The value added of Computer Programming and Consultancy in the US has displayed steady growth from 2013 to 2023, where it stood at $413.82 billion in 2023. This growth exhibited a compound annual growth rate (CAGR) of approximately 7.04% from 2013 to 2018, signifying robust expansion. The period from 2018 to 2023 has seen a slightly decelerated growth with a CAGR of 4.75%. Notably, the year-on-year growth for the past two years (2022-2023) was 1.28% and 3.14%, respectively, indicating a stabilization trend.
Future trends to watch for:
- Technological innovations: Driving further demand for advanced programming services.
- Increased emphasis on cybersecurity: Leading to growth in consultancy services.
- Economic conditions: Potentially impacting the pace of industry growth.
With a forecasted CAGR of 2.08% from 2024 to 2028, we expect a continued upward trajectory albeit at a moderated pace, achieving a value of $473.19 billion by 2028.
