In 2024, Cyprus leads European IT services output at 8.9%, followed by Estonia with 6.2%, while Greece lags at 0.9%. The largest year-on-year growth was in Bosnia and Herzegovina at 14.87%, Estonia at 15.63%, and Croatia at 11.27%. However, Italy saw a slight decline of 1.08%. Countries like Cyprus (14.11%) and Portugal (12.3%) also experienced notable growth. Established markets such as Germany (4.4%) and France (2.38%) demonstrated modest increases.
Future trends to watch include:
- Continued growth in emerging IT markets such as Bosnia and Herzegovina and Macedonia.
- Potential for stabilization or further decline in traditionally strong markets like Italy.
- Focus on innovation and digital transformation may drive growth in smaller markets.
Top countries in IT Services Output by Country
| # | 10 Countries | Percent of Total | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Cyprus | 8.9 | 2023 | +11.25% | +14.11% | View data |
| 2 | 2 Estonia | 6.2 | 2023 | +10.71% | +15.63% | View data |
| 3 | 3 Sweden | 5 | 2023 | +2.04% | +4.56% | View data |
| 4 | 4 Bulgaria | 4.2 | 2023 | +5% | +7.69% | View data |
| 5 | 5 Romania | 4 | 2023 | +5.26% | +9.86% | View data |
| 6 | 6 Netherlands | 3.5 | 2023 | +2.94% | +2.46% | View data |
| 7 | 7 Lithuania | 3.2 | 2023 | +10.34% | +12.2% | View data |
| 8 | 8 Finland | 3.2 | 2023 | +3.23% | +2.71% | View data |
| 9 | 9 Iceland | 3.1 | 2023 | +3.33% | +1.34% | View data |
| 10 | 10 Latvia | 3.1 | 2023 | +3.33% | +6.15% | View data |
