Compound annual growth rate for technology and telecommunications in Europe 2023
Compound annual growth rates can be used to measure a number of different factors including revenue as in this example, but also income, customers, returns etc. As of January 2023, the CAGR in revenues over the last five years for the technology and telecommunications sector in Western Europe have been highest in the software (system & application) industry (19.15 percent).
In terms of expected growth between 2023 and 2024, the best performing industry was software (system & application), with revenues expected to grow by approximately 25.8 percent.