Saturday, May 31, 2014

Brazilian IT market grew by 15.4% in 2013

The Brazilian IT industry grew by 15.4% in 2013 reaching revenue of 61.6 billion dollars, according to a study ( ) done by IDC for the Brazilian Association of Software Companies ( ABES) and released on 23 May. The 2013 investment in IT places Brazil as the largest market accounting for 47.4% of Latin America and the seventh largest in the world.Investment in software and services in 2013 amounted to 25.1 bn $ growing by 10.1% from the previous year. Of this,  software represented 10.7 bn $ and services 14.4 bn $. It is interesting to note that micro and small enterprises accounted for 43.9 and 49.6% of the software and services market. Financial sector bought 26.3% of the software and services followed by telecom with 24.4% and manufacturing 20.2%.In 2014 investment in cloud computing is expected to reach 560 m $ and in Big Data 394 m $.

The growth of IT industry by 15.4%  in 2013 and 14.5% in 2013 is significant considering the fact that Brazilian GDP growth had slowed down to 2.3 % in 2013 and 1 % in 2012.

This is good news for the ten Indian IT companies which have established operations in Brazil.

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