The value added of software publishing in Belgium has seen significant fluctuations over the past decade, starting at €17.4 million in 2013 and reaching €223.5 million by 2023. The sector experienced rapid growth from 2016 onwards, with a notable spike of 480.38% in 2016, followed by steady increases from 2019 to 2023 with a CAGR of 9.3%. Future forecasts predict a moderate yet consistent growth rate with a CAGR of 3.21% over the next five years, leading to an estimated €274.43 million in 2028.

Future trends to watch for:

Increasing demand for cloud-based solutions and software-as-a-service (SaaS) offerings.
Expansion in cybersecurity and data protection software due to evolving regulatory requirements.
Growth in artificial intelligence and machine learning applications within software products.
Rise in mobile application development driven by ubiquitous smartphone usage.
Continued mergers and acquisitions activity to consolidate market share and expand capabilities.