The Next Big Things for LATAM in 2023

Pray Nadal

As we enter 2023, the software development industry in Latin America (LatAm) is poised for significant growth and innovation. In the coming year, we can expect to see a number of exciting developments in the region, driven by advances in technology, increased investment, and a growing pool of talented developers.

One of the most significant trends we can expect to see in LatAm in 2023 is the continued growth of the artificial intelligence (AI) and machine learning (ML) industry. According to a report by the Latin American Business Council, the AI market in LatAm is set to reach $1.2 billion by 2025, driven by increasing investment in the region and the growing demand for AI-powered solutions across a wide range of industries.

Another area where we can expect to see significant growth in 2023 is in the field of blockchain technology. As reported by Forbes, LatAm has quickly become a hotbed for blockchain innovation, with countries like Brazil and Argentina leading the way in terms of development and adoption. In 2023, we can expect to see an increasing number of blockchain-based solutions being developed and deployed across the region, from supply chain management to financial services.

Another area of growth in LatAm in 2023 is the Internet of Things (IoT) market. According to a report by Business Insider, the IoT market in LatAm is projected to reach $44 billion by 2024, driven by increasing demand for IoT-enabled devices and services across a wide range of industries.

In 2023, we can also expect to see an increase in the number of software development firms in LatAm. According to a report by the Latin American Venture Capital Association, the number of software development firms in LatAm has grown by more than 50% in the past decade, driven by an increasing number of talented developers and a growing demand for software development services.

Finally, in 2023, we can expect to see an increase in the number of remote-working software developers in LatAm. As reported by the Andean Development Corporation, remote work is becoming increasingly popular in LatAm, driven by the COVID-19 pandemic and the growing demand for remote-working software developers.