Argentina Information Technology Report Q3 2013 - New Report Available

The Argentine IT market holds great potential with scope for large increases in PC penetration, second device ownership, enterprise software penetration and cloud computing uptake. However, in the short term, the economic environment is stymieing development, with depreciation of the peso and import restrictions acting as a break on PC sales in 2012 and early 2013. Both imported PCs and nationally manufactured were affected, with the latter impacted by weak consumer confidence and a reliance on imported components. Providing these short-term economic challenges can be navigated, we believe the Argentine market will grow rapidly, with rising PC penetration, including new form factors such as tablets and hybrids, and increased enterprise spending as confidence improves. Further, the market will benefit from deferred purchases/investment in 2012 and 2013.

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Headline Expenditure Projections

Computer Hardware Sales: ARS12.1bn in 2012 to ARS14.5bn in 2013, +19.8% in local currency (but down 5.2% in US dollar terms). Forecast revised downwards due to macroeconomic factors, including domestic inflation and currency depreciation, as well as local reports of a decrease in PC unit sales.

Software Sales: ARS2.8bn in 2012 to ARS3.5bn in 2013, +23.9% in local currency terms (down 2% in US dollar terms). Small- and medium-sized enterprise (SME) demand for software and strong potential in enterprise resource planning (ERP) applications should maintain growth despite macroeconomic challenges.

IT Services Sales: ARS8.7bn in 2012 to ARS10.9bn in 2013, +26.4% in local currency terms (unchanged in US dollar terms). IT services revenue is forecast to be the outperforming segment in the market, with drivers including growth of the outsourcing industry and cloud computing demand from the SME segment.

Risks/Rewards Rating: Argentina's score was 58.6 out of 100.0 as it moved up two positions to fifth in the Americas region in our latest RRR table. Argentina's low country risks score influenced its ranking as devaluation and inflation risks weighed on its score, while import restrictions also lowered the industry risks score, with both below the regional average.

Key Trends And Developments

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