The Gross Income of IT Services in Belgium has shown a steady growth from 2013 to 2023, starting at €124.2 million in 2013 and reaching €189.2 million in 2023. The gross income recorded a significant spike of 14.57% in 2014, but subsequent years showed a more moderate and steady increase. In the last two years, the growth has slowed down slightly with a 2.61% increase in 2022 and a 2.33% increase in 2023. Over the past five years, the compound annual growth rate (CAGR) has averaged around 3.03%.
For the forecasted period from 2024 to 2028, the growth rate is expected to moderate further with a five-year CAGR of approximately 1.36% and an overall growth of 6.98% by 2028. This indicates a cautious but steady growth trajectory for the industry.
Future trends to watch for include:
- Increased adoption of emerging technologies like AI and IoT driving demand for specialized IT services.
- Potential market impacts from global economic conditions and technological advancements.
- The influence of government policies and incentives aimed at boosting the IT sector.
- Shifts towards cloud computing and cybersecurity solutions as businesses prioritize digital transformation and data protection.
