Boston, MA -- (SBWIRE) -- 06/02/2014 -- The Peruvian government has been looking for ways to reduce its dependence on natural resources and believes a focus on the ICT industry could facilitate this move. At the end of 2013, the IT industry accounted for around 0.9% of GDP, but with rising incomes and supportive government policy we expect this to rise to 1.1% by 2018. The government is improving supporting infrastructure, for instance through the Fibre Optic Backbone Network, and boosting domestic IT enterprise development through StartUp Peru and the One Laptop Per Child policy. We believe Peru's IT market will perform strongly over the medium term due to a combination of a supportive macroeconomic environment and growth trends in the IT sector. There is however downside to an otherwise positive outlook, with our Asia Country Risk team expecting weaker Chinese demand to negatively impact Peruvian growth.
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Headline Expenditure Projections
Computer Hardware Sales: PEN2.8bn in 2018 to PEN3.9bn in 2018. Tablets will outperform other form factors, but with low PC penetration and rising incomes there will remain growth opportunities for vendors of desktops and notebooks.
Software Sales: PEN6900mn in 2014 to PEN1.123bn in 2018. Our strong software outlook could be revised upwards if financing constraints on SME informatisation are eased.
IT Services Sales: PEN2.2bn in 2014 to PEN3.9bn in 2018. We expect IT services to be the outperforming segment as Peru emerges as a destination for outsourcing services, while we expect growth in cloud computing services to be robust over the medium term.
Key Trends & Developments
The SME market is a large opportunity for enterprise software and IT services vendors targeting Peru. There is a large SME base but relatively low penetration of enterprise software - with ERP, SCM and CRM penetration of around 30%. A survey by BNAmericas published in March 2014 show that there is strong demand from SMEs for the integration of IT tools into their businesses, but a lack of affordability continues to be the main roadblock. Financing assistance by government would be a welcome move, but given the rapid rise of cloud computing software delivery it may not be necessary. BMI has argued that cloud pricing models and the low-level requirements of SMEs make them a good match - and we expect strong growth in the medium term. With SMEs facing continued struggles to finance on-site deployments in 2013, it could be that a large number of SMEs move straight to cloud enterprise software services, bypassing the era of onsite systems.
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