The Value Added of ICT Services in Belgium has demonstrated substantial growth from 2013 to 2023, reaching 1360.0 million euros in 2023. The period from 2019 to 2023 shows an overall increasing trend with moderate year-on-year variations. Specifically, the yearly variations showed a peak growth of 7.57% in 2016, with a noticeable rise in 2017 and 2019 of 17.6% and 16.43% respectively, indicating strong upward momentum. Recent years saw a more steady but slower growth, with a 6.74% increase in 2021 and 2.32% in 2022, tapering to 4.09% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 5.98%, reflecting steady growth in the ICT sector.
Looking forward, forecasted data suggests continuous but decelerating growth through 2028, with a forecasted CAGR of 2.67% indicating a slower, yet positive progression. Watch for technological advancements, policy changes, and economic factors that could influence market dynamics. Ensuring digital transformation and innovation in ICT services will be pivotal to sustaining growth.
