The turnover of security systems services in Belgium fluctuated between 2013 and 2023, showing both significant increases and decreases. In 2023, the turnover stood at 238.8 million euros, reflecting a slight annual growth of 0.34% from the previous year. Over the past five years, the CAGR has been modest at 1.23%.
Key trends observed:
- 2013-2014: A substantial decline of 34.44%
- 2015: Continued decrease by 10.3%
- 2016: Recovery with a significant increase of 45.99%
- 2017: Increased sharply by 37.8%
- 2018: Drop by 22.79%
- 2019: Slight decline of 3.61%
- 2020: Major growth spurt of 39.49%
- 2021: Decline by 21.46%
- 2022 and 2023: Stabilized with slight annual increase of 0.34%
Forecasts for 2024 to 2028 suggest stable growth, with projected modest annual increases resulting in a forecasted CAGR of 0.27%. Future trends to watch for include technological advancements in security systems, regulatory impacts, market consolidation, and economic factors affecting public and private sector investments in security infrastructure.
