Over the past ten years, Belgium's software publishing industry has seen substantial fluctuations. After a steady decline from 2013 to 2015, the industry witnessed a dramatic resurgence, peaking at CHF 385.6 million in 2019, followed by some volatility. As of 2023, the production stood at CHF 456.7 million. The last two years witnessed moderate growth, yielding year-on-year increases of 5.25% in 2023. The five-year CAGR leading up to 2023 was 9.27%.
Looking ahead, the forecast for the next five years shows a continued upward trajectory, albeit at a slower pace, with a projected five-year CAGR of 3.61%. Market researchers should watch out for the following future trends:
• Increasing investment in R&D and innovation
• Expansion of cloud-based solutions
• Adoption of AI and machine learning in software applications
• Growth of cybersecurity software demand
