IT Services Market in Latin America by Type and Deployment - Forecast and Analysis 2021-2025

The IT services market share in Latin America is expected to increase by USD 33.68 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.61%.

This IT services market research report of Latin America provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers IT services market segmentation in Latin America 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). The IT services market report of Latin America also offers information on several market vendors, including Accenture Plc, Alphabet Inc., Amazon.com Inc., Atos SE, Capgemini SE, Cisco Systems Inc., Dell Technologies Inc., HCL Technologies Ltd., International Business Machines Corp., and SONDA S.A. among others.

What will the IT Services Market Size in Latin America be During the Forecast Period?

Download the Free Report Sample to Unlock the IT Services Market Size in Latin America for the Forecast Period and Other Important Statistics

IT Services Market in Latin America: Key Drivers and Trends

The rising focus on core competencies and improved efficiency is notably driving the IT services market growth in Latin America, although factors such as lack of quality standards in service-level agreements (SLAs) may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the IT services industry in Latin America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key IT Services Market Driver in Latin America

One of the key factors driving growth in the IT services market in Latin America is the rising focus on core competencies and improved efficiency. Companies outsource IT-related requirements such as application and infrastructure management to IT outsourcing service providers. This is supporting companies to achieve their vision and mission by putting their resources and people skills into their core business. It also helps improve their operational efficiency, as firms do not need to invest in resources or be concerned about managing limited available resources. IT outsourcing service providers have delivery teams and operational structures that allow them to minimize costs. Hence, firms can focus on their competencies and leave the complex IT tasks to outsource service providers. Companies prefer to outsource their IT support services, wherein IT outsourcing service providers are equipped with innovative technology and domain experts.

Key IT Services Market Challenge in Latin America

The lack of quality standards in service-level agreements (SLAs) will be a major challenge for the IT services market in Latin America during the forecast period. 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 cover the services delivered. End-users are also uninformed about full services to be included in SLAs to protect their business. They also lack experience in terms of negotiating SLAs before opting for cloud services, and most of the time, realize it later. Therefore, service providers need to be clear and transparent regarding their SLAs to increase the adoption of IT services. This will help users understand risk factors and plan for the worst scenarios.

This IT services market in Latin America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major IT Services Market Vendors in Latin America?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Accenture Plc
• Alphabet Inc.
• Amazon.com Inc.
• Atos SE
• Capgemini SE
• Cisco Systems Inc.
• Dell Technologies Inc.
• HCL Technologies Ltd.
• International Business Machines Corp.
• SONDA S.A.

This statistical study of the IT services market in Latin America encompasses successful business strategies deployed by the key vendors. The IT services market in Latin America is fragmented and the vendors are deploying growth strategies such as investing in R&D to advance their offerings and increase their consumer base to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The IT services market in Latin America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Type Segments in the IT Services Market in Latin America?

To gain further insights on the market contribution of various segments Request for a FREE sample

The IT services market share growth in Latin America by the project-oriented services segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the IT services market size in Latin America and actionable market insights on post COVID-19 impact on each segment.

Request for a FREE sample

What are the Key Data Covered in this IT Services Market Report of Latin America?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive IT services market growth in Latin America during the next five years
• Precise estimation of the IT services market size in Latin America and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of IT services market vendors in Latin America

We can help! Our analysts can customize this report to meet your requirements. Get in touch