Chile ICT Market Size

Chile ICT Market Analysis

Chile's ICT Market is expected to grow at a CAGR of 9.3% over the next five years. Increasing emphasis on digital technology and advanced technology, such as cyber security, artificial intelligence, and robotics, drives the market's growth. The ICT market across the Country is increasing due to strong spending on hardware and software services by Chilean companies.

• The ICT sector includes both the IT and Telecom markets. IT investments are growing, and the ICT market demand is expected to grow significantly over the next five years. The increasing need to explore and adopt digital technologies and initiatives, the increase in the overall demand for digitalization and increasing IT infrastructure developments, the wide 5G network adoption, and the rising penetration of technology investments are boosting the Chile ICT market growth significantly.
• The government took initiatives to develop the ICT industry, which would drive new growth opportunities for the ICT market. For instance, Microsoft Cloud would improve remote work communications and learn through services such as Microsoft Teams, enhance the reliability and scale of Chilean businesses' services, and empower individuals, the public and private sectors, and the Chilean government to innovate with the latest developer tools. Furthermore, Microsoft created a robust skilling strategy for up to 180,000 Chileans and an Advisory Board comprised of local leaders to create inclusive opportunities for success in the digital economy.
• Although information and communication technology (ICT) is everywhere, it plays a significant role in the Country's economic development. For Instance, Huawei would provide AI cloud services in Chile. The new data center facility is located in Santiago. Such initiatives would bring new growth opportunities for the Chilean ICT market.
• The ICT industry significantly impacts the GDP of Chile. According to the IMF (International Monetary Fund), Chile's GDP is expected to grow by USD 407.86 billion by 2027. The county's GDP is growing significantly with increasing IT investments that would create new growth opportunities for the Chilean ICT market.
• According to ITU (International Telecommunication Union), internet penetration in Chile is expected to grow steadily from last year to 2026. As per the research, the Country's internet penetration increased from 86.7% in the previous year. Also, Chile's internet penetration is expected to grow by 88.8% by 2026. The growing internet penetration would drive new growth opportunities for the Chilean ICT market.
• Due to the COVID-19 pandemic, a large portion of the Chilean population was forced to stay at home constantly, and many opted to work from home due to increased broadband consumption. Post COVID-19 scenario created an unexpectedly high demand for mobile, fixed broadband, fixed voice, pay-TV, and OTT services. The high demand for mobile and residential broadband access created new growth opportunities for the Chilean ICT market.