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Brazil IT market expected to grow fast as government ups spending

Press release August 14, 2014 Brazil it industry, brazil it market, it industry in brazil

This report covers the present scenario and the growth prospects of the IT market in Brazil for the period 2014-2018.

Brazil hopes to capitalize on the 2014 World Cup and the 2016 Summer Olympics to advance its goal of becoming the world's third largest information technology and communications (ITC) market, according to recent research. The Brazil IT market is expected to grow at a CAGR of 10.12% from 2014-2018.

This report, IT Market in Brazil 2014-2018, provides a detailed analysis of the market and focuses on the growth trends, major players, recent developments and key drivers of the IT market in Brazil.

Market overview

Currently, the major reason behind the exponential growth of the IT market in Brazil is the rapid growth of the software and IT services market segment. The hardware segment is also expected to witness increased spending due to growth in the use of tablets and data servers over the forecast period. Currently, the Brazil IT market ranks fifth in the world and is worth around USD 210 billion. Experts coin that the World Cup and the 2016 Summer Olympics will act as a boon for Brazil and for the ITC industry, as the government is slated to invest billions of dollars in a wide range of infrastructure projects. The infrastructure being developed will be used subsequently for the benefit of health, development and broadband communications. Research has shown major sporting events will generate investment of about USD 57 billion, of which 10% will be devoted to IT, either directly in data and image transmission systems, and indirectly, in areas such as security, health care, transportation, infrastructure. The Brazilian IT industry currently has two million professionals.

Key players

The key players in this industry include Accenture Inc., Hewlett-Packard Co., IBM Corp., Xerox Corp., Ascenty Data Centers Rental and Services SA, Capgemini S.A., Cisco Systems Inc., CI&T Software S.A., Dell Inc., Elipse Software, Google Inc., ICTS Consulting Services, Kryptus Information Security Ltda., Lenovo Group Ltd., Microsoft Corp., Predicta, SAS Institute Inc., Stefanini IT Solutions, Syhunt Cyber-Security Co. and Serpro, Sydle System.

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Brazil it industry, brazil it market, it industry in brazil