The value added of IT services in Finland has demonstrated a consistent upward trend from 4.78 billion euros in 2013 to 8.1 billion euros in 2023. After a significant decline in 2015 (-9.66%), the industry rebounded and achieved remarkable growth with year-on-year increases such as 12.64% in 2017 and 10.16% in 2019. From 2018 onwards, the sector continued to expand, though at varied rates, including a growth of 3.81% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years has remained steady at 5.58%, reflecting a robust and stable growth pattern despite occasional fluctuations.
Future trends to watch for include:
- A continued growth trajectory with a forecasted CAGR of 2.55% from 2024 to 2028, indicating moderate but sustained growth over the next five years.
- Technological advancements and growing digital transformation across industries, which are likely to drive further demand for IT services in Finland.
- Potential regulatory changes and economic factors that could impact the growth rate.
