Market Size of Argentina ICT Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Argentina ICT Market Analysis
The Argentina ICT Market is expected to grow at a CAGR of 8.3% for the forecast period. Further, to increase their overall efficiency, Argentinian businesses are planning to devote the highest percentage of their ICT budgets to the business functions of manufacturing, procurement, and operations. Both private and public consumption would also support investment in technology in Argentina.
- During the forecast period, Argentina's information technology is expected to be one of the country's developing markets, necessitating the purchase of IT equipment, software, and other services. As per the effect of global digital transformation, Argentina is also rapidly moving towards implementing IT in various areas, including libraries, hospitals, banks, stores, jails, hotels, airports, train stations, and more.
- In terms of subscribers, in Latin America, only Brazil and Mexico are larger countries than Argentina in the ICT sector. The primary ICT services, including mobile, fixed-line, fixed broadband, and Pay TV, are also relatively well-developed in the nation, at least in comparison to other countries in the region. Also, with the help of internet-based services, the telecom sector has witnessed rising consumer demand, fuelling rivalry amongst telecom firms.
- The economic crisis and a lack of central bank reserves are causing issues for Argentina's ICT sector, which depends on international trade for hardware and services. Importing equipment and paying for software licensing, roaming services, cloud services, content, television signals, and even IP address used is more challenging due to the restricted access to foreign currencies.
- Notably, the Argentinean government would keep investing in infrastructure and accelerating the long-delayed rollout of FTTH in the nation (Fiber to the Home). With a projected expenditure of USD 80 million over the following 18 months, the state-owned corporation ARSAT would continue to link more than 1,200 municipalities with its primary fiber network.
- The pandemic has sped up digitization and automation procedures, which will significantly impact Argentina's labor market. Argentina is quickly approaching a new reality that could either increase inequality and informality or finally see exponential growth and the application of technology in the workplace. ICT applications like Skype, Zoom, Meet, or Hangouts-previously considered purely entertainment tools-have enhanced productivity and significantly aided the economy's advancement.
