Figure of the day: Application Services in Belgium
According to PAC, Application-related services (consulting, system integration, training and application management) will generate a €2.7bn market in 2021 in Belgium, making it the ninth largest market in Western Europe. Following a substantial 9% decline in 2020 (more or less the European average), Belgium is expected is expected to rebound in 2021 and accelerate in the coming years, thus exceeding the 2019 level in 2023.
Belgium represents the second largest among the Benelux markets, generating 34% of the region, behind the Netherlands (61%) and well ahead of Luxembourg (5%). Belgium benefited from its industry mix (strong public sector, among others, with the European commission); however the market lacks large domestic customers.
More details in our market figures & forecasts on our research platform SITSI: