NEW YORK, July 24, 2024 /PRNewswire/ -- The information
technology (IT) market size in Chile is estimated to grow by USD 4.76 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 9.59%
during the forecast period. Increased adoption of cloud-based
services is driving market growth, with a trend towards emergence
of AI. However, data privacy and security risk in cloud-based
services poses a challenge. Key market players include
Accenture Plc, ADEXUS S.A, Alphabet Inc., Amisoft, Atos SE,
Cisco Systems Inc., Dassault Systemes SE, Deloitte Touche Tohmatsu
Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co.,
Infosys Ltd., International Business Machines Corp., Microsoft
Corp., NetApp Inc., Oracle Corp., SAP SE, Schneider Electric SE,
SONDA S.A., Tata Consultancy Services Ltd., and Verizon
Communications Inc..
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Information
Technology (IT) Market In Chile Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.59%
|
Market growth
2024-2028
|
USD 4769.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.53
|
Regional
analysis
|
Chile
|
Performing market
contribution
|
South America at
100%
|
Key
countries
|
Chile and South
America
|
Key companies
profiled
|
Accenture Plc, ADEXUS
S.A, Alphabet Inc., Amisoft, Atos SE, Cisco Systems Inc., Dassault
Systemes SE, Deloitte Touche Tohmatsu Ltd., HCL Technologies Ltd.,
Hewlett Packard Enterprise Co., Infosys Ltd., International
Business Machines Corp., Microsoft Corp., NetApp Inc., Oracle
Corp., SAP SE, Schneider Electric SE, SONDA S.A., Tata Consultancy
Services Ltd., and Verizon Communications Inc.
|
Market Driver
Chilean enterprises are integrating Artificial Intelligence (AI)
into their IT services to automate processes, enhance efficiency,
and reduce costs associated with paperwork. AI improves information
services by categorizing and tagging data, applying structure to
unstructured data, streamlining information, enhancing security,
and improving data quality. In October
2021, Chile presented its
National Policy on AI, which serves as a roadmap for AI development
and adoption. This trend is expected to boost the IT market in
Chile by increasing the efficiency
of vendors and driving growth during the forecast period.
The Information Technology market in Chile is experiencing significant growth,
driven by trends such as cloud computing, machine learning, and big
data. Businesses and organizations in various sectors like
hospitals, banks, shops, prisons, hotels, airports, and train
stations are increasingly adopting IT solutions for automation and
data analytics. The IT industry is innovating at a rapid scale,
with a focus on database management, software AI, and 5G network
rollout. According to market analysts, the technological industry
in Chile is expected to grow, with
an emphasis on cybersecurity due to the rise in cyberattacks. The
government is providing support through initiatives like the
Internet of Things and Chile Hardware and Chile Personal Computer
projects. The IT sector is also seeing the integration of computers
and internet into daily life, leading to increased private and
government consumption. Data centers and libraries are becoming
essential for effective database management. Overall, the IT market
in Chile is poised for growth and
innovation.
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Market Challenges
- The IT market in Chile faces
significant challenges in the adoption of cloud services due to
data privacy and security risks. Cloud security management is a
complex task for vendors, as online data needs to be secured from
unauthorized access to cloud-based infrastructure. Public cloud
infrastructure, with its multi-tenant architecture and shared
resources, is particularly vulnerable to cyber-attacks. Hackers can
easily gain access to cloud-based data storage systems, putting
organizations at risk. Vendors must encrypt clients' data and
implement multi-factor authentication systems to secure access to
IT systems. Regulatory guidelines for cloud security management
should also be followed. The ease of procuring and accessing cloud
services can provide hackers with opportunities to exploit
loopholes and vulnerabilities. The increasing adoption of cloud
services in Chile over the past
few years has led to a rise in cybersecurity threats. In
August 2022, a Chilean government
agency experienced a ransomware attack targeting Microsoft tools
and VMware ESXi servers. To mitigate these risks, vendors must
prioritize data privacy and security in their cloud offerings.
- The Chilean IT market is thriving, with key sectors like
hospitals, banks, shops, prisons, hotels, airports, and train
stations investing heavily in IT. Database management and libraries
are essential for effective data handling. Challenges include
ensuring cyber security for sensitive information. Government
consumption, private consumption, and telecommunication services
drive market growth. The Internet of Things (IoT) is transforming
industries, requiring advanced IT infrastructure and 5G network
support. Chile's hardware sector
includes companies like Chile Hardware and Chile Personal Computer.
IT investments in software, IT services, and ICT market segments
continue to grow. Digital technology trends include artificial
intelligence, robotics, and cyber security. Internet penetration
and broadband consumption are increasing, fueling the demand for IT
solutions. Government support for IT development is crucial for
continued growth. Overall, the Chilean IT market offers significant
opportunities for businesses and investors.
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Segment Overview
This information technology (it) market in Chile report extensively covers market
segmentation by
- Type
- 1.1 Services
- 1.2 Hardware
- 1.3 Software
- End-user
- 2.1 BFSI
- 2.2 IT and telecom
- 2.3 Government
- 2.4 Healthcare
- 2.5 Others
- Geography
1.1 Services- The IT services market in
Chile encompasses consulting,
learning and training, development and integration, hardware
maintenance and support, IT management, process management, and
software support. The consulting and software maintenance and
support services segments are poised for growth due to the need for
improved business delivery systems and cost-effective models. The
shift from on-premises to cloud-based software and IT
infrastructure deployment is another significant factor driving
market expansion. Enterprises in Chile are adopting cloud-based services to
modernize their businesses and leverage technologies like Big Data,
AI, and IoT. This digital transformation is expected to boost the
demand for IT services, including education and training, during
the forecast period.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
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innovative product development and expanding distribution channels
to cater to a broader audience. Meanwhile, the global Information
and Communications Technology (ICT) Services in Education Market is
rapidly evolving with the integration of advanced technologies in
educational systems. This market is driven by the demand for
enhanced learning experiences, digital transformation in education,
and government initiatives supporting ICT adoption in schools and
universities.
Research Analysis
The Information Technology (IT) market in Chile is experiencing significant growth,
driven by increasing demand for digital transformation across
various industries. The market encompasses ICT (Information and
Communication Technology) sectors, including hardware, software, IT
services, and telecommunication services. Chile's IT industry is witnessing substantial
investments in digital technology, with a focus on cyber security,
artificial intelligence, robotics, and automation. The enterprise
size spectrum, from small to large, is embracing IT solutions to
streamline operations and enhance productivity. Chile's cybersecurity landscape is evolving,
with growing concerns over data privacy and protection. The rollout
of 5G networks is expected to revolutionize the IT industry,
boosting broadband consumption and cloud computing adoption. Data
analytics, machine learning, big data, and data center solutions
are gaining traction, fueled by the increasing availability of data
and the need for actionable insights. The IT industry is also
grappling with cyberattacks, emphasizing the importance of robust
security measures. Analysts predict continued growth in IT
investments, IT infrastructure development, and technological
innovation in Chile.
Market Research Overview
ai_research_analyst_overview
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Services
- Hardware
- Software
- End-user
-
- BFSI
- IT And Telecom
- Government
- Healthcare
- Others
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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