The employment in the IT services sector in Sweden has shown notable growth from 160.71 million hours in 2013 to 227.76 million hours in 2023. Over the years, the year-on-year variation has fluctuated significantly, showcasing periods of both robust growth and slight decline. Particularly, between 2014 and 2023, the sector witnessed steady increases, with the highest growth of 9.06% in 2015 and a modest growth of 2.73% in 2023. The Compound Annual Growth Rate (CAGR) between 2018 and 2023 stood at 3.15%, indicating a steady upward trend.
For future trends, projections for 2024 to 2028 imply a continued rise, with the forecasted 5-year CAGR at 1.96% and an overall growth rate of 10.18%. These predictions highlight an ongoing demand for IT services, albeit at a slightly decelerated growth pace compared to previous years.
The key factors to watch for in the upcoming years include:
- Technological advancements driving increased demand for skilled IT professionals.
- Changes in economic conditions influencing corporate investments in IT services.
- Government policies and initiatives aimed at boosting the tech industry.
- Global trends in remote working and digital transformation pushing higher employment in IT services.
