Cloud computing means storing and accessing data & programs over the internet instead of user’s computer’s hard drive. It is an information technology which mostly relies on sharing of resources to achieve coherence and economies of scale. Some important characteristics of cloud computing are high degree of abstraction, pay-per-use and easily adaptable.Some of the cloud computing servicesare categorized intoinfrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS). Main aim of cloud computing market is to allow users to take the benefits with the development of all the technologies without having the deep knowledge or expertise.
In the region, cloud computing market has been rapidly increasing. SaaS market is cloud’s largest market. Various companies increasingly understand the benefits of the SaaS and PaaS solutions and making investments in the cloud. The SaaS market has diversified industry solutions such as ERP, CRM, and HR systems already tested and integrated with most of the platforms and on-premises applications. PaaS solutions are increasingly used by companies as a way to support the demand for development projects efficiently and cost-effectively.
According to study, “Cloud Computing in Latin America: Market Opportunity and Competitive Analysis” some of the major companies that are currently working in the cloud computing are Google, IBM, Americatel Peru, Huawei, Microsoft, Microsoft, Telefonica, Entelchile, AWS, Axtelmexico, CNTeduador.
In Latin America, the hybrid multi-cloud model is also growing for most enterprises. This model is made for meeting the unique needs of the business. With the help of this model the businesses can prevent data loss and can easily achieve technological goals. The organizations are adopting this model for data sovereignty reasons.
Cloud services are now one of the most important tools for Latin American entrepreneurs. These services offer a unique edge to local businesses. Many companies are making major investments in the cloud to strategically to grow their business. Due to highly connected end-consumers, Brazil, Mexico and Chile are ahead of cloud market growth in the Latin America. In addition, main factor of cloud market growth is competitive advantages, cost-management & data processing. Workers can take their work anywhere via smart phones and tablets, visiting customers in their homes or offices, or working in the field or at an office. Cloud computing helps companies to form remote work groups, without the need to bear the high costs of commuting, therefore product development and customer service is also improving.
Cloud computing is reducing the impact on the environment, owing to fewer data centers worldwide and more efficient operations. In Brazil, Mexico, Chile, Colombia, and Peru, many companies are using shared resources for improving ‘green’ credentials. The word “Green” creates enthusiasm among customers looking at environmental friendly goods and also creates a strong and loyal customer base. Green credentials represent reduction on income taxes.
In the region, the market is growing with the momentum of cloud brokerage services. Cloud service brokers act as intermediaries between cloud service providers and businesses that integrate their infrastructures with cloud-computing platforms.
The cloud computing market of Latin America is estimated to reach US$7.4 Billion by 2022, at a CAGR of 31.9%. In Latin America, over 18,000 companies use public cloud infrastructure which spend more than $20,000 per month. Simultaneously content delivery market is estimated as $600 million annually. In Latin America, largest telecommunication providers are Telefónica, America Móvil, and Oi. These companies are the leading providers of highest cloud market share.
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