Colombia Cloud Computing Market by Service Model, Deployment Model, Subscription Model, Company Size, End User – Industry Analysis, Size and Forecast, 2019-2032

Colombia Cloud Computing Market Growth and Performance

• By 2024, the Colombia cloud computing market size will hit US$ 1.32 billion by 2024, with an expected Compound Annual Growth Rate (CAGR) of 8.63% from 2024 to 2032.
• The cloud computing Colombia industry achieved US$ 1.22 billion in 2023.

Colombia Cloud Computing Market Outlook

The Colombia cloud computing market outlook is highly promising, driven by rapid digitalization, government-led initiatives, and a thriving IT sector. With internet penetration rising to 63% in 2023, Colombia is emerging as a key technology hub in Latin America, ranking third in the region’s software and IT market.

Colombia Cloud Computing Market Drivers

Government-Led Digital Initiatives

In February 2024, Colombia’s Ministry of Information and Communication Technologies (MinTIC) and the National Planning Department (DNP) introduced the National Digital Strategy (NDS) for 2023-2026, aiming to accelerate digital transformation through:

• Expanding broadband infrastructure to underserved areas, reducing the urban-rural digital divide.
• Building secure data infrastructure, enhancing cybersecurity, and strengthening digital trust.
• Developing AI-driven solutions across industries, funding AI startups, and establishing research centers.
• Promoting e-government services, improving citizen engagement and digital service delivery.

These initiatives align with Colombia’s efforts to position itself as a leading digital economy in Latin America, fostering cloud adoption across enterprises and public institutions.

Thriving Software and IT Ecosystem

Colombia’s Software and IT sector contributed 3% to national GDP in 2023, with industry sales reaching USD 2.17 billion. The country has a dynamic digital economy, experiencing a 28% annual growth rate in tech startups between 2019 and 2023. Key industries driving cloud adoption include fintech, e-commerce, and digital health.

Growing Connectivity and Workforce Expansion

With 75.7% internet penetration and 77 million mobile connections, Colombia has made significant strides in digital infrastructure. Additionally, the number of IT graduates has doubled since 2010, supported by government-backed training programs, ensuring a steady pipeline of skilled cloud computing professionals.

Expanding Tech and Startup Ecosystem

Colombia has become one of Latin America’s top destinations for tech entrepreneurship, ranking fifth in the Global Innovation Index 2023. The government supports cloud-driven startups through funding programs, incubators, and tax incentives, boosting cloud adoption among small and medium enterprises (SMEs).

Colombia Cloud Computing Market Development

The Colombia cloud computing market competitive landscape is rapidly evolving, driven by major cloud providers expanding their presence in the country. Oracle, AWS, Google Cloud, and Equinix are investing in cloud infrastructure, enhancing the Colombia cloud computing industry. These Colombia cloud computing market drivers are fueling digital transformation, attracting global investments, and supporting enterprise cloud adoption across Latin America.

Oracle and Claro Launch Colombia’s First Hyperscale Cloud Region, Driving Colombia Cloud Computing Market

In a significant Colombia cloud computing market development, Oracle has partnered with Claro to open the Oracle Cloud Bogotá Region, Colombia’s first hyperscale cloud region. This marks Oracle’s 47th public cloud region globally and is part of its distributed cloud strategy. The partnership aims to accelerate cloud adoption, democratize access to innovative technologies, and support organizational modernization in Colombia. Claro, as the host partner, becomes the first telecommunications operator to offer Oracle Cloud Infrastructure (OCI) services in the country. The new region will provide over 100 OCI services, including Oracle Autonomous Database, MySQL HeatWave, and AI infrastructure, enabling businesses in Colombia and neighboring countries like Peru, Ecuador, and Panama to drive digital transformation and unlock new growth opportunities. This initiative underscores the rapid evolution of the Colombia cloud computing market, positioning the country as a key player in Latin America’s digital economy.

Equinix Expands Data Center Infrastructure in the Colombia

Equinix has strengthened the Colombia cloud computing market with the launch of its BG2 data center in Bogotá, marking a major step in Colombia's digital transformation. With a $45 million investment, BG2 is four times larger than the existing BG1 facility, making it one of Colombia’s largest data centers. This expansion enhances distributed and interconnected digital infrastructure, supporting businesses in Latin America. By providing on-demand physical and virtual infrastructure, Equinix is accelerating cloud adoption and digital ecosystem growth, reinforcing Colombia’s position as a regional cloud leader.

Google Cloud Strengthens Innovation in the Colombia

Google Cloud has expanded its footprint in the Colombia cloud computing market with a new innovation hub in Medellín. The office, located in El Poblado, aims to drive technological collaboration among businesses, academics, and professionals. Medellín, contributing over 20% of Colombia’s GDP, is home to major enterprises like Sura, Línea Directa, Coordinadora, and Grupo Nutresa. Google Cloud's presence is expected to attract tech startups, strengthen digital talent, and accelerate Colombia’s economic growth, further solidifying the country’s role in cloud computing innovation.

AWS Enhances Cloud Accessibility with Local Zones in the Colombia

AWS has launched its first Local Zone in Colombia, further optimizing the Colombia cloud computing market by reducing latency for critical applications. This initiative brings compute, storage, and database services closer to end users, enhancing industries such as media, gaming, warehouse simulations, and machine learning. AWS Local Zones seamlessly integrate with AWS Regions, ensuring secure, high-bandwidth connections for on-premises workloads. This development strengthens Colombia cloud infrastructure, providing businesses with scalable, low-latency cloud solutions to support digital transformation.

Colombia Cloud Computing Market Scope