The value added of IT services in Portugal showed a strong upward trend from 2013 to 2023, increasing from 1.75 billion Euros to 6.03 billion Euros. The year-on-year growth rate has shown substantial fluctuation, with notable peaks in 2017 (16.29%) and 2019 (23.4%). Over the last five years leading up to 2023, the CAGR stood at 16.09%, indicating a robust and steady growth trajectory.

Looking forward, from 2023 to 2028, the average annual growth rate is forecasted at 6.05%, with an expected total growth rate of 34.15% over these five years. This suggests that while growth may moderate compared to previous years, it will continue to show a healthy increase.

Future trends to watch for:

Impact of emerging technologies such as AI, blockchain, and IoT on the IT services market.
Increased digital transformation of various industries in Portugal.
Potential influence of regulatory changes and government policies on the sector.
The role of IT services in supporting remote work and digital infrastructure post-pandemic.