Information technology is all about solving problems. Whether you are dealing with healthech, the Internet of Things, cloud computing or data analysis you need expert solutions from top-level professionals. Finding them is never easy, but the Brazilian tech market seems to have the answer while swiftly emerging as one of the best tech industries in the world and a much-needed problem solver.
Brazil is leaving behind its dire recession period and focuses on cementing its position as a future leading economy. The latest presidential elections coupled with increased stability in the business sector have opened the doors to new, foreign investments. All of the major industries are benefitting from this breath of fresh air, and the tech market is not an exception.
The steady growth of the country’s GDP and interest from international financiers are transforming Brazil into a sort of South American Silicon Valley. According to LAVCA, there is a staggering increase of overseas investors coming to Brazil from all over the world including China, Europe, Japan, and unsurprisingly from the United States’ original Silicon Valley.
The main areas of the Brazil tech market that absorb the largest foreign investments at the moment are:
The Internet of Things (IoT)
Specialists expect this sector to generate more than $8 billion in business in 2019. This surge is backed by governmental programs that aim to promote and support the rapid development of tech initiatives in agriculture, health, and infrastructure.
Big Data and Analytics
Local tech companies in Brazil have already made considerable advancements in creating a stable environment for data strategy. The entire sector is enjoying a successful ascension, which has many voices in the industry to predict an optimistic future. Now, all that is missing is a big leap forward, which should be possible through foreign investment.
The public cloud market in Brazil may have started the race later and slower than its North American competitors, but it is quickly catching up. So far, there have been significant investments in infrastructure, software and platform use with the business being expected to generate over $3 billion by next year.
Brazil is the seventh biggest health market in the world spending more than $42 billion every year on private healthcare. It is no surprise that one of the most reliable tech markets in Brazil is the healthech sector, which features more than 300 startups and companies at the moment.
Nevertheless, the demand for health apps, health software development and the digitalization of medical records is as high as ever. This sector abounds in investment opportunities for foreign investors everywhere.
If you are wondering when it is safe to enter the Brazilian tech market, the answer is yesterday! The country has a healthy business environment that is more than ready to receive foreign investment.
Brazil is a young nation with over 85% of the population under 55-years old. It has one of the highest numbers of internet users as more than 76% of the users access the web every day. Also, it is addicted to social media with over 92% of Brazilian internet users connecting to social networks every day.
Wide Brazil is a professional team of expert consultants who offer high-quality services for foreign investors looking to take part in the tech market in Brazil. We use our extensive expertise in IT, commercial, legal and accounting sectors to provide you with the best possible guidance for your business.