IT services market in Latin America to Grow by USD 33.68 Bn | Rising Focus on Core Competencies and Improved Efficiency will Drive Growth | Technavio – Yahoo Finance

NEW YORK, Dec. 13, 2021 /PRNewswire/ — The IT services market in Latin America is expected to be driven by factors such as the rising focus on core competencies and improved efficiency. Companies outsource IT-related tasks such as application and infrastructure management to IT outsourcing service providers. This helps improve their operational efficiency, as companies do not have to invest in resources. IT outsourcing service providers have delivery teams and operational structures that allow them to reduce costs. Hence, companies can focus on their competencies and assign complex IT tasks to outsourced service providers. Companies prefer to outsource their IT support services. IT outsourcing service providers are equipped with innovative technology and employ domain experts.
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The IT services market in Latin America is expected to grow by USD 33.68 bn from 2020 to 2025, as per Technavio. The growth momentum of the market will accelerate at a CAGR of 6.61%. The year-over-year growth rate of the market in 2021 is 4.75%.
Read the 120-page report with TOC on "IT Services Market in Latin America Analysis Report by Type (project-oriented service, enterprise cloud computing service, IT outsourcing service, and IT support and training service) and Deployment (hosted service and managed service), and the Segment Forecasts,2021-2025".
The market will be challenged by factors such as lack of quality standards in service-level agreements (SLAs). An SLA establishes a contract between the service provider (either internal or external) and the end-user. It covers all possible expected levels of services from the service provider. SLAs are output-based and specifically define the benefits and support received by the customer during the agreement. However, SLAs do not include the services delivered. End-users are also uninformed about full services to be included in SLAs to protect their businesses. They lack experience in terms of negotiating SLAs before opting for cloud services. Therefore, service providers need to be transparent regarding their SLAs to increase the adoption of IT services. This will help users understand risk factors and plan for the worst scenarios.
Major IT Services Companies in Latin America:
Accenture Plc
Alphabet Inc. Inc.
Atos SE
Capgemini SE
Cisco Systems Inc.
Dell Technologies Inc.
HCL Technologies Ltd.
International Business Machines Corp.
For additional inputs regarding the vendors operating in the IT services market in Latin America, View Our Free Sample Report
IT Services Market In Latin America Type Outlook (Revenue, USD bn, 2020-2025)
Project-oriented service – size and forecast 2020-2025
Enterprise cloud computing service – size and forecast 2020-2025
IT outsourcing service – size and forecast 2020-2025
IT support and training service – size and forecast 2020-2025
IT Services Market In Latin America Deployment Outlook (Revenue, USD bn, 2020-2025)
Hosted service – size and forecast 2020-2025
Managed service – size and forecast 2020-2025
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IT Services Market Scope in Latin America
Report Coverage
Page number
Base year
Forecast period
Growth momentum & CAGR
Accelerate at a CAGR of 6.61%
Market growth 2021-2025
USD 33.68 billion
Market structure
YoY growth (%)
Regional analysis
Latin America
Competitive landscape
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Accenture Plc, Alphabet Inc., Inc., Atos SE, Capgemini SE, Cisco Systems Inc., Dell Technologies Inc., HCL Technologies Ltd., International Business Machines Corp., and SONDA S.A.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
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