Brazil Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)

Brazil Enterprise ICT Market Overview

The Brazil enterprise ICT market size was pegged at over $85 billion in 2022 and is expected to grow at a CAGR of more than 17% during 2022-2027 to reach over $192 billion in 2027. The market growth is driven by its rising need for software, which is giving software digitalization more importance to modernize systems, automate procedures, embrace software-defined solutions, and enhance IT infrastructure.

Brazil Enterprise ICT Market Outlook, 2022-2027 ($ Billion)

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The ‘Brazil Enterprise ICT Country Intelligence Report’, a new Country Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2023 and GlobalData’s Market Opportunity Forecasts to 2027: Brazil. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the country in 2023 compared to 2022 and ICT revenue opportunity with detailed forecasts of key indicators up to 2027. The report provides a detailed analysis of the overall Brazil enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts.

The report also discusses the market growth inhibitors impacting Brazil’s overall ICT market. It focuses on enterprise ICT budget allocations and ICT revenue opportunities covering 18 solution areas, segmental analysis, vertical analysis, review of key macroeconomic and regulatory trends, and government initiatives. The report also includes a brief profile of some of the key ICT vendors within the country.

Brazil Enterprise ICT Revenue Opportunity - Segment Analysis

GlobalData’s survey findings suggest that the enterprise ICT budget allocations across all ‘services’ categories in Brazil have increased in 2023 compared to 2022. More than 57% of respondents confirmed an increase in their enterprise ICT budget for overall ‘services’ in 2023 compared to 2022.

According to GlobalData, Brazil’s ICT market would see the majority share of its revenue come from the IT services segment over the forecast period. The report also discusses the enterprise ICT revenue opportunity across IT software and IT hardware segments over the forecast period.

• IT Services
• IT Software
• IT Hardware

Brazil Enterprise ICT Market Share by Segment, 2022 (%)

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Brazil Enterprise ICT Market Segmentation by IT Solution

The Brazil enterprise ICT country intelligence report offers ICT revenue market indicators across the following IT services solution areas:

• Cloud Computing Services
• Consulting & Integration Services
• Business Process Outsourcing Services
• Networking Services
• Application Development and Management Services
• Internet of Things (IoT) Services
• Communications and Collaboration Services
• Client Computing Services
• Data Center and Hosting Services
• Security Services
• Storage Services
• Server Services
• Artificial Intelligence (AI) services
• Mobility Services
• Edge Computing Services

Cloud computing is the most attractive market in Brazil, driven by the government’s ongoing commitment to large-scale cloud adoption. The revenue opportunity for cloud computing in Brazil was pegged at over $12 billion in 2022 and is estimated to grow at a CAGR of more than 27%. Cloud computing is being used by Brazilian companies of all kinds and industries to increase agility, save costs, foster innovation, and accelerate growth, particularly in the manufacturing, healthcare, and BFSI sectors.

Brazil Enterprise ICT Market Share by IT Solution, 2022 (%)

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Brazil Enterprise ICT Market Segmentation by Vertical

The BFSI sector will be the largest independent end-use vertical segment for the ICT market in Brazil in terms of revenue contribution, through 2022 to 2027. ICT revenue from the BFSI sector reached over $11 billion in 2022 and is set to grow at a CAGR of over 19% between 2022-2027. The segment is set to account for a 14.4% share of the total cumulative revenue forecasted for the overall ICT market in Brazil for 2022-2027.

Brazil ICT Market Share by Vertical, 2022 (%)

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Scope

The country intelligence report provides an in-depth analysis of the following –

• The macroeconomic and regulatory context and government initiatives in Brazil.
• Enterprise ICT market outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT segments, ICT solution areas, end-use verticals, and enterprise size bands.
• Enterprise ICT Budget Allocations – 2022 vs 2023: Overview of survey findings regarding changes in the overall enterprise ICT budget allocations in 2023 compared to the previous year and across ICT segments, ICT solution areas, and existing vs new IT projects.
• Enterprise ICT growth drivers, market trends and challenges
• IT hardware segment revenue and budget allocations outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT hardware solution areas and budget allocations by ICT hardware categories.
• IT software segment revenue and budget allocations outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT software solution areas and budget allocations by ICT software categories.
• IT services segment revenue and budget allocations outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT services solution areas and budget allocations by ICT services categories.
• Enterprise Technology Priorities: Overview of survey findings on enterprise investment priority for key solution areas in current vs next two years.
• Company landscape: Analysis of the market position of leading ICT providers in the Brazil market.
• Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook.
• The survey was conducted in H1 2023 via an online methodology, with respondents all having ICT decision making responsibility (typically CIOs and IT Managers). GlobalData plans to repeat the survey in H1 2024, to monitor ICT budget changes on an ongoing basis.

Reasons to Buy

• This Country Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises across various industry verticals in Brazil and GlobalData’s Market Opportunity Forecasts to 2027, to offer a thorough, forward-looking analysis of Brazil’s enterprise ICT investment priorities and ICT revenue opportunity market.
• Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2027, the report examines the assumptions and drivers behind ongoing and upcoming trends in Brazil’s enterprise ICT market.
• The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to the previous year.
• The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions, and product/service categories and how they have changed this year compared to previous years.
• The report also presents an analysis of enterprise ICT revenue opportunities by various solution areas, enterprise size bands, end-use verticals, and segments over the forecast period 2022-2027.
• With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
• The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
• The report provides an easily digestible market assessment for decision-makers built around research gathered from the local IT decision-makers, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.