Between 2013 and 2023, the gross income of IT services in Brazil showed significant fluctuations, with notable growth and declines. The sector experienced its highest year-on-year growth rate of 21.89% in 2017, driven by increased digital transformation efforts across industries. The years 2015 and 2016 saw contractions due to economic instability affecting investment in IT services. From 2018 onwards, the growth remained relatively stable, with single-digit year-on-year increases, stabilizing around a CAGR of approximately 3.72% by 2023. In 2023, the market stood at 11.09 billion Brazilian Reals.
Future trends to watch for include the proliferation of cloud computing, increased adoption of artificial intelligence and machine learning technologies, and the rise of cybersecurity services as digital transformation continues to evolve. Forecasted data indicates a slower but steady growth with a 5-year CAGR of 2.99%, reaching 13.4 billion Brazilian Reals in 2028.
