Other IT Services - South America

South America

The Other IT Services market in South America is predicted to generate a revenue of US$11.76bn by 2024.
This represents a significant growth potential for the market in the region.
Furthermore, it is expected to exhibit a compound annual growth rate (CAGR) of 3.37% from 2024 to 2029, resulting in a market volume of US$13.88bn by 2029.
This growth rate indicates a positive trend for the Other IT Services market in South America.
In terms of spending, the average Spend per Employee in the Other IT Services market is projected to reach US$56.90 in 2024.
This figure highlights the level of investment per employee within the industry.
When compared to other countries globally, United States is expected to generate the highest revenue in the Other IT Services market, with a projected figure of US$151.10bn in 2024.
This demonstrates the significant market dominance of the United States in this particular segment.
Overall, the Other IT Services market in South America shows promising growth potential, with a positive revenue projection and a strong average Spend per Employee.
However, it is important to note that United States remains the global leader in terms of revenue generation in this market segment.
In South America, the market for Other IT Services has seen a significant rise due to the growing demand for cloud computing solutions in the region.

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

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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.