Colombia ICT Market Size and Forecast (by IT Solution Area, Size Band and Vertical) to 2027
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Colombia ICT Market Overview
The Colombia ICT market was valued at US$ 18.61 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 13.63% to reach a value of US$ 35.26 billion by 2027. The cumulative revenue generation for ICT providers in Colombia is estimated at US$ 154.63 billion for 2022-2027.
Colombia ICT Market Outlook, 2022-2027 (in US$ Billion)
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The ‘Colombia ICT Market’ opportunity forecast report provides the total addressable market for ICT products/services in Colombia from 2019 to 2027.
Market Size (2022) | US$ 19.82 billion |
Market Size (2027) | US$ 35.26 billion |
CAGR (2022-2027) | 13.63% |
Key IT Solutions | • Application Development and Management (3 Products/Services)
• Artificial Intelligence (4 Products/Services) • Business Process Applications (9 Products/Services) • Business Process Outsourcing (6 Products/Services) • Client Computing (10 Products/Services) • Cloud Computing (7 Products/Services) • Communications and Collaboration (10 Products/Services) • Consulting & Integration Services (3 Products/Services) • Data and Analytics (6 Products/Services) • Data Center and Hosting (2 Products/Services) • Edge Computing (11 Products/Services) • Internet of Things (IoT) (3 Products/Services) • IT Management (11 Products/Services) • Mobility (5 Products/Services) • Networking (18 Products/Services) • Security (17 Products/Services) • Servers (4 Products/Services) · Storage (7 Products/Services) |
Key Verticals | · Communication
· Construction · Consumer Goods · Education · Energy · Financial Markets · Foodservice · Government · Healthcare · Information Technology · Insurance · Manufacturing · Media · Medical Devices · Mining · Others · Pharmaceuticals · Retail · Retail Banking · Transport and Logistics · Travel and Leisure · Utilities |
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Colombia ICT Market Segmentation by Vertical
In terms of vertical end-use segments, the retail sector held the highest market share of 13.1% in 2022, followed by the retail banking sector. The travel and leisure sector is expected to be the fastest-growing segment, at an estimated CAGR of 20.22%, during the forecast period.
Colombia ICT Market Share by Verticals, 2022 (%)
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Scope
This product provides revenue opportunity forecasts for ICT products/services in Colombia from 2019 to 2027, spanning 18 IT Solutions and 133 products/services. The details of the IT solutions and the corresponding products/services have been provided. The forecast data has been provided for 5 employee size bands.
Key Highlights
- The ICT market in Colombia is expected to grow at a CAGR of 63% over the forecast period.
- The country’s top three product/service categories – SaaS, IoT Hardware, and Systems Design and Integration.
- SaaS is expected to be the leading ICT product/service segment in Colombia during the forecast period.
Reasons to Buy
- Assess the historical data (past 4 years), current state, and expected growth (next 5 years) of the ICT market in Colombia.
- Identify the fastest-growing products/services within the Colombia ICT market.
- Determine the most lucrative vertical for ICT in Colombia, considering their current contribution to the overall Colombia ICT market and their expected input toward the growth of the market over the next 5 years.
- Identify products/services that would contribute toward the growth of the ICT market in Colombia over the next 5 years.
- Get a thorough, forward-looking analysis of Colombia ICT trends and key opportunities in a concise format to build proactive and profitable growth strategies.
Frequently asked questions
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What was the Colombia ICT market size in 2022?
The Colombia ICT market size was estimated at US$ 18.61 billion in 2022 and is expected to reach US$ 20.59 billion in 2023.
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What will the Colombia ICT market growth rate be by 2027?
The Colombia ICT market is expected to grow at a compound annual growth rate of 13.63% over the forecast period, to reach US$ 35.26 billion by 2027.
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Which industry vertical led the Colombia ICT market in 2022?
The retail sector was the largest Colombia ICT vertical with 13.1% market share in 2022.
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Which type of products/service led the ICT market in Colombia in 2022?
The SaaS segment dominated the Colombia ICT market in 2022 with a revenue share of more than 6.1%.
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