LONDON--(BUSINESS WIRE)--Technavio projects the IT services market in Latin America to post a CAGR of over 9% during the forecast period. The need to focus on core competencies and improve efficiency is one of the factors that will drive the growth of the market. Firms are implementing IT services such as managed services and IT outsourcing services to focus on their core business process and outsource IT function to improve operational efficiency.
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In this report, Technavio highlights the increased adoption of BYOD as one of the key emerging trends in the IT services market in Latin America:
Increased adoption of BYOD
Enterprise mobility has gained ground in the corporate world in response to employees' preference to use their smartphones, tablets, and portable computers at work. BYOD demands specific management and IT service delivery frameworks to guarantee electronically secure and productive work environments. The major focus of companies is to provide the right mobile devices to their employees. Thus, the implementation of the BYOD policy is an emerging trend among various enterprises. The growth in BYOD leads to more number of operating systems and mobile devices such as iOS, Android, Windows, smartphones, and tablets that can access secure computer networks. The reason for the implementation of BYOD program is to provide a cost-effective solution, mobility to employees, and enhance productivity.
According to a senior analyst at Technavio for IT spending research, “BYOD programs help firms to reduce their IT cost by reducing capital expenditure and improving efficiency. To successfully implement the BYOD program, vendors are providing IT solutions to provide an environment where the workforce of an organization can use their personal devices through robust internet connectivity infrastructure.”
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Market segmentation and analysis through 2022
This market research report segments the IT services market in Latin America based on the type of services (IT outsourcing service, project-oriented service, IT support and training service, and enterprise cloud computing service), by deployment type (hosted service and managed service) and by countries (Chile, Brazil, Argentina, Mexico, Columbia).
IT outsourcing service accounted for close to 49% of the market, followed by project-oriented services. The demand for IT outsourcing services is increasing because enterprises from North America and Europe are outsourcing their support services to Latin America due to its geographical proximity and proficiency in languages such as Spanish.
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