According to the report analysis, ‘Latin America Market Insights on Cloud Infrastructure: Insights and Forecast, 2018-2024: Emphasis on Deployment Type (Public Cloud, Private Cloud), Public Cloud Services (SaaS, PaaS, IaaS, Cloud Advertising, BPaaS), End User (Banking, Financial Services and Insurance, Retail, Telecom & IT, Healthcare, Media & Entertainment, Government Agencies, Education, Energy, Manufacturing, Other Industries)’ states that Cisco System Inc., Equinix Inc., Google Inc., IBM Corporation, Salesforce. Salesforce.com, AT&T Inc, Amazon Web Services Inc., DXC Technology Company, HP Inc., Rackspace Hosting Inc. and many more are the key entities which presently functioning in the Cloud Infrastructure Market more actively for keep maintaining the governing position, leading the highest market growth, registering the great value of market share, generating the highest percentage of revenue and obtaining the competitive edge by implementing the policies of profit making and strategies of expansion, improving the qualitative and quantitative measures of such, spreading the awareness connected to the applications and advantages of cloud infrastructure, increasing the features and benefits of cloud infrastructure, analysing the strategies and policies of government as well as similar entities, and establishing the several research and development programs.
Segmentation by Deployment Model
Public cloud services controlled prominent share in Latin America cloud infrastructure market followed by private cloud owing to growing requirement for cost effective solutions for data storage.
Segmentation by Public Cloud Services
Cloud advertising public cloud services registered the regional cloud infrastructure market commonly attributed to surge in number of SMEs and fluctuating perception of organization and consumers about the advantage and profitability of digital technology.
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Segmentation by Private Cloud Services
Managed Hosting controlled the maximum share in regional cloud infrastructure market due to high frequency bandwidth improved infrastructure and unremitting security followed by co- location services.
Segmentation by End-User Industry
Since, in Telecom & IT sector enormous amount of data is generated, due to this, the segment has emerged as the greatest adopter of cloud computing and registered for major share in the region and is projected maintain its dominance throughout the forecasted period.
Segmentation by Country
Brazil constitutes as the greatest computing services market in Latin America followed by Argentina, Chile as the country presents itself as one of the mature IT markets around Latin America which has also attracted several SMBs to implement the cloud computing solutions.
Latin America Cloud Infrastructure Market Size
In terms of revenue, Latin America cloud infrastructure market displayed remarkable CAGR growth throughout the forecasted duration; 2018-2024. Implementation of new technologies such as Internet of Things, Big Data, improvised mobility, cost efficacy, lowest environmental impact and uptake in cloud managed services underwrite as the major factors influencing the cloud infrastructure market in Latin America.
The large share is mainly attributed to the growing IT capacity requirements and augmenting the adoption of new data center technologies. The cloud infrastructure market in the Latin America will also develop exponentially, due to a significant number of organizations adapting for cloud services to save their upfront expenditure of building new data centers for business continuity is the foremost factor propelling the market.
Key Companies & Market Share Insights
Partnerships, strategic mergers, and acquisitions are projected to be the most effective manners for industry players to obtain quick admittance to emerging markets and improve the technological capabilities. For instance, during October 2020, International Business Machines Corporation announced its plan of enlarging hybrid cloud growth strategy and execute spin-off of market-leading managed infrastructure services unit. This will help the company to focus on business enlargement strategies.
GROWTH PROSPECTS IN LATIN AMERICA TO BOOST THE MARKET GROWTH OF CLOUD INFRASTRUCTURE
During the review period, the Latin America region is anticipated to propel substantial growth opportunities. A few factors propelling cloud infrastructure adoption in this region are the augmenting availability of skilled labour and the keen emphasis provided by SMEs and large enterprises to join and enlarge in this region. Public cloud services, in particular, have exploded in acceptance in the Latin America region as businesses look to advance their digital initiatives. Cloud Infrastructure has become the cornerstone of how several companies work today, as they strive for higher business agility and customer satisfaction. Organisations are functioning to advance the application proficiency while still providing the positive customer experience.
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Latin America Cloud Infrastructure Market Growth
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