The turnover of private security services in Belgium witnessed substantial growth from 867.3 million euros in 2013 to 1360.0 million euros in 2023. This represents a year-on-year variation that peaked in 2016 with an increase of 15.75%, followed by smaller yet positive changes in subsequent years. Notably, there was a dip in 2020 with a decrease of 6.27%, likely influenced by the COVID-19 pandemic. However, the industry rebounded quickly in the following years. The compound annual growth rate (CAGR) over the last five years stood at 3.01%, indicating steady progress.

Forecasts for 2024 and beyond suggest continued growth, with the turnover expected to reach 1550.0 million euros by 2028. The forecasted five-year CAGR is 2.09%, suggesting a moderate yet consistent upward trend.

Future trends to watch for:

Enhanced demand for advanced technological security solutions such as AI and surveillance.
Increasing emphasis on cybersecurity measures to complement traditional security services.
Potential regulatory changes that could impact operational protocols and costs.