Computing - Colombia

Colombia

Highlights

Colombia's Computing market is projected to generate a revenue of US$1.4bn in 2024.
This market segment is expected to experience an annual growth rate of 1.44% (CAGR 2024-2029).
When compared globally, China leads in revenue generation, with an estimated US$41.2bn in 2024.
In terms of per capita revenue, each person in Colombia is expected to contribute US$26.17 to the Computing market in 2024.
The volume of the Computing market is projected to reach 21.5m pieces by 2029.
However, there is a slight decrease in volume growth expected for 2025.0, with a rate of 0.6%.
On average, each person in Colombia is estimated to contribute a volume of 0.4pieces in the Computing market in 2024.
Colombia's computing market is experiencing a surge in demand for cloud computing services, driven by the need for flexible and scalable IT infrastructure solutions.

Key regions:

Definition:

The Computing segment refers to the devices that are used to perform a variety of computing functions, including data processing, communication, and storage. Examples include tablets, laptops, desktop PCs, monitors, keyboards, printers, and storage units. These devices typically consist of hardware components, such as processors, memory, and storage, as well as software components that enable the device to run specific applications or perform certain tasks. Computing devices are used in a wide range of settings, from personal use to business and scientific applications. The technology driving computing devices continues to evolve, with innovations in areas such as processing power, battery life, and connectivity.

Structure:

The Computing segment can be broken down into several product categories:

Tablets: These are portable computing devices with a touch screen interface, offering a range of capabilities beyond basic computing, including internet access, multimedia capabilities, and wearable technology.
Laptops: These are portable computing devices that offer a range of capabilities beyond basic computing, including internet access, multimedia capabilities, and wearable technology.
Desktop PCs: These are traditional computing devices that are typically larger and more powerful than laptops or tablets, offering a range of capabilities beyond basic computing, including internet access, multimedia capabilities, and wearable technology.
PC Monitors & Projectors: These are devices used for display of computing devices, offering a range of display capabilities, from basic to high-definition displays.
Keyboards: These are input devices used with computing devices, offering a range of styles and functionalities, from basic typing to advanced multimedia capabilities.
Printers & Copiers: These are devices used for printing and copying, offering a range of functionalities, from basic black and white printing to advanced color printing.
Storage Units: These are devices used for storing and retrieving digital information, including hard drives, flash drives, and memory cards.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Apple, HP, Dell, Lenovo, and ASUS. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

In the year 2022, the Computing segment experienced a slowdown in growth due to factors such as rising inflation, higher energy prices, and the rebound in consumption from the previous years. The global revenue for the Computing segment in 2022 was US$291 billion, a 5.7% decrease from the previous year.

The computing segment is highly competitive, and companies must continue to innovate to stay ahead of the competition. Advancements in hardware technology, such as the integration of AI and 5G, are expected to drive growth in the market as consumers seek devices that can perform advanced tasks. Also, the gaming industry is experiencing significant growth, and this is expected to drive demand for high-performance gaming laptops and desktops. As a result, manufacturers are focusing on offering premium features, such as high-resolution displays, fast processors, and long battery life, to attract consumers. In terms of market leaders, we believe that established tech giants like Apple, Lenovo, HP, and Dell will continue to dominate the market, due to their strong brand recognition and product offerings.

With regards to further market growth in the computing segment, we expect certain trends to further increase the demand of products in the market such as the growing remote and hybrid work trend, the increasing popularity of gaming hardware, and the growth of the middle class in emerging markets such as India and China. With these trends revolutionizing a world which is becoming more and more digital and connected, the computing segment will remain one of the most dynamic and rapidly evolving industries.

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. 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 S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.