Analyst firm Gartner has revised its growth forecast for the Brazilian IT market and predicts the industry will generate $95.8bn in business, down from the $125bn it had estimated at the start of the year.
The reduction of nearly $30bn in the growth forecast is partly due to the uncertain economic conditions which promoted decision makers to spend less, according to the analyst.
"Even though Brazil continues to offer business opportunities for IT, buyers are more cautious in their purchasing decisions," says Luis Anavitarte, research vice president at Gartner.
"Strategies of service providers and partners should be continually realigned in order to adjust to a market that becomes more and more dynamic and experiencing constant change," Anavitarte adds.
For 2016, Gartner predicts that spending will exceed the $96.4bn mark, a meagre 0,6 percent increase on the growth figure forecast for this year.
When it comes to specific spending areas, devices - including PCs, mobile phones and printers - should generate $14.6bn, meaning a spending drop of 3,5 percent. Software spending is predicted to generate $4.3bn, so growth of 5,4 percent.