The production volumes of ICT and Information Services in Belgium exhibited steady growth from 2013 to 2019, peaking at 21.35 billion Euros. Despite a slight dip to 20.55 billion Euros in 2020 due to global disruptions, the sector quickly rebounded, reaching 23.88 billion Euros by 2023. Year-on-year growth varied significantly, with notable increases in 2017, 2018, and 2021, contrasted by a modest decline in 2020. The CAGR over the last five years stood at 4.06% by 2023. Forecasts suggest continued growth, albeit at a slower pace, with a projected CAGR of 2.33% from 2024 to 2028, reaching 27.75 billion Euros.
Future trends to watch for include:
- Acceleration in digital transformation and automation.
- Increasing demand for cybersecurity services.
- Growth in cloud computing and data analytics.
- Potential market disruptions from emerging technologies like AI and IoT.
- Regulatory and policy changes impacting the ICT sector.
