The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Colombia is a market with great potential due to relatively low penetration rates for PCs,
software and solutions. Our core scenario is for an IT spending CAGR of 4.5% over 2016-2020 as the
economy strengthens, with a potential tailwind from the formal conclusion of government conflict with
FARC. Colombia does however continue to be vulnerable to external shocks such as a lower oil price. This
downside was demonstrated in 2015 when oil prices resulted in a sharp depreciation of the peso against the
US dollar, and a marked contraction in demand for imported devices and solutions.
Latest Updates And Industry Developments
? IT Hardware Sales: COP3.30trn in 2016, rising to COP3.62trn by 2020, at a compound annual growth
rate (CAGR) of 2.3%. Downgraded outlook as evidence of PC substitution for smartphone spending
mounts, eroding the growth potential offered by relatively low PC penetration.
? Software Sales: COP1.25trn in 2016 to COP1.55trn by 2020, at a CAGR of 5.4%. The domestic
software industry benefited from depreciation, which made it more competitive, but will face competition
from global vendors for the spoils from modernisation over the medium term.
? IT Services Sales: COP2.53trn in 2016 to COP3.29trn in 2020, at a CAGR of 6.8%. The cost-savings
potential of IT services, especially outsourcing, cloud computing and smart services, will drive up
adoption and boost market value.