The Value Added of ICT and Information Services in the US has shown strong growth from 2013 to 2019, with year-on-year variations typically positive, peaking at 11.41% in 2018. There was a notable drop in 2020 by 59.18%, likely due to the global pandemic, followed by a significant rebound in 2021 with a year-on-year increase of 165.45%. The growth stabilized in 2022 and 2023 with figures of 1.82% and 3.64%, respectively, and in 2023 the value stood at $741.25 billion. The Compounded Annual Growth Rate (CAGR) over the last five years was 4.69%.
Predictions for the future from 2024 to 2028 suggest a slower growth phase compared to previous periods, with a forecasted five-year CAGR of 2.64%, indicating more moderate expansion with an anticipated overall increase of 13.91% over that period.
Future trends to watch for:
- Technological advancements driving further growth in the ICT sector.
- Potential economic impacts and recovery post COVID-19.
- Increased adoption of digital services and cyber-security investments.
- Shifts in global trade policies and their impact on the ICT industry.
