The number of employees in IT services in Malaysia has shown consistent growth from 2015 to 2023. In 2023, the value stood at 334.67 thousand persons. The year-on-year variation was 0.92% in 2023, slightly down from 0.95% in 2022, indicating a minor deceleration. The Compound Annual Growth Rate (CAGR) over the last five years was 0.7%, suggesting moderate and steady growth.
Future trends to watch for:
- The forecasted five-year CAGR from 2024 to 2028 is 0.74%, pointing to sustained growth in the workforce.
- The total increase in the number of employees by 2028 is expected to be 3.73%, indicating ongoing expansion.
- Keep an eye on technological advancements, changing market demands, and policies that could impact job creation within the IT services sector.