IT Consulting & Implementation - South America

South America

Revenue in the IT Consulting & Implementation market is projected to reach US$1.66bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.71%, resulting in a market volume of US$2.09bn by 2029.
The average Spend per Employee in the IT Consulting & Implementation market is projected to reach US$8.04 in 2024.
In global comparison, most revenue will be generated in the United States (US$27,220.00m in 2024).

Key regions: Brazil, Netherlands, Spain, Italy, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The IT Consulting & Implementation market in South America has been growing steadily over the past few years, driven by several factors that are unique to the region.

Customer preferences: South American customers have shown a strong preference for IT consulting and implementation services that are tailored to their specific needs. This has led to an increase in demand for local IT service providers who have a deep understanding of the local market and can provide customized solutions that meet the unique needs of South American businesses.

Trends in the market: One of the key trends in the IT Consulting & Implementation market in South America is the increasing adoption of cloud-based solutions. This trend is being driven by the need for businesses to be more agile and flexible in the face of changing market conditions. As a result, IT service providers in South America are increasingly offering cloud-based solutions that can be easily customized to meet the needs of their clients. Another trend that is driving growth in the IT Consulting & Implementation market in South America is the increasing focus on cybersecurity. With the rise of cyber threats and the increasing importance of data privacy, businesses in South America are looking for IT service providers who can help them protect their data and ensure the security of their networks. As a result, IT service providers in South America are increasingly offering cybersecurity services as part of their consulting and implementation offerings.

Local special circumstances: One of the unique aspects of the IT Consulting & Implementation market in South America is the diversity of languages and cultures in the region. This can make it challenging for IT service providers to provide services that are tailored to the needs of each individual client. As a result, many IT service providers in South America are investing in local talent and building teams that can provide services in multiple languages and understand the unique cultural nuances of each country in the region.

Underlying macroeconomic factors: The IT Consulting & Implementation market in South America is being driven by several underlying macroeconomic factors, including the increasing adoption of technology in the region, the growth of the digital economy, and the increasing importance of data and analytics in business decision-making. Additionally, the COVID-19 pandemic has accelerated the adoption of technology in South America, as businesses have been forced to adapt to remote work and digital solutions. As a result, IT service providers in South America are seeing increased demand for their services as businesses look to modernize their IT infrastructure and stay competitive in the digital age.

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.