ICT market in Chile set to reach US$1.76bn in 2006

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According to a new study from international consultancy IDC, Chile is set to see sales of ICT services reach US$1.76bn in 2006, up 13% compared to 2005.

For 2007, the Chilean market is expected to grow 10% compared to 2006. Chile is already a mature market, according to IDC. The consultancy estimates the Latin American market will grow 14.4% in 2006. IDC Southern Cone general manager Ricardo Villate has stated that economy of Chile has shown sustained growth while other countries were showing signs of recovery such as Argentina and Venezuela; SMEs were expected to see the largest increase in their IT investments, adding that that segment represents 40% of IT investments in Chile. SMEs are expected to increase their IT purchases at annual compound rates of 14% for the next five years. According to Villate, SMEs are in need of applications and IT services especially designed for their needs.

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