Dado is part of the preview of the twentieth edition of the Brazilian Software Market Study – Panorama and Trends, which brings perspectives on a global level and also on the Brazilian market
ABES – Brazilian Association of Software Companies presented, during a live open to the public in its YouTube channel, The Brazilian Software Market Study – Panorama and Trends 2024. According to data from the International Data Corporation (IDC) analyzed by ABES, the twentieth edition of the study – considered the main reference for the sector in the country –, Brazil surpassed South Korea and Italy and returned to being among the 10 global powers, with the US＄ 50 billion in investments.
The research shows that Brazil maintained 1.6% of investments in technology globally, and 37.2% of investments throughout Latin America (compared to 36.5% in the previous survey). Considering the total global investments in information technology (software, hardware and services) during 2023 – which was US＄ 3.2 trillion, against US＄ 3.11 trillion in the previous year –, Brazil rose two positions , now ranking in tenth place in this investment ranking, with US＄50 billion invested and leads in Latin America, whose total investments reached US＄134 billion (compared to US＄124 billion in 2022).
Brazil continues to be a reference among countries considered emerging, presenting maturity in IT investments – which prioritizes the values dedicated to software development and increasing the offer of services, distributed in:
30% for the software market (US＄ 15 billion), compared to 26% in the last study (US＄ 11.7 billion);
22% for the services market (US＄ 10.9 billion), against 19.5% in the last study (US＄ 8.8 billion);
48% for the hardware market (US＄23.9 billion), compared to 54.6% in the last study (U＄24.7 billion).
The values above show that the country is moving towards the global average, whose distribution is 31% in software, 26% in services and 43% in hardware.
“The degree of maturity of IT investments is assessed based on the increase in investments in intelligence (Software + Services) versus the decrease in investments in Hardware. In recent years we have seen a decline in the share of hardware in total IT investments, demonstrating that the installed hardware base is already reaching maturity. On the other hand, we saw investments in Software and Services grow and for the first time since we started the Study in 2004, with the sum of investments in Software and Services surpassing investments in Hardware, showing the progress that Brazil has made in terms of maturity of its IT investments”, explains Jorge Sukarie Neto, ABES advisor and responsible for the study.
Another important conclusion of the study is that Brazil continues to be in first place in the ranking of Latin American countries, going from 36.5% of investments in the region, in 2022, to 37.2% in 2023. “It is simply impossible to talk about a Latam market without thinking about Brazil. Our leadership, in this sense, is unquestionable”, details Sukarie.
The trend for 2024 is for global growth of around 7.4%. In Brazil, the index should reach 6%. But, in 2023, the growth of the technology market, at a global level, was 4.1%, with a drop of 0.4% in investments in Brazil. “Although the Software market grew by more than 13% and the Services sector grew by more than 10%, we had a drop of 11% in Hardware. And, as Hardware makes up almost half of investments, this drop ends up pulling the average down, leaving Brazil behind global growth of 4.1%”, concludes Sukarie.
The preview of the Brazilian Software Market Study – Panorama and Trends 2024 is available for download on this link.
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