The IT market is making its entrance in an accelerated way throughout Latin America, being a solid source of talent and development that is worth looking at.
The growing demand for technological solutions led IT companies to emerge and increase their profits. In the Global 2000 list of Forbes Magazine, which measures the largest companies worldwide, for the first time in 2020, 161 technology companies were part of this ranking, which demonstrates the capitalization of the sector.
Despite the ravages of the pandemic, the Latin American market showed a growth of 8.5% in the information technology market during 2021, which reflects the importance of the sector in the economic development of the countries in the region. IDC, the leading analysis firm in the ICT industry, reported that by 2022, growth will be approximately 9.4% in the business market (excluding the consumer market), a figure that stands out in its "10 predictions" for the coming years.
"By 2022, we expect a continued increase in IT spending with an average growth of 9.4%, as technologies enabled, modified, and accelerated the dynamics to continue with business," said Ricardo Villate, IDC Group Vice President for LatinAmerica.
Likewise, he highlighted that the e-commerce market increased its penetration between 10 to 15 percentage points in all categories of commerce. This also translates into mobile payment methods reaching more than 50% of the population in Latin America. Another example is that the post-pandemic work model has been permanently remote in at least 40% of companies.
A report by the OECD and the United Nations points out that it is necessary to address the digital gaps and for governments to be emphatic about it so that the benefits of this transformation reaches all regions, areas, cities, population groups, and others.
The OECD notes that these digital tools are triggering innovations in business models and production systems, the re-organization of economic sectors, the new dynamics in the world of work, the supply of intelligent goods and services, and the new conditions of competitiveness. That's why the digital transformation must start from training in terms of skilled labor, with the use of these new technologies in all sectors of the population, and from the appropriation of a digital thinking culture.
For entrepreneurs, digitization is here to stay. Companies have not contemplated reducing the measures or investments they make every day for the virtual model. They have found an ally in technology to provide better service to customers, a personalized experience, an increased productivity, and a significant cost reduction.
The global cloud market will reach US$ 474 billion in 2022, as a consequence of the impact of the pandemic and the rise of digital services in the business strategies of companies; which are migrating to the cloud as the centerpiece of new digital experiences. Likewise, the pandemic has reinforced the importance of flexible and reliable infrastructures for data processing, storage and connectivity, given the prevalence of remote work and the apps transformation towards cloud-based solutions.
Knowing how to manage, particularly what helps us understand and share the customer experience, will be key for next year. Consequently, data processing will continue to be differential in order to have said information, speed and method, to draw conclusions and make loyalty proposals.
The pandemic accelerated the digital transformation, and for the case of artificial intelligence and automation, they are not left back. While the last two years have been about adopting these technologies rapidly to drive business, 2022 will be marked by scaling up the technology strategy.
Latin American companies are making progress in this direction, in an Accenture's study, "TechnologyVision 2021", 42% of executives in the region said they would scale artificial intelligence, while 25% robotic process automation (RPA). This are very good news, because scaling means applying technologies throughout the company and not in silos or for specific projects. In 2022, however, those percentages need to be a lot more higher if companies are willing to stay competitive in an ever-changing market.
The IT market is making its appearance in an accelerated way throughout Latin America, being a solid source of talent and development that is worth looking at. If what you are looking for is to expand your work team and you are looking for highly trained resources, LATAM is the right place. We know that the best talent is hired, but through Simbiosis we make it available to you.
Learn more about our offer and business model at https://simbiosis.team/