LONDON--(BUSINESS WIRE)--The IT services market in Latin America is expected to witness a CAGR of over 9% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
Firms across the globe are implementing IT services including managed services and IT outsourcing services to focus on their core business processes and improve operational efficiency. Outsourcing services to third-party providers helps companies to achieve their vision and mission by deploying their resources and people skills into their core businesses. In addition, IT service providers provide delivery teams comprising of technology and domain experts and operational structures to the firms, in turn, allowing them to minimize the overall expenditure. Thus, the growing focus of companies to outsource their IT support services will drive the IT services market in Latin America during the forecast period.
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As per Technavio, increased adoption of BYOD will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
IT Services Market in Latin America: Increased Adoption of BYOD
Firms are increasingly adopting BYOD programs for reducing their IT operational costs by minimizing capital expenditure and improving efficiency. Implementing BYOD programs owing to the rising enterprise mobility has helped organizations to enhance productivity. In addition, there has been a rising preference among employees toward using their smartphones, tablets, and laptops at work for meeting professional deliverables. This, in turn, has encouraged the vendors to deploy IT services and BYOD solutions with the existing systems for providing a workforce-friendly environment. Thus, with the rising adoption of BYOD, IT services market is anticipated to witness considerable growth during the forecast period.
“Advent of big data and analytics services and growing shift of enterprises from CAPEX to OPEX model are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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IT Services Market in Latin America: Segmentation Analysis
This market report segments the IT services market in Latin America by type (IT outsourcing service, project-oriented service, IT support and training service, and enterprise cloud computing service) and deployment type (hosted service and managed service).
IT outsourcing services led the IT services market share in Latin America in 2017, followed by project-oriented service, IT support and training service, and enterprise cloud computing service respectively. The high share of the segment can be attributed to increasing enterprises from advanced economies outsourcing infrastructure solutions to third-party companies in Latin America. In addition, new market opportunities and trends in cloud computing and new business models, along with several M&A, are stimulating the IT infrastructure outsourcing services market in Latin America.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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