The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
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.