Colombia's IT market has growth potential as the economy strengthens over the medium termbecause of relatively low penetration of devices and solutions, but the hardware segment is now on a lowertrajectory than earlier developers because of competition from smartphones. Meanwhile, the local softwareand services industry has solid momentum and received a boost to competitiveness in 2015 and 2016 as aresult of peso depreciation.
Latest Updates And Industry Developments
IT Hardware Sales: COP3.68trn in 2017, rising to COP4.16trn by 2021, at a compound annual growthrate (CAGR) of 3.1%. There is pent-up demand but the extent of the rebound as the economy strengthenswill be limited by the cannibalisation of tablet and low-end notebook spending by smartphones.
Software Sales: COP1.51trn in 2017 to COP2.12trn by 2021, at a CAGR of 8.8%. Investments by highvalue verticals such as financial services, ICT and retail will boost the software growth rate, especiallyfor application software.
IT Services Sales: COP2.80trn in 2017 to COP3.77trn in 2021, at a CAGR of 7.7%. There is potentialfor wider adoption of core services such as consulting, as well as newer technologies such as cloudcomputing.