The Value Added of ICT and Information Services in Belgium exhibited a steady growth from 2013 to 2023, increasing from 6.54 billion euros to 11.65 billion euros in 2023. The CAGR over this period demonstrates robust growth, peaking at 8.84% in 2019. Despite a minor deceleration in 2020 with only a 1.04% increase, the sector continued to expand, particularly with a 5.81% rise in 2021. Though the growth rate softened to 3.34% in 2023, the overall trend indicates sustained positive momentum.
Looking ahead, growth is forecasted to persist, albeit at a slightly slower pace with a 5-year CAGR projection of 2.23%. This slower rate still implies a cumulative growth of 11.64% from 2023 to 2028.
Future trends to watch for include:
- Greater integration of emerging technologies like AI and IoT into the ICT landscape.
- Potential impacts of regulatory changes and digital transformation initiatives.
- Shifts in market dynamics driven by the evolution of remote work and digital services demand.
- Increased investments in cybersecurity improving the trust and continued growth of ICT services.
