[ClickPress, Mon Oct 14 2013] Chile is a regional leader in ICT development, with a proactive government looking to push a universal access agenda. The launch of the 2013-2020 Digital Agenda Imagine in May is the next step in trying to encourage entrepreneurship, innovation, digital inclusion, education and services, and applications. Reports suggest Chile's 2010 project 'Start Up Chile' is becoming a success story, with many local tech startups receiving investment from international venture capital firms. We believe the market is moving to a slower growth trajectory as it matures, but growth is still set to be around 9% annually over our medium-term forecast to 2017. Early stage opportunities such as rapidly rising PC penetration are diminishing, but vendors can still benefit from personal devices sales, while, in the public and enterprise segments, there is greater demand for more developed services such as software and IT services. Additionally, the government's commitment to continue investing and improving infrastructure that encourages IT development, will maintain the country's strong growth trajectory.
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Headline Expenditure Projections
Computer Hardware Sales: CLP863bn in 2013 to CLP1.142trn by 2017, CAGR of 7.5% in local currency terms. The market's relative maturity means a smaller pool of first-time buyers and greater emphasis on the upgrade/personal device market, resulting in a slower growth rate than 2011-2012.
Software Sales: CLP219bn in 2013 to CLP320bn by 2017, CAGR of 10.1% in local currency terms. Piracy of software remains a drag on the market, but progress is being made. Meanwhile, sales of Windows 8, and migrations from Windows XP after Microsoft support is withdrawn in 2014 will underpin growth.
IT Services Sales: CLP783bn in 2013 to CLP1.149trn in 2017, CAGR of 10.3% in local currency terms. Services will outperform in the medium term and embed its position as the largest part of the Chilean IT market. Major sectors such as utilities, financial services, government, telecoms, mining, retail and distribution offer strong growth possibilities for services.
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