The IT services output in Belgium has shown a consistent upward trajectory over the past decade, starting from 13.39 billion euros in 2013 to 32.99 billion euros in 2023. From 2024 onwards, values are forecasted, reflecting continuous growth up to 47.76 billion euros in 2028. The annual growth rate presents itself variably, with an average Compound Annual Growth Rate (CAGR) of 10.61% over the last five years (2019-2023). The forecasted CAGR for the period 2023-2028 stands at 5.82%, indicating sustained, albeit moderate growth.

Key year-on-year variations worth noting:

2020: 7.53%
2021: 13.15%
2022: 11.37%
2023: 9.79%

Future trends to watch for:

Technological advancements in artificial intelligence and machine learning.
Growing demand for cloud computing and cybersecurity services.
Expanding digital transformation initiatives across various sectors.
Opportunities and challenges presented by the growing need for data analytics and management services.