The IT services Gross Value Added (GVA) in Italy stood at 38.54 billion Euros in 2023. From 2013 to 2023, the sector experienced a positive growth trajectory, driven by incremental year-on-year variations such as a notable 6.98% in 2016 and a steady 5.99% in 2022. However, growth rates fluctuated, evidenced by minor contractions in 2019 and 2020, close to 0.29% and 0.44% respectively.

Looking at the past two years, 2022 and 2023 showed consistent growth, with year-on-year variations of 5.99% and 2.81%, respectively. Analyzing the last five years, from 2018 to 2023, the sector achieved an average CAGR of 2.88%, reflecting stable yet moderate growth.

Future trends to watch:

Forecasted steady growth with a 5-year CAGR of 1.99% from 2024 to 2028.
Focus on technological advancements and digital transformation potentially influencing future GVA increments.
Potential impact of global economic conditions on IT services demand and investment in the region.