Industry revenue of »other software publishing« in Belgium 2011-2023

With a skilled workforce, strategic location in the EU and a stable political and economic climate, Belgium has one of the most dynamic ICT sectors in the region. In fact its IT-consulting and implementation services market is expected to cumulatively value 1.8 billion U.S. dollars over the six year period leading up to 2021. This is probably why the country’s other software publishing market is estimated to increase at a rapid pace over the next few years, while other mature markets such as Germany and Norway witness sluggish or no growth. Market revenues are expected to almost double from 190.7 million U.S. dollars in 2016 to 374 million U.S. dollars in 2023.

Business software is the largest segment by far

The Belgian market for business software is the highest among other sub-categories such as security, creative and collaborative, with revenues estimated to increase from 419 million U.S. dollars in 2016 to around 585 million U.S. dollars in 2021.

Software companies dominate technology landscape

Three of the top five technology companies in Belgium including GuardSquare (1), Silverfin NV (3) and Teamleader (5) are providers of software services.

Industry revenue of »other software publishing« in Belgium from 2011 to 2023

Revenue in million U.S. Dollars
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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Belgium. The industry “other software publishing“ has the code “J5829“.

Details on the methodology can be found here.

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