Between 2013 and 2023, the IT services output in Belgium experienced robust growth, increasing from 13.39 billion Euros to 33.03 billion Euros. The year-on-year variation saw notable peaks in 2017 (12.14%), 2018 (11.97%), and 2021 (13.15%). The compound annual growth rate (CAGR) for the period from 2018 to 2023 stood at 10.64%. The projection for 2024 is 36.07 billion Euros with a forecasted 5-year CAGR of 5.84%, suggesting a more moderate, yet continued, growth.
Future trends to watch for include:
- Increased adoption of cloud computing and AI solutions driving demand.
- Growth in cybersecurity services due to the rising number of cyber threats.
- Continued digital transformation initiatives across various industries.
- Impact of regulatory changes and economic conditions on IT service spending.
