An estimated 500 jobs were lost in Ireland by 2015 as a result of digital piracy.
Around €320m in revenue was lost, while VAT receipts could have dropped by as much as €71m because of pirated music or movies.
The research was carried out by Grant Thornton in a report, which has said it is concerned that the extent of illegal downloading continues to impact heavily.
The report also raises concerns about outdated legislation and enforcement activity that it has said does little to protect the sector.
It is estimated that all illicit trade costs the Irish economy €2.3bn every year.