IT Services - Chile

  • Chile
  • Revenue in the IT Services market is projected to reach US$1.87bn in 2024.
  • IT Outsourcing dominates the market with a projected market volume of US$0.66bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.53%, resulting in a market volume of US$2.50bn by 2028.
  • The average Spend per Employee in the IT Services market is projected to reach US$190.90 in 2024.
  • In global comparison, most revenue will be generated in the United States (US$495.30bn in 2024).

Key regions: United States, China, India, Japan, Germany

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

As technology continues to advance, the IT Services market in Chile has witnessed significant growth in recent years. Chile has become a hub for software development and IT outsourcing, with a growing number of companies looking to leverage the country's skilled workforce and favorable business environment.

Customer preferences:
Chilean customers have shown a strong preference for cloud-based solutions, as they offer cost savings, scalability, and flexibility. Additionally, there has been a growing demand for cybersecurity services, as companies seek to protect their sensitive data from cyber threats. With the increasing adoption of digital technologies, there has also been a rise in demand for digital transformation services.

Trends in the market:
One of the notable trends in the IT Services market in Chile is the shift towards nearshoring. This refers to the outsourcing of IT services to neighboring countries, such as Peru and Colombia, as opposed to offshoring to countries like India or the Philippines. This trend is driven by the desire to reduce costs while maintaining cultural and linguistic proximity.Another trend is the emergence of startups in the IT Services sector. Chile has a thriving startup ecosystem, with many companies offering innovative solutions in areas such as fintech, e-commerce, and healthcare. These startups are increasingly partnering with established companies to provide IT services and support.

Local special circumstances:
Chile's stable political environment and business-friendly policies have made it an attractive destination for foreign investment. The country has a highly skilled workforce, with a strong emphasis on education and training in technology-related fields. Additionally, the government has implemented several initiatives to promote entrepreneurship and innovation, such as tax incentives and funding programs.

Underlying macroeconomic factors:
Chile's economy has been steadily growing, with a focus on diversification and modernization. The country has a well-developed infrastructure, including reliable telecommunications and internet connectivity. This has enabled the IT Services sector to thrive, as companies are able to access global markets and compete on a level playing field. However, the COVID-19 pandemic has had a significant impact on the economy, and the IT Services sector has not been immune to these effects. Many companies have had to adapt to remote work and digital solutions, and there has been a shift towards cost optimization and efficiency. Despite these challenges, the IT Services market in Chile is expected to continue growing in the coming years, driven by innovation, talent, and a favorable business environment.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)