Brazil's IT services market grows in H1 2019

The segment saw a 6.1 percent boost driven by managed services, according to a new study.

The IT services market in Brazil grew by 6.1 percent in the first half of 2019 compared to the same period in 2018, according to a new report released by IDC.

According to the data from the analyst firm, the growth seen over the period was mainly driven by the managed services segment.

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Other factors behind the increase include more workload migrations to the cloud. In addition, there was increased demand for support and consulting services for adoption of technologies such as artificial intelligence and big data & analytics, and cloud provider services, which provide infrastructure, platform or software-as-a-service offerings.

Activity in the small and medium enterprise segment was also noteworthy during the period, according to IDC. SMEs attracted large service providers with more structured offerings.

In terms of most active buyers, the financial services industry was the most significant, with increased activity led by traditional and challenger banks as well as fintechs.

According to a separate study by the Brazilian Association of Software Companies (ABES) and IDC, the IT sector in Brazil has seen overall growth despite the economic instability of the last few years, up 9.8 percent in 2018 in relation to the prior year and generating $46.6 billion.