Cloud computing has created a level playing field in the IT market around the world. The cloud computing market in Latin-America region has changed a lot and is predicted to grow exponentially in the years to come. Surge in popularity of the service-oriented architectures has resulted in optimistic growth for cloud-computing in the Latin-American region. The service-oriented architecture aims to provide an IT framework that tends to favor organizations in managing their IT requirements and helps them to reduce the time it takes to implement cloud-based services. In addition, as consumers move to cloud computing, along with businesses of different sizes and structures, and different industries that understand the benefits of cloud services, are also increasing infrastructure investments in the cloud. Apart from this, introduction of new technologies such as the Big Data, Internet of Things, improvised mobility, minimal environmental impact, profitability, and the introduction of managed cloud services all contribute as the main drivers for the cloud infrastructure market in Latin America.
As per 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 (BFSI, Retail, Telecom & IT, Healthcare, Media & Entertainment, Government Agencies, Energy, Education, Manufacturing, Other Industries)” the key companies operating in the Latin America cloud infrastructure market include Google Inc., DXC Technology Company, HP Inc., IBM Corporation, Cisco System Inc., Equinix Inc., AT&T Inc, Amazon Web Services Inc., Salesforce.com, Rackspace Hosting Inc. and among others. Leading companies have been dynamic in this sector for several years and have a diversified product portfolio, innovative technologies and strong sales networks worldwide.
Companies use the cloud infrastructure to get support from cloud computing to do their day-to-day work and continue their operations. Cloud infrastructures are typically accessed through a pay-as-you-go model, as opposed to payment structures that allow users to subscribe to provider services at a fixed price or subscription-based pricing models. Instead of buying the cloud infrastructure from a provider, companies can also build their own on-site cloud infrastructure. An organization that uses a service provider cloud is known as a public cloud. When a company uses its own infrastructure, it is known as a private cloud: when a company uses parts of its public and private infrastructure, this is known as a hybrid cloud.
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The cloud infrastructure enables the organization or business to manage traditional workload data using an open private cloud deployment model. Organizations provide a cohesive infrastructure based on the cloud as a service to make new investments, technologies, and upgrades to better capture and position them in the marketplace and improve manageability. Cloud infrastructure services are commonly used in all major industries including government, telecommunications, healthcare, banking, manufacturing, financial services, and others. The global adoption rate of cloud infrastructure services is increasing due to the increasing implementation rate in the Latin America region.
High penetration of hybrid clouds, followed by rise in demand of organizations for agile, scalable, and cost-effective computing and increase in Information & Communications Technology (ICT) spending and growth in trend for adopting big data analytics are some major factors, which are responsible for growth of the Global Latin America Cloud Infrastructure Market. Apart from this, decline in demand for server hardware owing to consolidation & virtualization of servers may impact the market. Moreover, growth of analytics market and high adoption rate in small and medium-sized businesses (SMBS) are leading opportunities for market. Furthermore, data transfer & application issues and workload complexities in cloud environment are key challenges for market.
To better understand the geographic penetration of the cloud services market in the Latin American region, the market will be analyzed based on its scope in countries such as Brazil, Argentina, Chile, and the rest of Latin America. Brazil is the largest IT services market in Latin America, followed by Chile, Argentina and Mexico. It has managed to grab the attention of many cloud service providers around the world and has generated a very competitive environment. Brazil is presented as one of the mature IT markets in Latin America, which prompts the presence of several SMEs to implement cloud computing solutions, which attracts several new providers to enter the market, which will contribute to the growth of the cloud computing market in the respective market Region.
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Ankur Gupta, Head Marketing & Communications