According to Business Monitor International, IT spending in Colombia will increase by a CAGR of 9.1% percent between 2019 and 2023, to $9.4 billion. IT services sales make up the largest share of the market at 65 percent, followed by computer software sales at 18 percent and hardware sales at 16 percent. Colombia also recently auctioned its 700 MHz spectrum band, allowing for the expansion of 4G LTE mobile broadband access. Colombia recently launched a Universal Sustainable Access Project, which will provide free internet in municipalities and 10,000 rural communities.
Sponsor: U.S. Commercial Service
Contact: Melissa McInnis