Brazil has consolidated itself as one of the greatest powers in the technology market in the world. At the moment, the country is a leader in Latin America and represents 1,6% of global investments. The information was collected through the study “Brazilian software market – Panorama and trends 2024””, carried out by ABES (Brazilian Association of Software Companies).
With the contribution of US$ 50 billions directed to the sector, Brazil surpassed important countries in the ranking of global powers, like South Korea and Italy. Em 2024, investments in technology in Brazil represented 37,2% of the movement in Latin America, surpassing the percentage recorded in 2023, which was from 36,5%.
Investments in software grow 30%
This survey has been carried out for 20 years at ABES, analyzing the market as a whole. In this last year, strong growth in the software and services market was demonstrated. While the first had an increase in its investments in 30%, the area of technological services increased 22% not Brazil.
For the first time, since the research began, investments in software and services together exceeded those invested in the hardware area. Now, The technology market is expected to grow 6% in Brazil throughout this year. The expectation for global growth is 7,4%.
Hardware is reaching its maturity
According to Jorge Sukarie Neto, ABES advisor and responsible for the study, Brazil still has a lot of growth potential in the technology sector. Nonetheless, with technological advances, It is natural that the hardware area has been recording significant drops in its revenue.
“In recent years we have seen this movement of decline in the share of hardware in total IT movements, demonstrating that the installed base [of hardware] has already reached its maturity.”, explained Neto. The complete ABES study was released last month, being presented during a YouTube live and, later, published on the association's website.
