The turnover in the manufacture of consumer electronics in Belgium has demonstrated significant variability over the past years. The data reveals a notable growth of 15.71% from 2015 to 2016, followed by a sharp decline of 29.63% in 2017. However, the turnover rebounded significantly in 2018 with a 114.04% increase, only to see another drop by 28.69% in 2019. From 2020 onwards, the industry experienced relatively stable growth, with minor fluctuations, reaching 10.1 million Euros in 2023. The compound annual growth rate (CAGR) for the last five years up to 2023 stood at approximately -1.19%, indicating an overall contraction over this period.
Looking ahead, the forecast predicts a modest annual growth rate with a 5-year CAGR projected at 1.34%, leading to an expected turnover of 10.99 million Euros by 2028. This forecasted growth represents a total increase of 6.87% over the next five years.
Future trends to watch for include advancements in technology, shifting consumer preferences towards smart and connected devices, and the impact of global supply chain disruptions. These factors may influence the market dynamics significantly, potentially driving innovation and variation in turnover figures.
