The Manufacture of Communication Equipment sector in Belgium has experienced fluctuations in the number of employees over the past decades. As of 2023, the sector stood at 1,210 employees. Over the past two years, the sector saw a decline with a year-on-year decrease of 4.44% from 2022 to 2023 and 5.19% from the prior year. Looking further back, the Compound Annual Growth Rate (CAGR) over the past five years was -1.79%. Forecasts suggest a further decline with an expected CAGR of -1.88% over the next five years, indicating a 9.05% total decrease by 2028.
Future trends to watch for in this sector include:
- The impact of technological advancements which could improve productivity but potentially reduce the need for manual labor.
- Changes in global trade policies influencing export-import dynamics, crucial for the industry's workforce needs.
- Potential regulatory changes both at the EU and local level that could affect manufacturing practices and labor requirements.
- Market demand particularly shifts towards more advanced communication equipment driven by consumer behaviors and business requirements.
