The computer programming and consultancy services output in the US has shown a general upward trend from 2013 to 2023. As of 2023, the output value was at $590.95 billion, reflecting a significant growth over the past decade. From 2013 to 2023, year-on-year variations ranged from as low as 0.98% to as high as 9.45%, indicating variable but overall positive annual growth. Notably, the compound annual growth rate (CAGR) for the past five years (2019-2023) was 4.47%, demonstrating a steady increase in the industry's value.
Looking forward, the forecasted growth for the coming five years (2024-2028) shows a slower pace with an anticipated CAGR of 2.63%, which equates to a total projected growth rate of 13.88% by 2028.
Future trends to watch for include:
- Emerging technologies such as AI, machine learning, and blockchain driving new demand for advanced programming skills.- Increasing need for cybersecurity and data protection services.- Shift towards remote and hybrid working models continuing to influence consultancy service demands.- Growing emphasis on sustainability and green IT solutions as part of consultancy services.
