Over the last decade, the production of ICT services in Belgium has shown a consistent upward trend with some fluctuations. Starting from a value of 1.37 billion euros in 2013, it reached 2.65 billion euros by 2023. The highest year-on-year growth observed was in 2019 at 21.09%, while 2016 saw a slight decline of -3.15%. The last two years prior to 2024 show moderate growth rates of 2.31% in 2022 and 4.09% in 2023. The five-year CAGR has been 6.58% up to 2023.
Future forecasts predict a continued increase in the production of ICT services, expected to reach 3.19 billion euros by 2028. The forecasted five-year CAGR is 2.93%, with an overall growth rate of 15.51% over the same period. This indicates a steady but modest growth trajectory.
Future Trends to Watch:
- Integration of Artificial Intelligence and Machine Learning in ICT services.
- Increased focus on cybersecurity and data protection.
- Expansion of cloud computing services and infrastructure.
- Growth in remote work technologies and collaboration tools post-pandemic.
- Advancements in 5G and subsequent adoption of IoT technologies.
