The number of self-employed people in the IT services sector in Spain experienced significant fluctuations between 2013 and 2023. Starting at 34.71 million hours in 2013, the sector peaked mid-decade with a notable increase to 50.66 million hours in 2017. This growth was followed by a period of decline, reaching 46.06 million hours in 2022. In 2023, the sector slightly recovered to 46.61 million hours, achieving a modest year-on-year growth of 1.2%. The last five years averaged a CAGR of -1.64%, indicating a general decline.
Future outlook reveals a slow but steady recovery from 2024 to 2028, with an average annual growth rate forecasted at 0.91%, culminating in a value of 49.34 million hours in 2028. This represents a total growth rate of 4.61% over the five-year forecast period.
Future trends to watch for:
- Economic and policy changes that could enhance or hinder the self-employment landscape in the IT sector.
- The impact of technological advancements and digital transformation on the demand for freelance IT services.
- Shifts in global IT outsourcing trends that might influence the Spanish market.
