Forecast: IT services Output in Germany

Based on the provided data, the IT services output in Germany has shown a significant upward trend from 2013 to 2023, reaching 223.79 billion Euros in 2023. From 2013 to 2023, the Compound Annual Growth Rate (CAGR) averaged 7.39%, reflecting robust growth in the sector. Particularly notable years include 2018 and 2021, with year-on-year variations of 14.17% and 16.71%, respectively. In the most recent two years, the growth rates were slightly lower at 4.84% in 2022 and 6.57% in 2023, indicating a modest deceleration in growth momentum.

Looking ahead, the forecasted data suggests continued growth, albeit at a slower pace, with a 5-year CAGR projected at 4.13%. This describes a more stable yet persistent increase in IT services output. Key milestones are expected to be reached with output hitting 290.69 billion Euros by 2028, representing an overall growth rate of 22.43% over this period.

Future trends to watch for include:

• Increased integration of AI and machine learning in IT services driving efficiency and innovation.
• Growing demand for cybersecurity solutions amidst rising concerns over data breaches and cyber threats.
• Expansion of cloud computing services as businesses continue to adapt to hybrid working models.
• Digital transformation initiatives among SMEs, fostering broader market participation.