 | 2023 | +6.2% | +7.03% | View data |
| 3 | 3 Austria | 9,450 | 2023 | +5.32% | +5.7% | View data |
| 4 | 4 Finland | 8,800 | 2023 | +5.96% | +7.34% | View data |
| 5 | 5 Slovakia | 3,420 | 2023 | +6.15% | +8.1% | View data |
| 6 | 6 Greece | 1,830 | 2023 | +4.6% | +7.42% | View data |
| 7 | 7 Lithuania | 1,690 | 2023 | +11.4% | +14.55% | View data |
| 8 | 8 Estonia | 1,650 | 2023 | +7.16% | +12.83% | View data |
