The production value of private security services in Belgium has shown a consistent upward trend from 2013 to 2023, with a notable dip in 2020 likely due to the COVID-19 pandemic. As of 2023, the industry stands at 1,390 million euros, reflecting a 3.22% year-on-year increase. The Compound Annual Growth Rate (CAGR) over the last five years is 3.3%, indicating steady growth.
Over the next five years, the forecast suggests a slower but continued expansion with a CAGR of 2.23%, predicting the production value to reach 1,600 million euros by 2028. Cumulative growth over this period is expected to be 11.64%.
Future trends to watch for include the increasing integration of technology in security services, the growing importance of cybersecurity alongside traditional physical security, and potential regulatory changes impacting the industry landscape.
