Over the period from 2013 to 2023, the production value of security systems services in Belgium has shown notable volatility, with significant year-on-year variations. There were sharp declines in 2014 and 2015, a significant rebound in 2016 and 2017, and further substantial growth leading up to 2020. The production value in 2023 stood at 253.7 million euros, reflecting a stable growth trajectory with a modest year-on-year increase of approximately 1.4% from the previous year.
In analyzing trends over the last five years, we observe a mixed pattern with periods of substantial growth and declines. Notably, the value saw a peak in 2020 followed by a decrease in 2021, showcasing the sector's susceptibility to fluctuations. The Compound Annual Growth Rate (CAGR) over the past five years (2018-2023) is modest, at about 2.35%.
Looking ahead, forecasted data from 2024 to 2028 indicate a more stabilized growth trajectory, with the production value anticipated to reach 270.9 million euros by the end of 2028. The forecasted five-year CAGR stands at approximately 1.04%, suggesting a gradual yet steady increase in production value over this period.
Key future trends to watch for include technological advancements in security systems, integration with smart home technologies, and a possible increase in demand driven by heightened security concerns. Additionally, regulatory changes and economic conditions could significantly impact the growth and stability of the sector.
