Market Trends of belgium data center Industry
Surge in internet banking subscribers and digital inclusion in shopping trends boost the market demand
- The total number of smartphone users in the country was 10.17 million in 2022. It is expected to register a CAGR of 1.43% during the forecast period to reach a value of 11.23 million by 2029.
- The growing digital inclusion in shopping trends drives smartphone penetration in the region. Looking at the country's regional split, predominantly Dutch-speaking Flanders has the highest e-commerce penetration, at 70%, as opposed to 59% in French-speaking Wallonia. A narrow digital divide exists across the two regions regarding the share of enterprises receiving online orders: close to 27% of Flemish companies received online orders in 2021 versus 20% for those based in Wallonia.
- Additionally, Belgium boasts the most bank branches per person in Europe. About 69% of Belgians regularly conduct business online and utilize online banking. In Belgium, there were 14.2 million internet banking subscribers in 2020. Belgian customers are gradually utilizing internet banking in addition to the services offered by their neighborhood bank offices. For instance, the total number of banks with offices in Belgium reached over 3,200 in the Flemish region in 2019. Smartphone use is growing, which puts more strain on the servers that power the devices. The rising use of smart devices generates an ongoing growth in data, necessitating an expansion in storage capacity to accommodate this uncontrollable data flow. The market's preference for smart gadgets necessitates the expansion of data centers.
Understand The Key Trends Shaping This Market
Download Sample
Adoption of FTTx, full fiber and ultrafast broadband is boosting the market demand
- The copper broadband data speed in the country was 175 Mbps in 2022, which is expected to reach a value of 345 Mbps by 2029. The nation will need less copper cable since optic cable has more bandwidth and has shown performance at speeds up to 10 Gbps, allowing network designers to plan for future development in network speeds and requirements. Fiber optic cable also has greater data integrity and capacity than copper wire.
- Since fiber offers uniform performance up to 10 Gbps and beyond, copper's highly constrained bandwidth is more than sufficient for a speech signal. While FTTx is expected to reach 3,265 Mbps in Belgium by 2029, copper is expected to rise by 170 Mbps. Telenet, Versatel, Interkabel, and Proximus (Belgacom) are a few of Belgium's fiber-optic broadband networks. Proximus is a significant telecom firm. By 2022, Belgium will have extended fiber coverage to 95% of its buildings, enabling the delivery of gigabit fiber service. According to the prediction, Belgium's total number of houses served by fiber will soar by 568% by 2027 to reach 3.9 million.
- The expansion of full fiber and ultrafast broadband across the nation, which provides internet speeds of 100 Mbps and greater, has been a major factor in the surge. Although most family needs may be met by superfast internet, the demand for services that consume a lot of data, such as online video streaming, is rising. The necessity for widespread and dependable digital access has been further underscored by the COVID-19 pandemic. Overall, fiber cable has become essential for data center expansion and for connecting them to other data centers and internet exchanges. Therefore, data centers are expected to be supported by strong broadband connectivity across the nation during the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Deployment of 5G and surge in the adoption of OTT SVoD is boosting the data center market
- Government initiative towards national broadband strategy and fixed network investment by telecom companies is boosting the market demand
- High levels of broadband and fiber cable connection along with increase in online gaming and ecommerce purchase shall boost the market demand
