Between 2013 and 2023, Belgium's IT services Gross Value Added (GVA) experienced consistent growth, reaching 14.06 Billion Euros in 2023. The year-on-year variation reflected a robust upward trend, with recent years showing positive increments: 7.62% in 2022 and 7.11% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stood at 8.64%, indicating strong performance and resilience in this sector over the past decade.
Looking forward, forecasted data from 2024 to 2028 project continued growth, albeit at a slower pace. The forecasted 5-year CAGR is estimated at 4.41%, signifying a steady yet slightly moderated increase. By 2028, the GVA for IT services is expected to reach 18.6 Billion Euros, reflecting a 24.06% growth over the forecasted period.
Future trends to watch for:
- Increased digital transformation initiatives across various industries.
- Adoption of emerging technologies such as AI and blockchain.
- Growing demand for cybersecurity and data analytics services.
- Expansion of cloud computing and its associated services.
