Spain’s information and communications technology market is projected to grow from USD 62.33 billion in 2025 to USD 67.69 billion in 2026 and USD 97.72 billion by 2031, representing a 7.62% compound annual growth rate between 2026 and 2031. ResearchAndMarkets.com attributes the outlook to cloud adoption, public-sector digitalization, cybersecurity spending, 5G deployment and rising demand for managed IT services. More than 710,000 digitalization vouchers worth EUR 2.9 billion, or about USD 3.44 billion, helped lift SME cloud utilization to 34% in late 2025 by reducing the estimated payback period for software-as-a-service investments from three years to less than 18 months. EU funding is also supporting fiber connectivity, digital government and semiconductor research, while talent shortages, electricity costs and uneven broadband access remain constraints. IT services represented 38.23% of market revenue in 2025, while cybersecurity is forecast to be the fastest-growing category, with an 8.18% CAGR through 2031.