Boston, MA -- (SBWIRE) -- 02/27/2013 -- BMI View: Colombia's IT market is forecast to increase in value to US$3.3bn in 2013, representing a 9% year-on-year increase. Colombian IT spending is projected to grow at a compound annual growth rate of 10.9% during the period 2013-2017, driven by economic growth, government ICT initiatives and improving infrastructure. The consumer-driven economic boom of the past few years may have come to an end, but rising incomes and greater computer affordability will result in more spending on IT products and services. Meanwhile, the government's Vive Digital ICT development plan should also help to underpin market expansion over our five-year forecast period.

Headline Expenditure Projections:

Computer hardware sales: US$1.5bn in 2012 to US$1.6in 2013, +8% in US dollar terms. Forecast in US dollar terms downwardly revised due to analyst adjustment amid signs of a consumer slowdown. However, tablets are expected to be a growth area, with a strong uptake of the devices in the Colombia market.

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Software sales: US$487mn in 2012 to US$537in 2013, +10% in US dollar terms. Forecast in US dollar terms downwardly revised due to analyst adjustment, with the greatest demand for basic solutions, such as enterprise risk management and supply chain management systems.

IT services sales: US$1.0bn in 2012 to US$1.2bn in 2013, +11% in US dollar terms. Forecast in US dollar terms downwardly revised due to analyst adjustment, although more spending is expected on ehealth, e-education and e-government service roll-outs.

Risk/Reward Rating: Colombia's score is 53.1 out of 100.0. Colombia ranked eighth our of nine markets in the Americas region in our latest risk/reward ratings (RRRs) table, behind all of its regional peers, with the sole exception of Venezuela. Despite the high growth potential of its market, Colombia's overall ranking was constrained by a low country rewards score of just 50, marking the country joint lowest in the region with Peru.

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