The production of ICT and Information Services in Sweden has shown a steady upward trend from 2013 to 2023. In 2023, the industry stood at 451.09 Billion Swedish Kronas. The sector experienced significant growth particularly noticeable in the periods between 2017 and 2019, with year-on-year increases around 12.5%, and an impressive average annual growth rate (CAGR) of 8.29% in 2021. Despite a minor dip in 2020, the market rebounded in 2021 with an 11.7% rise. Over the past five years, the industry maintained a CAGR of 4.97%, illustrating sustainable growth.
However, growth softened entering 2022 and 2023 with respective year-on-year increases of 1.77% and 3.59%. Forecasts from 2024 to 2028 show a gradual progression with an average annual growth rate of 2.61%, projecting a total growth of 13.73% over the five years.
Future trends to watch for:
- The evolving integration of AI and machine learning in ICT services.
- Increased emphasis on cybersecurity as digital transformation accelerates.
- Growing investments in 5G technology and IoT (Internet of Things).
- Potential regulatory impacts from both local and European entities.
