The value added of ICT in Spain experienced fluctuations from 2013 to 2023, starting at €41.29 billion in 2013 and standing at €38.63 billion in 2023. Year-on-year variations include a significant drop in 2016 by 11.8% and robust growth in 2021 at 7.6%. Over the last five years, the compound annual growth rate (CAGR) averaged -0.7%. A noticeable decline occurred in 2022, with a reduction of over 10% compared to the previous year, followed by a minor decrease in 2023.
Future forecasts predict a gradual decline with a forecast 5-year CAGR of -0.59%, reaching €37.23 billion by 2028. Key trends to watch include the impact of digital transformation initiatives, government policies on technology, and investment levels in innovation and ICT infrastructure, which can influence the overall trajectory of the sector.
