Other IT Services - LATAM

LATAM

The Other IT Services market in LATAM is forecasted to achieve a revenue of US$18.48bn in 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of 3.25%, resulting in a market volume of US$21.68bn by 2029.
In terms of the average Spend per Employee in the Other IT Services market, it is expected to reach US$59.81 in 2024.
When compared globally, United States is expected to generate the highest revenue, amounting to US$151.10bn in 2024.
The demand for Other IT Services in LATAM is growing rapidly, driven by increased digitalization efforts and the need for technological advancements in various industries.

Key regions: China, United Kingdom, Germany, Netherlands, India

Market

Region

Region comparison

Currency

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.