IT Outsourcing - Belgium

  • Belgium
  • The IT Outsourcing market in Belgium is expected to witness significant growth in the coming years.
  • According to projections, the revenue in this market is estimated to reach US$3.80bn in 2024.
  • This growth is further expected to continue with an annual growth rate (CAGR 2024-2029) of 7.36%, resulting in a market volume of US$5.42bn by 2029.
  • Furthermore, it is interesting to note that the average Spend per Employee in the IT Outsourcing market is projected to reach US$700.80 in 2024.
  • This indicates the significant investment and value attributed to IT Outsourcing market services in Belgium.
  • In a global comparison, it is important to highlight that United States is expected to generate the highest revenue in the IT Outsourcing market.
  • It is estimated that United States will generate US$197.30bn in revenue in 2024.
  • This demonstrates the dominant position of the United States in the global IT Outsourcing market industry.
  • Belgium is emerging as a leading destination for IT outsourcing due to its highly skilled workforce and favorable business environment.

Key regions: Brazil, Italy, United States, China, Germany

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

Belgium, a country known for its delectable chocolate, waffles, and beer, has been experiencing a steady growth in the IT Outsourcing market.

Customer preferences:
Belgium, being at the heart of Europe, has a strategic location that makes it an ideal place for companies to outsource their IT services. The country has a highly educated and multilingual workforce, which is a significant advantage for companies that need to communicate with clients from different parts of the world. Additionally, Belgian companies are known for their high-quality services, which are delivered on time and within budget. These factors have made Belgium a preferred destination for IT outsourcing in the European market.

Trends in the market:
One of the significant trends in the IT outsourcing market in Belgium is the shift towards cloud-based services. With the increasing demand for cloud-based services, Belgian companies are investing more in cloud infrastructure and services. This trend is driven by the need for more flexible and scalable IT solutions that can adapt to changing business needs. Another trend in the market is the growing demand for cybersecurity services. As cyber threats become more sophisticated, companies are looking for reliable and secure IT outsourcing partners to help them protect their data and systems.

Local special circumstances:
Belgium has a unique set of circumstances that make it an attractive destination for IT outsourcing. The country has a stable political climate, a highly developed infrastructure, and a business-friendly environment. Additionally, Belgium is home to several international organizations, such as the European Union and NATO, which attract global companies to the country. The presence of these organizations has created a diverse and multicultural workforce that is well-equipped to handle the needs of international clients.

Underlying macroeconomic factors:
Belgium's economy is heavily dependent on exports, which account for more than 80% of its GDP. The country has a highly developed transportation network, which makes it easy to transport goods and services across Europe. Additionally, Belgium has a highly skilled workforce, which is a significant advantage for companies in the IT outsourcing market. The Belgian government also provides tax incentives and other benefits to companies that invest in the country, which has helped to attract global companies to the country.In summary, Belgium's strategic location, highly skilled workforce, and business-friendly environment have made it an attractive destination for IT outsourcing. The growing demand for cloud-based and cybersecurity services is driving the growth of the market, and the country's unique set of circumstances make it an ideal location for companies looking to outsource their IT services.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)