From 2013 to 2023, M2M/Embedded Mobile Cellular Subscriptions in Belgium grew significantly, rising from 8.39 to 60.17 Units (Subscriptions) Per Hundred Persons. This growth represents a compound annual growth rate (CAGR) of approximately 22.76% over the past five years. The most substantial year-on-year increase occurred in 2016 with a growth of 37.11%, while 2020 also saw a notable increase of 31.14%. In more recent years, the growth rate has slowed, with a 14.31% increase in 2022 and an 11.83% increase in 2023.
Looking into the forecasted future from 2024 to 2028, the growth is expected to moderate with a projected 5.66% CAGR over the next five years, reaching 87.15 Units Per Hundred Persons by 2028. This forecast suggests a deceleration in growth compared to the previous decade.
Future trends to watch for:
- Technological advancements in IoT and 5G driving new M2M applications.
- Regulatory changes potentially impacting subscription rates.
- Adoption rate among various industries influencing market dynamics.
