The value added of ICT and Information Services in Spain has shown a steady increase from 13.51 billion Euros in 2013 to 19.72 billion Euros in 2023. The annual growth rate fluctuated over the years, with significant growth in the years 2016, 2017, and 2018, and a notable slowdown in growth rates for the years 2022 and 2023. Over the past two years, growth rates have been moderate, with a 0.56% increase in 2022 and a 2.46% increase in 2023. The recent 5-year CAGR stands at 2.3%, indicating a balanced but slower growth compared to previous years.
The forecast data suggests a continuation of this upward trend, with the value predicted to reach 21.97 billion Euros by 2028. The forecasted 5-year CAGR is estimated at 1.69%, highlighting a slight deceleration in growth. However, the sector remains robust and is slated for overall expansion with an estimated 8.72% growth over the next five years.
Future trends to watch for:
- Continued integration of advanced technologies such as AI, machine learning, and IoT into ICT and information services.
- Digital transformation and increased investment in digital infrastructure could drive further growth.
- Potential impacts of global economic conditions and regulatory changes on the ICT sector.
