The output of computer programming and consultancy services in Australia showed a robust growth trajectory from 2013 to 2023, reaching 79.88 billion AUD in 2023. The sector experienced strong annual growth, particularly notable in 2018 with a 13.51% increase. In more recent years, growth was steadier with a year-on-year increase of 3.9% in 2023. Over the last five years ending in 2023, the compound annual growth rate (CAGR) was 4.65%. Forecasted values from 2024 to 2028 show continued growth albeit at a lower average rate of 2.29% per year, reaching 92.63 billion AUD by 2028.
Future trends to watch for:
- Increased adoption of artificial intelligence and machine learning services.- Growing demand for cybersecurity consultancy.- Expansion of cloud computing and related consultancy services.- The impact of digital transformation initiatives across various sectors.- Potential market disruptions from emerging technologies and startups.
