An article in Nearshoreamericas.com states that "An increasing number of Indian technology companies are expanding in the emerging markets of Latin America, in an attempt to reduce their excessive dependence on the already saturated markets of the United States and Europe ".

The market intelligence firm IDC notes that Latin American IT services amounted to $24 billion in 2011 and is on track to grow by 10.8% a year over the next four years.

According to IDC, Latin America represents an untapped market of $40 billion. There has been a rapid increase in IT spending in Latin America in the last ten years, and the entire IT ecosystem of the region has been transformed with increased spending on emerging technologies like cloud computing, social media, mobility and large volumes of data.

Source: Nearshore Americas

More on this topic

The use of Information Technology in the Region

April 2014

Panama is the only country in the region which has improved considerably in the use of information technology in the last year.

Investments in the field of information technology have resulted in more and better use of these IT services in Panama, which has improved its overall position in the use of technology, according to the Information Technology 2014 report, prepared by the World Economic Forum World.

Agenda for ICT Development in El Salvador

May 2013

It is vital for the nation's economy that an agenda on Information and Communication Technologies be developed, accompanied by the relevant legislation.

Peter Argumedo, senior researcher at Fusades called for swift approval in the Legislative Assembly of the draft laws related to computer security, in order to promote an investment climate.

Advances in Technology Use in Panama

April 2013

Investments by Panama are resulting in it being positioned next to Chile in the 2013 Information Technology ranking by the World Economic Forum.

The availability of free internet nationwide in 'infoplazas', the provision of computers with Internet access to schools and the implementation of e-government, has allowed Panama to advance its use of new technologies in Latin America.

Guatemala Inaugurates Technology Campus

July 2010

This project will bring together several IT companies based in Guatemala.

It is located in the capital city and will feature three 7-storey buildings. The first of these will house 18 information technology companies.

“The complex will also house offices from the software and telecom departments of the country’s universities and colleges affiliated to the Guatemalan Exporters’ Association (AGEXPORT)”, reported Globedia.