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Information Technology (IT) Services Market in Latin America 2025-2029

The document provides a comprehensive analysis of the Information Technology (IT) Services Market in Latin America for the period 2025-2029, including market size, segmentation, and growth forecasts. It covers various aspects such as market drivers, challenges, and competitive landscape, along with detailed insights into specific services and geographic performance. The report is structured into multiple sections, including executive summary, market sizing, qualitative analysis, and customer landscape.

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0% found this document useful (0 votes)
88 views187 pages

Information Technology (IT) Services Market in Latin America 2025-2029

The document provides a comprehensive analysis of the Information Technology (IT) Services Market in Latin America for the period 2025-2029, including market size, segmentation, and growth forecasts. It covers various aspects such as market drivers, challenges, and competitive landscape, along with detailed insights into specific services and geographic performance. The report is structured into multiple sections, including executive summary, market sizing, qualitative analysis, and customer landscape.

Uploaded by

Antonio Roa
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Information Technology (IT) Services Market in


Latin America 2025-2029

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TABLE OF CONTENTS

1 Executive Summary .............................................................................................................................................. 11


1.1 Market overview....................................................................................................................................................... 12
Executive Summary - Chart on Market Overview............................................................................................................. 12
Executive Summary - Data Table on Market Overview .................................................................................................... 12
Executive Summary - Chart on Country Market Characteristics ..................................................................................... 13
Executive Summary - Chart on Market by Geography ..................................................................................................... 14
Executive Summary - Chart on Market Segmentation by Type ....................................................................................... 15
Executive Summary - Chart on Market Segmentation by Deployment ........................................................................... 16
Executive Summary - Chart on Incremental Growth ........................................................................................................ 17
Executive Summary - Data Table on Incremental Growth ............................................................................................... 17
Executive Summary - Chart on Company Market Positioning......................................................................................... 18

2 Technavio Analysis .............................................................................................................................................. 19


2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria .......... 20
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Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria ................... 20
2.2 Criticality of inputs and Factors of differentiation.................................................................................................. 21
Overview on criticality of inputs and factors of differentiation ...................................................................................... 21
2.3 Factors of disruption ............................................................................................................................................... 22
Overview on factors of disruption ................................................................................................................................... 22
2.4 Impact of drivers and challenges ............................................................................................................................ 23
Impact of drivers and challenges in 2024 and 2029 ....................................................................................................... 23

3 Market Landscape................................................................................................................................................ 24
3.1 Market ecosystem ................................................................................................................................................... 25
Parent Market ................................................................................................................................................................... 25
Data Table on - Parent Market ......................................................................................................................................... 25
3.2 Market characteristics ............................................................................................................................................. 31
Market characteristics analysis ....................................................................................................................................... 31
3.3 Value chain analysis ................................................................................................................................................ 33
Value chain analysis ........................................................................................................................................................ 33

4 Market Sizing ....................................................................................................................................................... 36

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4.1 Market definition...................................................................................................................................................... 37
Offerings of companies included in the market definition ............................................................................................. 37
4.2 Market segment analysis ........................................................................................................................................ 38
Market segments ............................................................................................................................................................. 38
4.3 Market size 2024 ..................................................................................................................................................... 39
4.4 Market outlook: Forecast for 2024-2029 ................................................................................................................ 41
Chart on Latin America - Market size and forecast 2024-2029 ($ million) .................................................................... 41
Data Table on Regional - Market size and forecast 2024-2029 ($ million)..................................................................... 41
Chart on Latin America: Year-over-year growth 2024-2029 (%) ...................................................................................... 42
Data Table on Regional - Market size and forecast 2024-2029 ($ million)..................................................................... 43

5 Historic Market Size ............................................................................................................................................. 45


5.1 Information Technology (IT) Services Market in Latin America 2019 - 2023......................................................... 46
Historic Market Size - Data Table on Information Technology (IT) Services Market in Latin America 2019 - 2023 ($
million) ............................................................................................................................................................................. 46
5.2 Type segment analysis 2019 - 2023 ........................................................................................................................ 47
Historic Market Size - Type Segment 2019 - 2023 ($ million) ......................................................................................... 47
5.3 Deployment segment analysis 2019 - 2023 ............................................................................................................ 48
Historic Market Size - Deployment Segment 2019 - 2023 ($ million) ............................................................................. 48
5.4 Geography segment analysis 2019 - 2023 .............................................................................................................. 49
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Historic Market Size - Geography Segment 2019 - 2023 ($ million) ............................................................................... 49

6 Qualitative Analysis.............................................................................................................................................. 50
6.1 Impact of AI on Information Technology Services in Latin America ...................................................................... 51

7 Five Forces Analysis............................................................................................................................................. 53


7.1 Five forces summary ............................................................................................................................................... 54
Five forces analysis - Comparison between 2024 and 2029 .......................................................................................... 54
7.2 Bargaining power of buyers ..................................................................................................................................... 55
Bargaining power of buyers - Impact of key factors 2024 and 2029 .............................................................................. 55
7.3 Bargaining power of suppliers................................................................................................................................. 56
Bargaining power of suppliers - Impact of key factors in 2024 and 2029 ...................................................................... 56
7.4 Threat of new entrants ............................................................................................................................................ 57
Threat of new entrants - Impact of key factors in 2024 and 2029 .................................................................................. 57
7.5 Threat of substitutes ............................................................................................................................................... 58
Threat of substitutes - Impact of key factors in 2024 and 2029 .................................................................................... 58
7.6 Threat of rivalry........................................................................................................................................................ 59
Threat of rivalry - Impact of key factors in 2024 and 2029 ............................................................................................. 59

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7.7 Market condition ...................................................................................................................................................... 60
Chart on Market condition - Five forces 2024 and 2029 ................................................................................................. 60

8 Market Segmentation by Type............................................................................................................................... 61


8.1 Market segments ..................................................................................................................................................... 62
Chart on Type - Market share 2024-2029 (%) .................................................................................................................. 62
Data Table on Type - Market share 2024-2029 (%) .......................................................................................................... 63
8.2 Comparison by Type ................................................................................................................................................ 64
Chart on Comparison by Type .......................................................................................................................................... 64
Data Table on Comparison by Type ................................................................................................................................. 64
8.3 Project oriented service - Market size and forecast 2024-2029............................................................................. 65
Chart on Project oriented service - Market size and forecast 2024-2029 ($ million) .................................................... 65
Data Table on Project oriented service - Market size and forecast 2024-2029 ($ million) ............................................ 65
Chart on Project oriented service - Year-over-year growth 2024-2029 (%) ..................................................................... 66
Data Table on Project oriented service - Year-over-year growth 2024-2029 (%) ............................................................ 66
8.4 Enterprise cloud computing service - Market size and forecast 2024-2029.......................................................... 68
Chart on Enterprise cloud computing service - Market size and forecast 2024-2029 ($ million) ................................. 68
Data Table on Enterprise cloud computing service - Market size and forecast 2024-2029 ($ million) ......................... 68
Chart on Enterprise cloud computing service - Year-over-year growth 2024-2029 (%) .................................................. 69
Data Table on Enterprise cloud computing service - Year-over-year growth 2024-2029 (%) ......................................... 69
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8.5 IT outsourcing service - Market size and forecast 2024-2029 ............................................................................... 71


Chart on IT outsourcing service - Market size and forecast 2024-2029 ($ million) ....................................................... 71
Data Table on IT outsourcing service - Market size and forecast 2024-2029 ($ million) .............................................. 71
Chart on IT outsourcing service - Year-over-year growth 2024-2029 (%) ....................................................................... 72
Data Table on IT outsourcing service - Year-over-year growth 2024-2029 (%) ............................................................... 72
8.6 IT support and training service - Market size and forecast 2024-2029.................................................................. 74
Chart on IT support and training service - Market size and forecast 2024-2029 ($ million) ......................................... 74
Data Table on IT support and training service - Market size and forecast 2024-2029 ($ million) ................................. 74
Chart on IT support and training service - Year-over-year growth 2024-2029 (%) .......................................................... 75
Data Table on IT support and training service - Year-over-year growth 2024-2029 (%) ................................................. 75
8.7 Market opportunity by Type ..................................................................................................................................... 77
Market opportunity by Type ($ million)............................................................................................................................ 77
Data Table on Market opportunity by Type ($ million) .................................................................................................... 78

9 Market Segmentation by Deployment .................................................................................................................... 79


9.1 Market segments ..................................................................................................................................................... 80
Chart on Deployment - Market share 2024-2029 (%) ...................................................................................................... 80

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Data Table on Deployment - Market share 2024-2029 (%) .............................................................................................. 81
9.2 Comparison by Deployment .................................................................................................................................... 82
Chart on Comparison by Deployment .............................................................................................................................. 82
Data Table on Comparison by Deployment ..................................................................................................................... 82
9.3 Hosted service - Market size and forecast 2024-2029 ........................................................................................... 83
Chart on Hosted service - Market size and forecast 2024-2029 ($ million) ................................................................... 83
Data Table on Hosted service - Market size and forecast 2024-2029 ($ million) .......................................................... 83
Chart on Hosted service - Year-over-year growth 2024-2029 (%) ................................................................................... 84
Data Table on Hosted service - Year-over-year growth 2024-2029 (%) ........................................................................... 84
9.4 Managed service - Market size and forecast 2024-2029........................................................................................ 86
Chart on Managed service - Market size and forecast 2024-2029 ($ million) ............................................................... 86
Data Table on Managed service - Market size and forecast 2024-2029 ($ million) ....................................................... 86
Chart on Managed service - Year-over-year growth 2024-2029 (%) ................................................................................ 87
Data Table on Managed service - Year-over-year growth 2024-2029 (%) ....................................................................... 87
9.5 Market opportunity by Deployment ......................................................................................................................... 89
Market opportunity by Deployment ($ million) ................................................................................................................ 89
Data Table on Market opportunity by Deployment ($ million) ........................................................................................ 90

10 Customer Landscape ........................................................................................................................................... 91


10.1 Customer landscape overview ............................................................................................................................ 92
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Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria ................... 92

11 Geographic Landscape ......................................................................................................................................... 94


11.1 Geographic segmentation ................................................................................................................................... 95
Chart on Market share by geography - 2024-2029 (%) .................................................................................................... 95
Data Table on Market share by geography - 2024-2029 (%)............................................................................................ 96
11.2 Geographic comparison ...................................................................................................................................... 97
Chart on Geographic comparison .................................................................................................................................... 97
Data Table on Geographic comparison ........................................................................................................................... 97
11.3 Brazil - Market size and forecast 2024-2029 ...................................................................................................... 98
Chart on Brazil - Market size and forecast 2024-2029 ($ million) .................................................................................. 98
Data Table on Brazil - Market size and forecast 2024-2029 ($ million).......................................................................... 98
Chart on Brazil - Year-over-year growth 2024-2029 (%) .................................................................................................. 99
Data Table on Brazil - Year-over-year growth 2024-2029 (%) .......................................................................................... 99
11.4 Mexico - Market size and forecast 2024-2029 ................................................................................................. 101
Chart on Mexico - Market size and forecast 2024-2029 ($ million) ............................................................................. 101
Data Table on Mexico - Market size and forecast 2024-2029 ($ million) ..................................................................... 101

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Chart on Mexico - Year-over-year growth 2024-2029 (%) .............................................................................................. 102
Data Table on Mexico - Year-over-year growth 2024-2029 (%) ..................................................................................... 102
11.5 Argentina - Market size and forecast 2024-2029 ............................................................................................. 104
Chart on Argentina - Market size and forecast 2024-2029 ($ million) ......................................................................... 104
Data Table on Argentina - Market size and forecast 2024-2029 ($ million) ................................................................. 104
Chart on Argentina - Year-over-year growth 2024-2029 (%) .......................................................................................... 105
Data Table on Argentina - Year-over-year growth 2024-2029 (%) ................................................................................. 105
11.6 Colombia - Market size and forecast 2024-2029 .............................................................................................. 107
Chart on Colombia - Market size and forecast 2024-2029 ($ million).......................................................................... 107
Data Table on Colombia - Market size and forecast 2024-2029 ($ million) ................................................................. 107
Chart on Colombia - Year-over-year growth 2024-2029 (%) .......................................................................................... 108
Data Table on Colombia - Year-over-year growth 2024-2029 (%) .................................................................................. 108
11.7 Rest of Latin America - Market size and forecast 2024-2029 .......................................................................... 110
Chart on Rest of Latin America - Market size and forecast 2024-2029 ($ million) ...................................................... 110
Data Table on Rest of Latin America - Market size and forecast 2024-2029 ($ million) ............................................. 110
Chart on Rest of Latin America - Year-over-year growth 2024-2029 (%) ...................................................................... 111
Data Table on Rest of Latin America - Year-over-year growth 2024-2029 (%) .............................................................. 111
11.8 Market opportunity by geography ..................................................................................................................... 113
Market opportunity by geography ($ million) ................................................................................................................ 113
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Data Table on Market opportunity by geography ($ million) ......................................................................................... 113

12 Drivers, Challenges, and Opportunity/Restraints .................................................................................................. 115


12.1 Market drivers .................................................................................................................................................... 116
12.2 Market challenges ............................................................................................................................................. 118
12.3 Impact of drivers and challenges ...................................................................................................................... 120
Impact of drivers and challenges in 2024 and 2029 ..................................................................................................... 120
12.4 Market opportunities/restraints ........................................................................................................................ 122

13 Competitive Landscape ...................................................................................................................................... 124


13.1 Overview ............................................................................................................................................................ 125
13.2 Competitive Landscape ..................................................................................................................................... 126
Overview on criticality of inputs and factors of differentiation .................................................................................... 126
13.3 Landscape disruption ........................................................................................................................................ 127
Overview on factors of disruption ................................................................................................................................. 127
13.4 Industry risks ..................................................................................................................................................... 128
Impact of key risks on business .................................................................................................................................... 128

14 Competitive Analysis .......................................................................................................................................... 129

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14.1 Companies profiled ........................................................................................................................................... 130
Companies covered........................................................................................................................................................ 130
14.2 Company ranking index ..................................................................................................................................... 132
Company ranking index.................................................................................................................................................. 132
14.3 Market positioning of companies ..................................................................................................................... 133
Matrix on companies position and classification ......................................................................................................... 133
14.4 Accenture PLC ................................................................................................................................................... 135
Accenture PLC - Overview .............................................................................................................................................. 135
Accenture PLC - Business segments ............................................................................................................................. 135
Accenture PLC - Key news ............................................................................................................................................. 136
Accenture PLC - Key offerings ....................................................................................................................................... 137
Accenture PLC - Segment focus .................................................................................................................................... 137
SWOT .............................................................................................................................................................................. 137
14.5 Alphabet Inc. ...................................................................................................................................................... 138
Alphabet Inc. - Overview ................................................................................................................................................ 138
Alphabet Inc. - Business segments ............................................................................................................................... 138
Alphabet Inc. - Key offerings.......................................................................................................................................... 139
Alphabet Inc. - Segment focus....................................................................................................................................... 139
SWOT .............................................................................................................................................................................. 139
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14.6 Amazon.com Inc................................................................................................................................................ 140


Amazon.com Inc. - Overview ......................................................................................................................................... 140
Amazon.com Inc. - Business segments ........................................................................................................................ 140
Amazon.com Inc. - Key news ......................................................................................................................................... 141
Amazon.com Inc. - Key offerings................................................................................................................................... 141
Amazon.com Inc. - Segment focus ............................................................................................................................... 141
SWOT .............................................................................................................................................................................. 141
14.7 Atos SE............................................................................................................................................................... 143
Atos SE - Overview ......................................................................................................................................................... 143
Atos SE - Business segments ........................................................................................................................................ 143
Atos SE - Key news ......................................................................................................................................................... 144
Atos SE - Key offerings................................................................................................................................................... 144
Atos SE - Segment focus ............................................................................................................................................... 144
SWOT .............................................................................................................................................................................. 145
14.8 Capgemini Services SAS ................................................................................................................................... 146
Capgemini Services SAS - Overview .............................................................................................................................. 146
Capgemini Services SAS - Business segments ............................................................................................................. 146

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Capgemini Services SAS - Key news ............................................................................................................................. 147
Capgemini Services SAS - Key offerings ....................................................................................................................... 147
Capgemini Services SAS - Segment focus .................................................................................................................... 147
SWOT .............................................................................................................................................................................. 148
14.9 Cisco Systems Inc. ............................................................................................................................................ 149
Cisco Systems Inc. - Overview ....................................................................................................................................... 149
Cisco Systems Inc. - Business segments...................................................................................................................... 149
Cisco Systems Inc. - Key news ...................................................................................................................................... 150
Cisco Systems Inc. - Key offerings ................................................................................................................................ 150
Cisco Systems Inc. - Segment focus ............................................................................................................................. 150
SWOT .............................................................................................................................................................................. 151
14.10 Dell Technologies Inc. ....................................................................................................................................... 152
Dell Technologies Inc. - Overview .................................................................................................................................. 152
Dell Technologies Inc. - Business segments ................................................................................................................. 152
Dell Technologies Inc. - Key news ................................................................................................................................. 153
Dell Technologies Inc. - Key offerings ........................................................................................................................... 153
Dell Technologies Inc. - Segment focus ........................................................................................................................ 153
SWOT .............................................................................................................................................................................. 154
14.11 Deloitte Touche Tohmatsu Ltd. ......................................................................................................................... 155
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Deloitte Touche Tohmatsu Ltd. - Overview .................................................................................................................... 155


Deloitte Touche Tohmatsu Ltd. - Product / Service ...................................................................................................... 155
Deloitte Touche Tohmatsu Ltd. - Key offerings ............................................................................................................. 155
SWOT .............................................................................................................................................................................. 155
14.12 Ernst and Young Global Ltd. .............................................................................................................................. 157
Ernst and Young Global Ltd. - Overview ........................................................................................................................ 157
Ernst and Young Global Ltd. - Product / Service ........................................................................................................... 157
Ernst and Young Global Ltd. - Key offerings .................................................................................................................. 157
SWOT .............................................................................................................................................................................. 157
14.13 HCL Technologies Ltd. ...................................................................................................................................... 159
HCL Technologies Ltd. - Overview ................................................................................................................................. 159
HCL Technologies Ltd. - Business segments ................................................................................................................ 159
HCL Technologies Ltd. - Key news ................................................................................................................................ 160
HCL Technologies Ltd. - Key offerings .......................................................................................................................... 160
HCL Technologies Ltd. - Segment focus ....................................................................................................................... 160
SWOT .............................................................................................................................................................................. 161
14.14 Hewlett Packard Enterprise Co. ........................................................................................................................ 162

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Hewlett Packard Enterprise Co. - Overview ................................................................................................................... 162
Hewlett Packard Enterprise Co. - Business segments .................................................................................................. 162
Hewlett Packard Enterprise Co. - Key news .................................................................................................................. 163
Hewlett Packard Enterprise Co. - Key offerings ............................................................................................................ 163
Hewlett Packard Enterprise Co. - Segment focus ......................................................................................................... 163
SWOT .............................................................................................................................................................................. 164
14.15 International Business Machines Corp. ............................................................................................................ 165
International Business Machines Corp. - Overview....................................................................................................... 165
International Business Machines Corp. - Business segments...................................................................................... 165
International Business Machines Corp. - Key news ...................................................................................................... 166
International Business Machines Corp. - Key offerings ................................................................................................ 166
International Business Machines Corp. - Segment focus ............................................................................................. 167
SWOT .............................................................................................................................................................................. 167
14.16 KPMG International Ltd. .................................................................................................................................... 168
KPMG International Ltd. - Overview ............................................................................................................................... 168
KPMG International Ltd. - Product / Service ................................................................................................................. 168
KPMG International Ltd. - Key offerings ........................................................................................................................ 168
SWOT .............................................................................................................................................................................. 168
14.17 Microsoft Corp. .................................................................................................................................................. 170
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Microsoft Corp. - Overview ............................................................................................................................................ 170


Microsoft Corp. - Business segments ........................................................................................................................... 170
Microsoft Corp. - Key news ............................................................................................................................................ 171
Microsoft Corp. - Key offerings...................................................................................................................................... 171
Microsoft Corp. - Segment focus................................................................................................................................... 172
SWOT .............................................................................................................................................................................. 172
14.18 PricewaterhouseCoopers LLP ........................................................................................................................... 173
PricewaterhouseCoopers LLP - Overview...................................................................................................................... 173
PricewaterhouseCoopers LLP - Product / Service ........................................................................................................ 173
PricewaterhouseCoopers LLP - Key offerings ............................................................................................................... 173
SWOT .............................................................................................................................................................................. 174

15 Appendix ........................................................................................................................................................... 175


15.1 Scope of the report ............................................................................................................................................ 176
15.2 Inclusions and exclusions checklist ................................................................................................................. 178
Inclusions checklist ....................................................................................................................................................... 178
Exclusions checklist....................................................................................................................................................... 178

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15.3 Currency conversion rates for US$.................................................................................................................... 179
Currency conversion rates for US$ ................................................................................................................................ 179
15.4 Research methodology ...................................................................................................................................... 180
Research methodology .................................................................................................................................................. 180
15.5 Data procurement .............................................................................................................................................. 181
Information sources ....................................................................................................................................................... 181
15.6 Data validation ................................................................................................................................................... 182
Data validation ............................................................................................................................................................... 182
15.7 Validation techniques employed for market sizing .......................................................................................... 183
Validation techniques employed for market sizing ....................................................................................................... 183
15.8 Data synthesis ................................................................................................................................................... 184
Data synthesis ................................................................................................................................................................ 184
15.9 360 degree market analysis .............................................................................................................................. 185
360 degree market analysis ........................................................................................................................................... 185
15.10 List of abbreviations .......................................................................................................................................... 186
List of abbreviations ...................................................................................................................................................... 186
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01
Executive Summary
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1.1 Market overview

Executive Summary - Chart on Market Overview


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Executive Summary - Data Table on Market Overview

2024 2025 2026 2027 2028 2029

Market 109,392.0 117,778.7 127,258.3 138,036.8 150,371.9 164,589.7


size ($ mn)

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Executive Summary - Chart on Country Market Characteristics
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Executive Summary - Chart on Market by Geography
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Executive Summary - Chart on Market Segmentation by Type
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Executive Summary - Chart on Market Segmentation by Deployment
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Executive Summary - Chart on Incremental Growth
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Executive Summary - Data Table on Incremental Growth

2024 2029

Market size ($ mn) 109,392.0 164,589.7

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Executive Summary - Chart on Company Market Positioning
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02
Technavio Analysis
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2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates,
and purchase criteria

Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase
criteria
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2.2 Criticality of inputs and Factors of differentiation

Overview on criticality of inputs and factors of differentiation


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2.3 Factors of disruption

Overview on factors of disruption


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2.4 Impact of drivers and challenges

Impact of drivers and challenges in 2024 and 2029


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03
Market Landscape
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3.1 Market ecosystem

The information technology (IT) services market in Latin America is a part of the global it consulting and other
services market. The global it consulting and other services market was valued at $486.12 billion in 2021 and
reached $557.35 billion in 2023.

The global it consulting and other services market witnessed an incremental growth of $71.2 billion and
registered a CAGR of 7.1% from 2021 to 2023.

Parent Market
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Data Table on - Parent Market

Year 2021 2022 2023

Market size ($ bn) 486.12 524.5 557.35

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The super parent global IT services market covers companies offering IT consulting and system integration
services, application services, electronic data processing services, business process outsourcing services,
infrastructure services, and Internet services. The global IT consulting and other services market covers
companies that provide information technology consulting and information management services.

Technavio calculates the global IT consulting and other services market size based on combined revenue
generated by companies engaged in the provision of all types of IT consulting and information management
services. It includes the annual revenues generated by the companies through the execution of IT service
contracts.

Growth in the global IT consulting and other services market will be driven by the following factors:

• Increasing government investments in IT infrastructure: Government agencies in several countries lack


employees possessing expertise in current IT skills. Thus, they mainly rely on the services of IT consulting
firms in several areas, such as defense systems, social security, benefits administration, and maintaining
information systems of state-run agencies, including educational institutions. Furthermore, various
government organizations across North America and Europe are also expanding their IT budgets to
upgrade or install new IT infrastructure to provide better services to their citizens. For instance, on 8th
August 2023, the Government of India chose Tata Consultancy Services as a key partner to upgrade the
Government e-Marketplace (GeM) into a cutting-edge public procurement platform with more openness,
efficacy, and inclusion. The GeM platform offers a complete online marketplace for federal and state
government agencies, as well as public sector organizations, to acquire goods and services efficiently and
transparently for common usage. With over 6.5 million sellers and service providers, including more than
800,000 medium and small businesses, this e-marketplace presently manages a Gross Merchandise Value
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(GMV) of more than $2 trillion. Even while the current platform is effective, expanding it and adapting to
changing client and seller needs are architecturally difficult. Thus, as government investment in IT
infrastructure increases, the demand for IT consulting and other services is expected to rise during the
forecast period.

• Enterprise investments in upgrading IT infrastructure: Enterprises' legacy IT infrastructure cannot fully


support the increasing computing requirements of the applications being deployed by enterprises. IT
infrastructure upgrades enable an enterprise to ensure that all enterprise applications run seamlessly, and
application performance is optimal. Companies usually approach IT consulting firms to advise them on the
optimum IT infrastructure configuration for their computing requirements. Hardware and cloud computing
investments emphasize the importance of creating a robust infrastructure. There is no doubt that
businesses want flexibility in where they may relocate workloads rather than going all-in on public clouds.
Claret data management practices are becoming more crucial as more data is processed and stored
globally on devices. Technology leaders will step up efforts in 2025 to use an integrated data fabric
architecture to manage their distributed data, employing a standard set of workflows and workloads that
can be deployed across environments independent of physical location. Helping to get data into the hands
of the appropriate team members when they need it, helps to create an environment that is more
conducive to business innovation. Hence, as enterprises upgrade their legacy IT infrastructure, the demand
for IT consulting and other services is expected to increase during the forecast period.

• Increasing adoption of advanced technologies: Companies are increasingly investing in advanced


technologies such as big data analytics, artificial intelligence (AI), and cloud-based computing to reduce

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costs, increase their operational efficiencies, and remain competitive. Several companies, especially small-
and medium-sized companies, lack the in-house technical expertise to plan, design, and implement such
advanced technologies. Hence, they engage the services of IT consulting firms that possess experience in
the implementation of such projects. IT consultants may concentrate on more challenging and important
projects by automating repetitive and time-consuming work using AI technologies like machine learning
and natural language processing. As a result, IT consulting engagements take less time and effort and are
more efficient. AI platforms can evaluate massive amounts of data and offer insightful analysis and
suggestions to IT consultants. This enables consultants to provide their customers with improved
outcomes and business results by assisting them in making more informed and data-driven decisions.
Virtual assistants and chatbots powered by AI can offer clients around-the-clock assistance by responding
to their questions and addressing problems in a timely and correct manner. As a result, customers are
more satisfied, and IT consultants have less work to do, which frees them up to focus on projects of higher
value. It is expected to drive the growth of the IT consulting and other services market during the forecast
period.

• Need for better business productivity: The need to improve business productivity and gain competitive
advantage, such as optimization of capacity, reduction of lead time and cost, and increased profitability
through IT infrastructure, is a major factor that drives the market. IT consulting and infrastructure
management services enhance the organizational process by improving quality control and inventory
control, which, in turn, helps organizations improve their productivity and efficiency. The increasing
importance of scalable IT systems is leading enterprises to look for business solutions that can accelerate
the growth of an organization by effectively managing business management services. During the COVID-
19 pandemic, many companies availed infrastructure services to improve productivity, meet business
demands, and remain competitive in the market. This increased the requirement for consulting and other
infrastructure-related services.
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• Increasing Agile and DevOps methodologies: The global IT consulting and other services market is
heavily reliant on the Agile and DevOps approaches. In a market that moves quickly and is rapidly evolving,
these techniques put a strong emphasis on enhancing collaboration, efficiency, and the provision of high-
quality goods and services. Agile planning, iterative development, and strong client collaboration are
prioritized. Projects can be divided into smaller, more manageable modules or sprints to help consulting
businesses swiftly provide additional value to clients. Customers can offer feedback at any time during the
development process because of this method, which guarantees that their changing demands are handled
in a useful way. Agile also encourages cross-functional teams, improving cooperation and communication
among various project stakeholders. On the other hand, the DevOps methodology focuses on closing the
gap between IT operations (Ops) and software development (Dev). It encourages continuous delivery,
integration, and deployment of software, allowing consulting businesses to provide services and solutions
more quickly. DevOps technique automates procedures, which lowers errors, increases productivity, and
allows consultants to react more swiftly to shifting client needs or market trends. Since it offers a
comprehensive approach to project management and service delivery, the combination of Agile and
DevOps techniques is growing in popularity in the IT consulting industry. It enables consulting companies
to serve customers more effectively, boost customer satisfaction, and react rapidly to market
developments. These approaches also make it easier to adapt to modern technologies, like artificial
intelligence and cloud computing, which are revolutionizing the field of IT consulting.

Some of the key issues faced by the global IT consulting and other services market include:

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• Maintaining ongoing, profitable client demand: The success of IT consulting firms depends on
generating and maintaining ongoing profitable client demand for their services. However, the increasing
adoption of cloud services is replacing some of the historical services offered by the leading players and
will continue to do so. Thus, the existing clients of IT consulting companies may delay spending under
existing engagements and contracts, as well as enter into new contracts while evaluating new
technologies. IT consulting firms are finding it difficult to evolve their offerings to keep up with the rapidly
changing technological landscape, thereby reducing the demand for their services.

• Intense competition among vendors: The global IT consulting and other services market is highly
competitive due to the presence of several companies ranging from large multinational enterprises to
smaller companies with niche areas of expertise. The rapid technological developments coupled with low
entry barriers have led to the entry of several new companies, which have quickly created a niche market
for their services. The nature of the services provided allows smaller companies specializing in new
technology to capture a chunk of the IT consulting services market at the expense of the established
players. Furthermore, smaller vendors offering innovative and specialized services are also increasingly
being acquired by or merged with larger vendors, thereby resulting in market consolidation. The
competition in the market is expected to intensify in the forecast period as the rapidly evolving
technological landscape continues to encourage new IT consulting and systems integration firms to enter
the market.

• Non-availability of skilled professionals: The information technology sector is continually changing, and
new technologies are developing quickly. Skilled professionals must regularly refresh their knowledge and
abilities to stay current with these developments. The sector is fast-paced, nevertheless, there can be a
shortage of experienced workers with current knowledge of cutting-edge technologies. The abilities that
job seekers possess and the skills that businesses demand frequently differ. New skill requirements are
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created by technological development and shifting market expectations, which the current workforce
might not be able to meet. Companies must hire or reskill, retain, and motivate appropriate numbers of
talented people with varied skills to serve clients across the world and adapt quickly to the rapid changes
in technology and the industry. However, there is intense competition in the market to hire the right talent
with capabilities in new technologies. Businesses from all over the world are striving for the expertise of
skilled employees in the IT industry. Companies struggle to find and keep talented personnel due to the
fierce talent competition. Hence, companies may not be able to cost-effectively hire and retain employees
with such skills, which may cause them to incur increased costs.

• Continuous change in IT training modules: The dynamic nature of the IT industry, due to the frequent
introduction of new technologies and programming languages, necessitates the frequent development of
training modules. Growing advances and innovations in the market related to technologies such as AI, ML,
blockchain, cloud computing, advanced analytics, big data, IoT, virtual assistants, automated vehicles, and
augmented and virtual reality directly or indirectly impact various enterprises and industries. This leads to
an increase in the demand for upgraded training modules that incorporate advanced technologies.
Employees in any organization frequently need to upgrade their skills as per changes in the industry.
Therefore, to keep training modules effective amid changes, market vendors need to keep track of
emerging technologies and skills and update training modules accordingly, which increases the
operational cost for vendors.

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• Increasing cybersecurity Concerns in the global IT consulting and other services market: Malware,
ransomware, phishing, insider threats, and other threats are all part of the increasingly complicated
cybersecurity situation. To give their clients useful security recommendations, IT consulting businesses
must stay up to date on these threats and their changing strategies. The significance of strong data
protection procedures has been underlined by high-profile data breaches. Consulting companies must
guide clients through data privacy laws like GDPR and CCPA. They must participate in developing policies
that protect sensitive data and guarantee compliance. The cybersecurity regulatory landscape is quickly
changing. The IT consultation process becomes more difficult as new laws and compliance standards are
frequently passed. It is a constant challenge to stay informed and assist clients in adhering to these rules.
Numerous cyberattacks target the supply chain, taking advantage of flaws in partners and third-party
providers. IT consulting companies must evaluate and reduce these risks in their clients' wider
ecosystems. Businesses that lack internal cybersecurity knowledge may seek advice from IT consulting
services. Providing thorough and efficient cybersecurity services is difficult due to the industry-wide
shortage of qualified cybersecurity personnel. IT consulting companies frequently have to strike a
compromise between user experience and security safeguards. It is important to carefully assess how
implementing strict security restrictions may affect systems' usability and functionality.

The global economy is stagnating. Global economic growth contracted to 2.6% in 2024, just above the 2.5%
threshold commonly associated with a recession. This is stark in contrast when compared between 2015 and
2019, when global economic growth averaged 3.2%. In a stagnant global economy, the IT consulting sector
may face reduced demand as businesses prioritize cost-cutting measures over technology investments.
Organizations may defer or scale back IT projects, leading to decreased consulting revenues. Increased
competition may drive firms to lower fees, squeezing profit margins. Additionally, firms may prioritize existing
client relationships over acquiring new customers, limiting growth opportunities. Investment in research and
development and innovation may decline as companies focus on immediate financial stability, hindering the
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development of innovative solutions. As economic uncertainty persists, firms may need to adapt quickly to
changing client needs and market conditions to remain competitive.

The global IT consulting and other services market is at a crossroads, with the market having a positive
impact due to factors such as the increasing government and enterprise investments in upgrading their IT
infrastructure and rising adoption of advanced technologies such as AI, IoT, big data, and others. On the other
hand, factors such as the difficulty in maintaining ongoing, profitable client demand, intense competition, and
the non-availability of skilled professionals are restricting the growth of the market.

The global IT consulting and other services market can be broadly classified into the following segments:

IT consulting services:

• Systems planning and design consulting: It includes services related to the design, development, and
overhaul of IT systems (including data center, networking, infrastructure, and software), as well as the
planning phase relating to IT systems integration.

• Application development: It includes custom application design and development services.

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• IT infrastructure consulting: It includes IT network and security infrastructure design and management
services, which help enterprises manage and monitor IT infrastructure performance, data routing, and
security regularly. Security consulting includes architectural planning, policy design, process engineering,
incident response planning, disaster recovery, and business continuity planning services.

• Technical support services: It includes the provision of technical support services for solving problems
related to software, hardware, or the entire IT environment.

• Technical consulting services: It includes the provision of strategic consulting services related to all
aspects of IT, including hardware, software, procurement of systems, and security.

• Other IT consulting services: It includes miscellaneous services such as domain name registration, custom
database design and development, website design and development, temporary technical staffing,
licensing rights, and resale of computer hardware and software.

Systems integration services:

• Hardware integration: It includes services that help integrate the enterprise's existing hardware systems,
such as building management system (BMS), cloud integration, integrated communication, data center
infrastructure management (DCIM), network integration, and others.

• Application integration: It includes services that help integrate enterprises' existing software and data
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environment.

• Cloud migration services: These include services for enterprises to upgrade existing underlying data center
infrastructure or application delivery through cloud computing infrastructure (including networking,
security, storage, and application).

Other services:

• Information management services: This includes services that guide enterprises to define and develop the
information management processes, standards, architecture, and tools, and harness the full potential of
enterprise data assets.

• Education and training services: It includes investments made with IT consultants to provide training and
education services to an enterprise's in-house IT staff.

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3.2 Market characteristics

Market characteristics analysis


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To assess the characteristics and behavior of the information technology (IT) services market in Latin
America, the interplay of market participants and external forces is analyzed. The information technology (IT)
services market in Latin America was at the growth stage and exhibited a fragmented market environment in
terms of participants in 2024.

The most significant market behavior of participants was innovations in 2024. The considerable market
behavior of participants was mergers and acquisitions in 2024. Regulatory control was a significant force that
impacted market in 2024. Disruption threat was an important force that impacted market in 2024.
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3.3 Value chain analysis

Value chain analysis


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The IT consulting and other services value chain includes processes such as pitching and profiling (brand and
network building, industry and client insights, and selling and pricing); resourcing and communicating
(workflow and process design, project management and resource planning, and client interaction and co-
creation); delivering and controlling (commercial and technical capability, service delivery, quality assurance,
billing, and team engagement); and connecting and innovating (client relationship management, client
education, support, and service innovation).

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Inputs

The inputs in the IT consulting and other services market include land, financing, equipment suppliers, and
labor. The labor in the industry includes management executives, marketing professionals, and the human
resources engaged in direct operations.

Operations

• Pitching and profiling: Pitching and profiling operations ensure that firms understand the industrys and
clients business requirements and propose a better value proposition. Other prominent activities include
network and brand building to attract top talents and better referrals.

• Resourcing and communicating: Resourcing and communicating operations ensure that the firms
streamline the workflows using fewer resources for the required outputs. Other prominent activities
include project management, resource planning, better client engagement, and communication, thus
increasing the chances of value perceptions and client satisfaction.

• Delivery and support: Delivery and support operations ensure the prompt and effective delivery of
services to meet customers expectations. Other prominent support activities for service delivery include
the resolution of incidents, application and infrastructure monitoring, problem analyses, and the generation
of reports. The delivery and support staff must possess technical capabilities and specialize in activities
such as service delivery, quality assurance (QA), billing, and team engagement.
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• Connecting and innovating: Connecting and innovating operations in the IT consulting and other services
market include client relationship management, client education, support, and service innovation.

Marketing and sales

Marketing and sales activities include advertising, branding, and promotions. Several service providers focus
on improving their marketing activities by training their sales force and offering services such as customer
care support, which enhances the value of their offerings. Customer satisfaction plays an essential role in the
value chain and includes the effective functioning of all entities associated with the overall IT consulting and
other services value chain.

Service

This stage includes the follow-up management activities implemented by IT firms with their current clients.
Essential factors in service activities include following up for future projects; collaborations with existing
clients; strengthening access to existing clients through offline and online routes, such as sending
promotional materials, emails, and visits; continuously providing applicable industry information to clients;
and offering expanded customer value for future development areas and direction that can be applied based
on the results of development.

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Support activities

The support activities in the IT consulting and other services market include the purchasing of resources and
inputs, technology development, firm infrastructure development, and human resource management. The
implementation of the latest technology solutions ensures speed and accuracy during different processes and
enhances the quality of the final product. Another critical activity is human resource development as
upskilling initiatives for employees can improve their overall performance and competence. Thus, a good
supply network and the effective execution of all these support activities will enable companies to position
themselves well in the market and meet their strategic objectives.

Innovations

Factors such as the growing presence of freelance and network-based consultants and the establishment of
in-house consulting teams have made it imperative for vendors to invest in technology solutions and
implement innovative strategies to optimize production for long-term growth. The following are some of the
other innovative approaches being followed by vendors to ensure a sustainable market presence:

• Continued digitization to convert a time-based business model into a flat-rate system

• Implementation of digital strategies to revamp the existing business and operational models

• Continuous education and upskilling initiatives for employees


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• Adoption of test automation tools for software testing

• Adoption of artificial intelligence and machine learning solutions for software testing

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04
Market Sizing
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4.1 Market definition

Information technology services are defined as applications of businesses and technical expertise that allow
organizations to manage and optimize or access information and business processes. Information
technology services include various categories such as data processing and outsourcing, internet services
and infrastructure, information technology consulting, and other services.

Offerings of companies included in the market definition

Company Products/Services included in the market definition

Accenture PLC IT services

Alphabet Inc. IT services

Amazon.com Inc. IT services

Atos SE IT services

Capgemini Services SAS IT services

Cisco Systems Inc. IT services

Dell Technologies Inc. IT services


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Deloitte Touche Tohmatsu Ltd. IT services

Ernst and Young Global Ltd. IT services

HCL Technologies Ltd. IT services

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4.2 Market segment analysis

The information technology (IT) services market in Latin America has been analyzed based on various
dimensions and segments to help suppliers within the industry have a better understanding of the structure of
current demand and the components of demand, which will drive growth in the future. Suppliers in the
information technology (IT) services market in Latin America outperforming the overall industry are expected
to focus on the higher potential segments within the market.

Market segments

Segment name Description

Geography Latin America

Type Project oriented service, Enterprise cloud computing


service, IT outsourcing service, IT support and
training service
Deployment Hosted service, Managed service
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4.3 Market size 2024

To estimate the market size of market in focus, Technavio has tracked the recent trends and developments in
the industry. The market size has been developed by considering the following factors:

• The market size has been calculated based on the revenues generated by IT consulting, systems
integration, and IT training services providers. The market size excludes their contracts with their clients.

• Revenues: Taken in local currencies, if not available in US dollars, for each country and vendor and then
converted to US dollars using the yearly average currency exchange rate of 2024, the base year. This
implies that the figures reflect industry trends, not distorted by fluctuations in international exchange
rates.

• Currency: Unless explicitly mentioned, all revenues are represented in US dollars.

The market sizing has been built and validated using multiple demand-side and supply-side approaches for a
detailed understanding of the market in focus. The specific market sizing approaches used for evaluating the
market are:

• Top down: Validated the market based on the contribution of market under study to the overall IT
consulting and other services market
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• Bottom up: Validated the market based on the revenue of market in focus key vendors

• Primary research: Validation of Technavio estimates with inputs from industry participants across the
value chain, including, but not limited to, IT consulting, systems integration, and IT training service
providers

• Combination: Using a combination of more than one approaches described above and integrating the
results in data model

Within the above-mentioned market sizing models, analysts have made assumptions and estimates listed
below:

• Number of major IT consulting deals signed worldwide

• COVID-19 outbreak

• IT consulting revenues generated by services providers offering IT consulting services

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For this report, we have also used the following macro data in modeling the market size for 2024:

• GDP growth

• IT budgets allocated by central and state governments across major markets


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4.4 Market outlook: Forecast for 2024-2029

Chart on Latin America - Market size and forecast 2024-2029 ($ million)


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Data Table on Regional - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market 109,392.0 117,778.7 127,258.3 138,036.8 150,371.9 164,589.7


size ($ mn)

The information technology (IT) services market in Latin America was valued at $109,392.0 million in 2024
and is estimated to grow to $164,589.7 million in 2029. This will create an incremental growth opportunity
worth $55,197.7 million between 2024 and 2029, which translates to around 51% of the market size in 2024.
This represents significant growth opportunities for companies. Companies can continue to grow by
leveraging the inherent growth opportunities available within the market while avoiding direct competition.

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The overall growth of the information technology (IT) services market in Latin America is built on consistent
growth across all the years of the forecast period between 2024 and 2029. The year-on-year growth will vary
between a range of 7.7% and 9.5%.

Estimating growth rates for emerging and high-growth markets

Modeling developing and high-growth markets is a challenge given the uncertainties around the evolution of
the market. Hence, we start by developing an optimistic and pessimistic range and then use it to build a
realistic estimate of the market size based on various market modeling techniques and inputs from industry
participants.

Estimating growth rates for mature markets

Mature markets are characterized by stable and high adoption rates, having slower growth rates due to
several factors, including:

• Lack of demand for IT consulting services

• COVID-19 outbreak

• Intensifying competition leading to pricing pressure on service providers


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The growth forecast is a realistic assessment of the market. However, the market could grow at a rate higher
than the projected figure if the following factors come into play:

• Rapid adoption of advanced technologies such as cloud, AI, and IoT

• Increasing spending on modernizing IT systems by both public and private sector companies

Conversely, the growth forecast could be missed with the market growing slower than expected if the
following factors come into play:

• Fluctuating demand for certain service types due to technological disruptions

• Increasing enterprise investments in building in-house IT teams

Chart on Latin America: Year-over-year growth 2024-2029 (%)

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Data Table on Regional - Market size and forecast 2024-2029 ($ million)

Year 2025 2026 2027 2028 2029

Year-over-year 7.67% 8.05% 8.47% 8.94% 9.46%


growth

The information technology services market in Latin America is expected to register moderate growth during
the forecast period due to factors such as the increasing need for industries to focus on their core
competencies, the rising technological advances, the integration of automation solutions, and the wide
presence of global and local vendors. Prominent vendors in this market are focusing on technological
advances to offer high-quality information technology services to end-users such as BFSI. Countries in Latin
America such as Brazil, Argentina, Mexico, Chile, and Colombia are among the most popular locations to
establish information technology service operations due to their efficient operation model. The enterprises in
European countries are focusing on Latin American countries due to their cost-effective skilled workforce,
cultural similarities, and language capabilities. Also, its greater geographic proximity is an added advantage
for enterprises in Europe. However, Latin America is facing tough competition from Asian countries, as it is
not yet mature as compared with Asia. Asian countries provide specialized skills and an experienced
information technology service community as compared with Latin American countries. However, Asian
countries are struggling with rising wage costs, currency fluctuation, and increasing inflation. This will drive

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growth in the information technology services market in Latin America during the forecast period. Data
security and system integration issues will be major challenges for the information technology services
market in Latin America during the forecast period. The growing availability of free information technology
services and an increase in their adoption among small businesses are also anticipated to hamper the
revenue of vendors operating in the information technology services market in Latin America. Hence these
factors will propel the growth of information technology services market in Latin America during the forecast
period.
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05
Historic Market Size
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5.1 Information Technology (IT) Services Market in Latin America 2019 - 2023

Historic Market Size - Data Table on Information Technology (IT) Services Market in Latin America
2019 - 2023 ($ million)

Year 2019 2020 2021 2022 2023

Regional ($ mn) 89,969.6 84,274.5 89,507.9 95,361.7 101,932.1

The information technology (IT) services market in Latin America was valued at $89,969.6 million in 2019 and
reached $101,932.1 million in 2023. This created an incremental growth opportunity worth $11,962.5 million
between 2019 and 2023. As per the market disruptions during the historical period, the market grew at a
compound annual growth rate of 3.2%.
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5.2 Type segment analysis 2019 - 2023

Historic Market Size - Type Segment 2019 - 2023 ($ million)

Year 2019 2020 2021 2022 2023

Project oriented 33,999.5 31,923.2 33,986.2 36,294.7 38,611.9


service
Enterprise cloud 25,416.4 23,908.7 25,500.8 27,283.0 29,427.8
computing
service
IT outsourcing 22,483.4 21,127.6 22,511.2 24,059.8 25,646.1
service
IT support and 8,070.2 7,315.0 7,509.7 7,724.3 8,246.3
training service
Total 89,969.5 84,274.5 89,507.9 95,361.8 101,932.1

Project oriented service was the largest segment in 2019 and continued to be the largest segment of the
market in 2023. This segment witnessed an incremental growth opportunity worth $4,612.4 million between
2019 and 2023. As per the market disruptions during the historical period, the segment grew at a compound
annual growth rate of 3.2%.
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Enterprise cloud computing service was the 2nd-largest segment in 2019 and continued to be the 2nd-largest
segment of the market in 2023. This segment witnessed an incremental growth opportunity worth $4,011.4
million between 2019 and 2023. As per the market disruptions during the historical period, the segment grew
at a compound annual growth rate of 3.7%.

IT outsourcing service was the 3rd-largest segment in 2019 and continued to be the 3rd-largest segment of
the market in 2023. This segment witnessed an incremental growth opportunity worth $3,162.7 million
between 2019 and 2023. As per the market disruptions during the historical period, the segment grew at a
compound annual growth rate of 3.3%.

IT support and training service was the smallest segment in 2019 and continued to be the smallest segment
of the market in 2023. This segment witnessed an incremental growth opportunity worth $176.1 million
between 2019 and 2023. As per the market disruptions during the historical period, the segment grew at a
compound annual growth rate of 0.5%.

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5.3 Deployment segment analysis 2019 - 2023

Historic Market Size - Deployment Segment 2019 - 2023 ($ million)

Year 2019 2020 2021 2022 2023

Hosted service 49,366.3 46,342.5 49,327.8 52,668.3 56,531.5

Managed 40,603.2 37,931.9 40,180.1 42,693.4 45,400.6


service
Total 89,969.5 84,274.4 89,507.9 95,361.7 101,932.1

Hosted service was the largest segment in 2019 and continued to be the largest segment of the market in
2023. This segment witnessed an incremental growth opportunity worth $7,165.2 million between 2019 and
2023. As per the market disruptions during the historical period, the segment grew at a compound annual
growth rate of 3.4%.

Managed service was the smallest segment in 2019 and continued to be the smallest segment of the market
in 2023. This segment witnessed an incremental growth opportunity worth $4,797.4 million between 2019 and
2023. As per the market disruptions during the historical period, the segment grew at a compound annual
growth rate of 2.8%.
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5.4 Geography segment analysis 2019 - 2023

Historic Market Size - Geography Segment 2019 - 2023 ($ million)

Year 2019 2020 2021 2022 2023

Brazil 41,008.1 38,999.7 42,055.0 45,490.6 49,368.5

Mexico 19,316.5 17,881.5 18,769.1 19,762.0 20,875.7

Argentina 7,134.6 6,577.1 6,875.0 7,208.6 7,583.2

Colombia 6,495.8 5,955.9 6,191.9 6,457.3 6,756.2

Rest of Latin 16,014.6 14,860.3 15,617.0 16,443.3 17,348.5


America
Total 89,969.6 84,274.5 89,508.0 95,361.8 101,932.1

Brazil was the largest segment in 2019 and continued to be the largest segment of the market in 2023. This
segment witnessed an incremental growth opportunity worth $8,360.4 million between 2019 and 2023. As per
the market disruptions during the historical period, the segment grew at a compound annual growth rate of
4.7%.
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Mexico was the 2nd-largest segment in 2019 and continued to be the 2nd-largest segment of the market in
2023. This segment witnessed an incremental growth opportunity worth $1,559.2 million between 2019 and
2023. As per the market disruptions during the historical period, the segment grew at a compound annual
growth rate of 2.0%.

Argentina was the 3rd-largest segment in 2019 and continued to be the 3rd-largest segment of the market in
2023. This segment witnessed an incremental growth opportunity worth $448.6 million between 2019 and
2023. As per the market disruptions during the historical period, the segment grew at a compound annual
growth rate of 1.5%.

Colombia was the 4th-largest segment in 2019 and continued to be the 4th-largest segment of the market in
2023. This segment witnessed an incremental growth opportunity worth $260.4 million between 2019 and
2023. As per the market disruptions during the historical period, the segment grew at a compound annual
growth rate of 1.0%.

Rest of Latin America was the smallest segment in 2019 and continued to be the smallest segment of the
market in 2023. This segment witnessed an incremental growth opportunity worth $1,333.9 million between
2019 and 2023. As per the market disruptions during the historical period, the segment grew at a compound
annual growth rate of 2.0%.

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06
Qualitative Analysis
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6.1 Impact of AI on Information Technology Services in Latin America

Artificial Intelligence (AI) is significantly transforming the IT services market in Latin America, driving
efficiency, innovation, and growth across various sectors. Here are some key impacts and examples:

Enhanced Operational Efficiency

AI is streamlining operations by automating routine tasks and optimizing processes. For instance, TCS
implemented AI-driven automation for a major Brazilian bank, reducing processing times by 30% and
improving accuracy in transaction handling. This has allowed the bank to focus more on strategic initiatives
and customer service.

Improved Customer Experience

AI-powered chatbots and virtual assistants are enhancing customer interactions. IBM has deployed Watson
Assistant for several Latin American telecom companies, providing 24/7 customer support and resolving
common issues without human intervention. This has led to a 40% reduction in call center volumes and
improved customer satisfaction rates.

Predictive Maintenance

AI is enabling predictive maintenance, reducing downtime and maintenance costs. Siemens has implemented
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AI solutions for manufacturing plants in Mexico, predicting equipment failures before they occur. This
proactive approach has decreased unplanned downtime by 25%, ensuring smoother operations and higher
productivity.

Personalized Services

AI is helping companies deliver personalized services by analyzing customer data and preferences. Salesforce
has integrated AI into its CRM solutions for businesses in Colombia, allowing them to tailor marketing
campaigns and product recommendations. This has resulted in a 20% increase in customer engagement and
sales conversions.

Fraud Detection and Risk Management

AI is enhancing fraud detection and risk management capabilities. Mastercard uses AI algorithms to monitor
transactions in real-time, identifying and preventing fraudulent activities for its clients in Latin America. This
has significantly reduced fraud-related losses and increased trust in digital transactions.

Vendor Example: Magie

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Magie, a digital bank operating in Latin America, leverages AI to offer banking services through WhatsApp. By
integrating AI with a widely used platform, Magie has simplified user interactions and increased accessibility.
This innovative approach has attracted over 500,000 users within its first year, demonstrating the potential of
AI in transforming financial services.

Government Initiatives

Governments in Latin America are also embracing AI to improve public services. For example, the Brazilian
government launched an AI-driven platform to streamline tax collection and compliance. This initiative has
increased tax revenue by 15% and reduced administrative costs.

Conclusion

AI is revolutionizing the IT services market in Latin America by enhancing operational efficiency, improving
customer experiences, enabling predictive maintenance, delivering personalized services, and strengthening
fraud detection. Companies like TCS, IBM, Siemens, Salesforce, and Magie are leading the way in
implementing AI-driven solutions, showcasing the transformative potential of AI in the region.
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07
Five Forces Analysis
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7.1 Five forces summary

The market dynamics for companies were favorable in 2024. They will remain unchanged during the forecast
period.

Five forces analysis - Comparison between 2024 and 2029


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7.2 Bargaining power of buyers

Bargaining power of buyers - Impact of key factors 2024 and 2029


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The moderate bargaining power of buyers in 2024 provided them with pricing power. In the environment of
high growth, the moderate bargaining power of buyers can offer an opportunity for companies to improve
profit margins. The bargaining power of buyers is expected to remain unchanged during the forecast period.

The information technology services market in Latin America is characterized by the presence of various
small, medium, and large vendors. The presence of many local and global vendors in Latin America results in
moderate product differentiation among buyers. Also, buyers can integrate backward to provide service to
their customers. Hence, the bargaining power of buyers was moderate in 2024, and it is expected to remain
the same during the forecast period.

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7.3 Bargaining power of suppliers

Bargaining power of suppliers - Impact of key factors in 2024 and 2029


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The pressure on industry companies due to the moderate bargaining power of buyers in 2024 was mitigated
by the low bargaining power of suppliers. Industry companies can use the low bargaining power of suppliers
to manage input costs and offset their limited pricing power to be able to protect and grow their profit
margins. The bargaining power of suppliers is expected to remain unchanged during the forecast period.

Information technology service providers create and develop their own products and services. Therefore, the
bargaining power of suppliers was low in 2024, and it is expected to remain the same during the forecast
period.

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7.4 Threat of new entrants

Threat of new entrants - Impact of key factors in 2024 and 2029


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The threat of new entrants is determined based on the presence of entry barriers in the information
technology (IT) services market in Latin America. The low threat of new entrants in 2024 indicated high entry
barriers. The barriers to entry will continue to remain high by 2029.

The entry barriers are low, and enterprises from the US and Europe are focusing on entering the market due to
low-cost labor and better geographic proximity than Asian countries. Hence, the threat of new entrants was
low in 2024, and it is expected to remain the same during the forecast period.

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7.5 Threat of substitutes

Threat of substitutes - Impact of key factors in 2024 and 2029


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The low threat of substitutes, along with the moderate bargaining power of buyers, ensure that, while buyers
can exert pressure on companies, they do not have the option of switching. The availability of limited
substitutes is a factor that mitigates the bargaining power of buyers. The threat of substitutes is expected to
remain unchanged during the forecast period.

There are no substitutes to the market in focus, as IT services include all the significant services required by
enterprises in 2024. Hence, the threat of substitutes was low in 2024, and it is expected to remain the same
during the forecast period.

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7.6 Threat of rivalry

Threat of rivalry - Impact of key factors in 2024 and 2029


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There are several regional and global vendors operating in the market in focus. The product differentiation
offered by these vendors is moderate. Moreover, moderate market growth rates and the customers likelihood
of switching service providers increase competition in the market. Such factors rendered the threat of rivalry
moderate in 2024, which is expected to remain the same during the forecast period.

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7.7 Market condition

The five forces are quantified via an index to measure the favorability of market conditions for companies. A
score closer to one indicates market conditions working completely in favor of companies. Conversely, a
score closer to zero indicates market conditions working completely against companies. The market
favorability index will remain unchanged at value of 0.8 between 2024 and 2029, indicating no change in the
market dynamics on account of the five forces.

Chart on Market condition - Five forces 2024 and 2029


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08
Market Segmentation by Type
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8.1 Market segments

The segments covered in this chapter are project oriented service, enterprise cloud computing service, IT
outsourcing service, and IT support and training service.

In 2024, the information technology (IT) services market in Latin America was dominated by project oriented
service segment contributing to a market share of 37.6% and the IT support and training service segment held
the smallest market share of 8.1%.

In 2029, the information technology (IT) services market in Latin America is expected to be dominated by
project oriented service segment contributing to a market share of 36.8% and the IT support and training
service segment is expected to hold the smallest market share of 7.9%.

In the information technology (IT) services market in Latin America, project oriented service segment is
expected to witness an incremental growth of $19,340.1 million, whereas the IT support and training service
segment is expected to drive an incremental growth of $4,239.7 million, from 2024 to 2029.

Chart on Type - Market share 2024-2029 (%)


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Data Table on Type - Market share 2024-2029 (%)

Year Project oriented Enterprise cloud IT outsourcing IT support and


service computing service service training service
2024 37.6% 29.1% 25.1% 8.1%

2025 37.6% 29.4% 24.9% 8.0%

2026 37.4% 29.7% 24.8% 8.0%

2027 37.2% 30.1% 24.7% 8.0%

2028 37.0% 30.5% 24.5% 8.0%

2029 36.8% 30.9% 24.4% 7.9%


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8.2 Comparison by Type

Chart on Comparison by Type


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Data Table on Comparison by Type

Project oriented Enterprise cloud IT outsourcing IT support and


service computing service service training service
Segment growth (% 8.0 9.8 7.9 8.2
CAGR)
Market share gain -0.8 1.8 -0.7 -0.2
(%)

The enterprise cloud computing service segment is poised to expand at the highest CAGR of 9.8% gaining
1.8% of the market share during the forecast period. However, IT outsourcing service segment is expected to
grow slowest at a CAGR of 7.9% leading to an erosion of 0.7% of market share during the forecast period.

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8.3 Project oriented service - Market size and forecast 2024-2029

Chart on Project oriented service - Market size and forecast 2024-2029 ($ million)
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Data Table on Project oriented service - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 41,172.6 44,287.0 47,638.4 51,408.9 55,671.0 60,512.7


($ mn)

Project oriented service was the largest segment of the market in 2024 and will continue to be the largest
segment of the market in 2029, growing slower than the overall market (8.5%). It will grow at a compounded
annual growth rate of 8.0% between 2024 and 2029. Project oriented service will be the 3rd-fastest growing
segment within the overall market and will grow from $41,172.6 million in 2024 to $60,512.7 million in 2029.
Project oriented service will contribute 35.0% of the incremental growth in the overall market between 2024
and 2029.

Project oriented service contributed 37.6% to the overall market in 2024 and will decrease its contribution to
36.8% of the information technology (IT) services market in Latin America in 2029.

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Chart on Project oriented service - Year-over-year growth 2024-2029 (%)
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Data Table on Project oriented service - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 7.56% 7.57% 7.91% 8.29% 8.70%


growth

The project oriented services include system integration service, information technology consulting service,
and application development service. Integration services include project planning, project management, and
detailed design and implementation of application programming interfaces. It also includes system
deployment services like installation, interoperability testing, and other system deployment services.
Consulting services are advisory services that help companies analyze and improve business operational
performance and technology strategies. This service is focused on areas such as e-commerce,
telecommunications, hardware system design and implementation, software design, acquisition and
implementation, website design, and operation. The services in this segment include app creation,
management, distribution, extension services, and conversion of applications to run on different platforms.
There are various vendors that provide project oriented services in Latin America. For instance, Cognizant
provides application development and value management services in Argentina. Cognizant helps clients with

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digital-ready information technology backbones with a low total cost of ownership (TCO) while simultaneously
optimizing its legacy systems. Deloitte provides consulting services in Brazil. It helps enterprises solve the
most complex business problems by implementing functional and corporate process applications and
transformation projects. Deloitte provides innovation enabled by technology, information technology strategy,
information technology business management, information technology sourcing, enterprise architecture and
information technology solutions, and selection of management systems and specialists. Thus, it will lead to
the growth of project oriented services in Latin America, thereby leading to the growth of the information
technology services market in Latin America during the forecast period.
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8.4 Enterprise cloud computing service - Market size and forecast 2024-2029

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Data Table on Enterprise cloud computing service - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 31,859.5 34,633.5 37,819.8 41,507.2 45,810.7 50,880.4


($ mn)

Enterprise cloud computing service was the 2nd-largest segment of the market in 2024 and will continue to be
the 2nd-largest segment of the market in 2029, growing faster than the overall market (8.5%). It will grow at a
compounded annual growth rate of 9.8% between 2024 and 2029. Enterprise cloud computing service will be
the fastest growing segment within the overall market and will grow from $31,859.5 million in 2024 to
$50,880.4 million in 2029. Enterprise cloud computing service will contribute 34.5% of the incremental growth
in the overall market between 2024 and 2029.

Enterprise cloud computing service contributed 29.1% to the overall market in 2024 and will increase its
contribution to 30.9% of the information technology (IT) services market in Latin America in 2029.

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Data Table on Enterprise cloud computing service - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 8.71% 9.20% 9.75% 10.37% 11.07%


growth

Though this region has some of the worlds poorer nations, and data center property costs might be
accordingly low, Latin American consumers pay the highest premiums in the world. Latin American
companies are making major investments in the cloud to strategically grow their business over the next
decades. Cloud services have been one of the most important tools for Latin American entrepreneurs.
Moreover, the cloud is becoming even more relevant in emerging markets because they offer a unique edge to
local businesses. They are cheaper, and they help structure their business processes and help them advance
technologically. Besides efficiency and operational savings, some organizations turn to the cloud because it
holds the potential to truly revolutionize their business processes and enable them to surpass multiple
technology steps in their digital transformation. Though a new generation of connected consumers in markets
is allowing many businesses to sell and grow via e-commerce, entrepreneurs are moving to the cloud not to
meet consumers online but rather to make their businesses more efficient and save money on operational

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costs. Thus, factors will fuel the growth of enterprise cloud computing services in the information technology
services market in Latin America during the forecast period.
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8.5 IT outsourcing service - Market size and forecast 2024-2029

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Data Table on IT outsourcing service - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 27,409.6 29,378.6 31,587.6 34,078.8 36,904.2 40,128.7


($ mn)

IT outsourcing service was the 3rd-largest segment of the market in 2024 and will continue to be the 3rd-
largest segment of the market in 2029, growing slower than the overall market (8.5%). It will grow at a
compounded annual growth rate of 7.9% between 2024 and 2029. IT outsourcing service will be the slowest
growing segment within the overall market and will grow from $27,409.6 million in 2024 to $40,128.7 million
in 2029. IT outsourcing service will contribute 23.0% of the incremental growth in the overall market between
2024 and 2029.

IT outsourcing service contributed 25.1% to the overall market in 2024 and will decrease its contribution to
24.4% of the information technology (IT) services market in Latin America in 2029.

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Data Table on IT outsourcing service - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 7.18% 7.52% 7.89% 8.29% 8.74%


growth

Information technology outsourcing involves sub-contracting certain information technology functions,


including information technology enabled business processes, application services, and infrastructure
solutions, to external service providers such as third-party companies or individuals to provide effective
delivery of business outcomes. Infrastructure outsourcing includes network management, data center
outsourcing, enterprise security, desktop outsourcing, information technology spends management, cross-
functional services, and service desk outsourcing. Application outsourcing services include application
development, management, and maintenance; packaged application services; quality assurance and testing
services; third-party integrations services; and system consolidation services. Outsourcing IT services to Latin
America has become increasingly popular due to its cost-effectiveness, proximity to the United States, and
cultural alignment. Countries like Mexico, Colombia, and Argentina offer competitive rates without
compromising quality. Additionally, the regions growing talent pool and government support make it an

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attractive destination for businesses seeking skilled IT professionals. This trend is driven by the need for
efficient, high-quality IT services that align with global business standards. Disaster recovery and storage are
the faster-growing markets, while colocation and dedicated hosting are more mature in terms of adoptions;
however, they witness lower growth rates. New market opportunities and trends in cloud computing and new
business models, along with several mergers and acquisitions, are stimulating the information technology
infrastructure outsourcing services market in Latin America. Thus, factors will fuel the growth of the
information technology outsourcing service segment in the information technology services market in Latin
America during the forecast period.
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8.6 IT support and training service - Market size and forecast 2024-2029

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Data Table on IT support and training service - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 8,828.1 9,479.5 10,212.5 11,041.9 11,986.0 13,067.8


($ mn)

IT support and training service was the smallest segment of the market in 2024 and will continue to be the
smallest segment of the market in 2029, growing slower than the overall market (8.5%). It will grow at a
compounded annual growth rate of 8.2% between 2024 and 2029. IT support and training service will be the
2nd-fastest growing segment within the overall market and will grow from $8,828.1 million in 2024 to
$13,067.8 million in 2029. IT support and training service will contribute 7.7% of the incremental growth in the
overall market between 2024 and 2029.

IT support and training service contributed 8.1% to the overall market in 2024 and will decrease its
contribution to 7.9% of the information technology (IT) services market in Latin America in 2029.

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Data Table on IT support and training service - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 7.38% 7.73% 8.12% 8.55% 9.03%


growth

Information technology support and training services include software and hardware support services.
Software support services include new product installation services, installation of product updates, proactive
or reactive on-site services, and support for custom applications or infrastructure software. This segment
does not include software license code updates. These services are basically delivered by product vendors,
consulting firms, or third-party maintainers. Hardware support services are considered preventive and
remedial services that include physical repair, basic installations, contract maintenance, per-incident repair
both on-site and at centralized repair centers, telephone technical troubleshooting, assistance for setups, and
fee-based hardware upgrades. Information technology education and training services include Information
technology education consulting services, certification services, education support services, and information
technology professional learning services. Such factors will drive the growth of the information technology

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support and training service segment in the information technology services market in Latin America during
the forecast period.
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8.7 Market opportunity by Type

Market opportunity by Type ($ million)


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Data Table on Market opportunity by Type ($ million)

Segment Name 2024 2029 Incremental Growth Contribution to


Incremental Growth
Project oriented 41,172.6 60,512.7 19,340.1 35.0%
service
Enterprise cloud 31,859.5 50,880.4 19,020.9 34.5%
computing service
IT outsourcing 27,409.6 40,128.7 12,719.1 23.0%
service
IT support and 8,828.1 13,067.8 4,239.7 7.7%
training service

The market growth from $109,392.0 million in 2024 to $164,589.7 million in 2029 will create an incremental
growth opportunity of $55,197.7 million during the forecast period. Project oriented service segment will
provide significant opportunities within the information technology (IT) services market in Latin America as it
will contribute the highest to the incremental growth of 35.0% in the overall market between 2024 and 2029.
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09
Market Segmentation by Deployment
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9.1 Market segments

The segments covered in this chapter are hosted service and managed service.

In 2024, the information technology (IT) services market in Latin America was dominated by hosted service
segment contributing to a market share of 55.9% and the managed service segment held the smallest market
share of 44.1%.

In 2029, the information technology (IT) services market in Latin America is expected to be dominated by
hosted service segment contributing to a market share of 58.7% and the managed service segment is
expected to hold the smallest market share of 41.3%.

In the information technology (IT) services market in Latin America, hosted service segment is expected to
witness an incremental growth of $35,519.2 million, whereas the managed service segment is expected to
drive an incremental growth of $19,678.5 million, from 2024 to 2029.

Chart on Deployment - Market share 2024-2029 (%)


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Data Table on Deployment - Market share 2024-2029 (%)

Year Hosted service Managed service

2024 55.9% 44.1%

2025 56.4% 43.6%

2026 56.9% 43.1%

2027 57.5% 42.5%

2028 58.1% 41.9%

2029 58.7% 41.3%


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9.2 Comparison by Deployment

Chart on Comparison by Deployment


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Data Table on Comparison by Deployment

Hosted service Managed service

Segment growth (% CAGR) 9.6 7.1

Market share gain (%) 2.8 -2.8

The hosted service segment is poised to expand at the highest CAGR of 9.6% gaining 2.8% of the market
share during the forecast period. However, managed service segment is expected to grow slowest at a CAGR
of 7.1% leading to an erosion of 2.8% of market share during the forecast period.

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9.3 Hosted service - Market size and forecast 2024-2029

Chart on Hosted service - Market size and forecast 2024-2029 ($ million)


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Data Table on Hosted service - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 61,161.1 66,419.2 72,426.8 79,335.8 87,338.2 96,680.3


($ mn)

Hosted service was the largest segment of the market in 2024 and will continue to be the largest segment of
the market in 2029, growing faster than the overall market (8.5%). It will grow at a compounded annual growth
rate of 9.6% between 2024 and 2029. Hosted service will be the fastest growing segment within the overall
market and will grow from $61,161.1 million in 2024 to $96,680.3 million in 2029. Hosted service will
contribute 64.3% of the incremental growth in the overall market between 2024 and 2029.

Hosted service contributed 55.9% to the overall market in 2024 and will increase its contribution to 58.7% of
the information technology (IT) services market in Latin America in 2029.

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Chart on Hosted service - Year-over-year growth 2024-2029 (%)
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Data Table on Hosted service - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 8.60% 9.04% 9.54% 10.09% 10.70%


growth

Hosted services are outsourced information technology service systems and functions. A hosted service
provider owns and oversees infrastructure and software and manages them for the enterprises. The
enterprise has to pay a subscription fee to service providers for rendering their service. Housing and hosting
solutions address a major risk for companies that have their servers at their own facilities, providing a safe,
reliable, and flexible environment with redundancy. Companies and institutions that accommodate their
servers and communication equipment within their own offices incur an unnecessary risk, which may have
serious consequences for their operational continuity. These facilities are usually provided with basic
amenities for power, air conditioning, and security. Hosted service provides a safe, reliable, and flexible
environment with redundancy, which permits customers to use either their own infrastructure or that provided
by SONDA. This ensures that data, which is their primary corporate asset, is always available to support their
business processes. In addition, hosted services free physical space and resources for other important

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business tasks. Such factors will increase the growth of the hosted service segment in the information
technology services market in Latin America during the forecast period.
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9.4 Managed service - Market size and forecast 2024-2029

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Data Table on Managed service - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 48,230.9 51,359.5 54,831.5 58,701.0 63,033.7 67,909.4


($ mn)

Managed service was the smallest segment of the market in 2024 and will continue to be the smallest
segment of the market in 2029, growing slower than the overall market (8.5%). It will grow at a compounded
annual growth rate of 7.1% between 2024 and 2029. Managed service will be the slowest growing segment
within the overall market and will grow from $48,230.9 million in 2024 to $67,909.4 million in 2029. Managed
service will contribute 35.7% of the incremental growth in the overall market between 2024 and 2029.

Managed service contributed 44.1% to the overall market in 2024 and will decrease its contribution to 41.3%
of the information technology (IT) services market in Latin America in 2029.

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Chart on Managed service - Year-over-year growth 2024-2029 (%)
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Data Table on Managed service - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 6.49% 6.76% 7.06% 7.38% 7.74%


growth

The managed service transfers the responsibility for managing various aspects of information technology
infrastructure, information technology support, and enterprise cloud at the enterprise premise by a third-party
service provider. The service provider ensures that service levels meet customer requirements, information
technology costs are reduced, users are satisfied, and working capital is liberated. This service provider
should ensure that the information technology infrastructure, information technology support, and enterprise
cloud are more efficient. Latin America is among the fastest-growing markets with information technology
capabilities. This has led the information technology service market in this region to adopt the latest and
innovative technologies and tools to fulfill strategic objectives. In various countries of Latin America, such as
Argentina, Brazil, Venezuela, and Chile, the managed service market is emerging rapidly due to growing
strategic partnerships with managed service vendors. These partnerships will support this region by
increasing shareholder value, along with market revenues, as these services can be deployed in less time.
Also, SONDA, which is one of the major players in Latin America for information technology services, provides

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managed device services, which include managed PC services, managed print services, managed server
services, managed network and communications services, and managed backup services. It provides
consultancy services to define the optimal communications network architecture and configuration. Thus, it
will lead to increased adoption of managed services, thereby leading to the growth of information technology
services market in Latin America during the forecast period.
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9.5 Market opportunity by Deployment

Market opportunity by Deployment ($ million)


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Data Table on Market opportunity by Deployment ($ million)

Segment Name 2024 2029 Incremental Growth Contribution to


Incremental Growth
Hosted service 61,161.1 96,680.3 35,519.2 64.3%

Managed service 48,230.9 67,909.4 19,678.5 35.7%

The market growth from $109,392.0 million in 2024 to $164,589.7 million in 2029 will create an incremental
growth opportunity of $55,197.7 million during the forecast period. Hosted service segment will provide
significant opportunities within the information technology (IT) services market in Latin America as it will
contribute the highest to the incremental growth of 64.3% in the overall market between 2024 and 2029.
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10
Customer Landscape
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10.1 Customer landscape overview

Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase
criteria
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To assess the price sensitivity of the information technology (IT) services market in Latin America, the drivers
of price sensitivity are analyzed. The adoption lifecycle of information technology (IT) services market in Latin

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America was analyzed by studying the companies operating in the market in focus by splitting them based on
innovators, early adopters, early majority, late majority, and laggards. To monitor the customer purchase
basket, the cost of purchase as a proportion of the overall purchase basket and purchase criticality were taken
into consideration. The adoption rate of market inclusions in each region was also assessed. The key
purchase criteria were studied based on parameters such as price, quality, service, reliability, innovation, and
regulatory compliance.

Among the price sensitivity factors, purchase differentiation was an important driver in making purchase
decision among customers. However, purchase as the key cost was of high importance on making a decision
and quality factor contributed considerably on the same. Due to these factors, the overall price sensitivity for
customers was high. The adoption lifecycle of the information technology (IT) services market in Latin
America was analyzed to be in early adopters in 2024. It is expected to be in the early majority during the
forecast period. It is concluded that in market in focus, the purchasing cost among customers is high and the
purchase criticality is observed to be high. Brazil is expected to have the high adoption rate during the
forecast period. Mexico and Rest of Latin America are expected to have the moderate adoption rate during the
forecast period. Argentina and Colombia are expected to have the low adoption rate from 2024 to 2029. The
key purchasing criteria for customers in the information technology (IT) services market in Latin America were
regulatory compliance, innovation, reliability, service, quality, and price.
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11
Geographic Landscape
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11.1 Geographic segmentation

The regions covered in this chapter are Brazil, Mexico, Argentina, Colombia, and Rest of Latin America.

In 2024, the information technology (IT) services market in Latin America was dominated by Brazil
contributing to a market share of 49.2% and the Colombia held the smallest market share of 6.5%.

In 2029, the information technology (IT) services market in Latin America is expected to be dominated by
Brazil contributing to a market share of 53.0% and the Colombia is expected to hold the smallest market share
of 5.8%.

In the information technology (IT) services market in Latin America, Brazil is expected to witness an
incremental growth of $33,523.1 million, whereas the Rest of Latin America is expected to drive an
incremental growth of $6,796.2 million, from 2024 to 2029.

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Data Table on Market share by geography - 2024-2029 (%)

Year Brazil Mexico Argentina Colombia Rest of Latin


America
2024 49.2% 20.2% 7.3% 6.5% 16.8%

2025 49.9% 20.0% 7.2% 6.4% 16.5%

2026 50.7% 19.8% 7.1% 6.2% 16.2%

2027 51.5% 19.5% 7.0% 6.1% 15.9%

2028 52.3% 19.3% 6.9% 6.0% 15.6%

2029 53.0% 19.1% 6.8% 5.8% 15.3%


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11.2 Geographic comparison

Chart on Geographic comparison


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Data Table on Geographic comparison

Brazil Mexico Argentina Colombia Rest of Latin


America
Segment growth 10.2 7.2 6.8 6.2 6.5
(% CAGR)
Market share 3.8 -1.1 -0.5 -0.7 -1.5
gain (%)

The Brazil is poised to expand at the highest CAGR of 10.2%, gaining 3.8% of the market share during the
forecast period. However, Colombia is expected to grow slowest at a CAGR of 6.2%, leading to an erosion of
0.7% of market share during the forecast period.

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11.3 Brazil - Market size and forecast 2024-2029

Chart on Brazil - Market size and forecast 2024-2029 ($ million)


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Data Table on Brazil - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 53,791.7 58,801.4 64,505.7 71,039.2 78,570.8 87,314.8


($ mn)

Brazil will generate growth in all the years of the forecast period between 2024 and 2029. The year-on-year
growth during this period will vary between 9.3% and 11.1%.

Brazil was the largest segment in the market in 2024 and will continue to be the largest segment in 2029. It
will grow at a compounded annual growth rate of 10.2% between 2024 and 2029, which is faster than that of
the overall market. It will be the fastest growing country within the overall market and will grow from

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$53,791.7 million in 2024 to $87,314.8 million in 2029. It will contribute 60.7% to the incremental growth of
the overall market between 2024 and 2029.

Brazil contributed 49.2% to the information technology (IT) services market in Latin America in 2024, and its
contribution will increase to 53.0% in 2029.

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Data Table on Brazil - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 9.31% 9.70% 10.13% 10.60% 11.13%


growth

Brazil is one of the fastest-growing economies in Latin America, experiencing the highest information
technology (IT) investment compared to other countries in the region. This robust IT investment is driving the
growth of the information technology services market in Brazil. The market is influenced by the Brazilian

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economic scenario, prompting service providers to reduce expenditures to maintain operations and increase
efficiency.A significant portion of IT investment is directed at cloud solutions, such as software-as-a-service
(SaaS), which help enterprises reduce the total cost of ownership (TCO) of hardware and software while
optimizing infrastructure by adapting processing capacity. For instance, in September 2024, Microsoft
announced a USD$2.5 billion investment in cloud and AI infrastructure in Brazil, aiming to enhance the AI
ecosystem of the country and provide AI training to 5 million people.

IT service providers in Brazil are also targeting small and medium-sized businesses (SMBs) and diversifying
their offerings to increase revenue. The SMB market in Brazil is substantial, with over 5 million SMBs
contributing significantly to the economy. Providers like SONDA offer managed device services, including
managed PC, print, server, network, and backup services, to cater to this segment.One of the fastest-growing
IT services in Brazil is application services, driven by the increasing need for enterprises to have better control
and understanding of business processes. The application server market in Brazil is expected to grow
significantly, reflecting the rising demand for these services.

The rising demand for IT services is also fueled by the growing need for network infrastructure. The network
infrastructure market in Brazil is projected to reach substantial growth, driven by the increasing adoption of
cloud-based services and the growing number of Internet of Things (IoT) devices.

Overall, the information technology services market in Brazil is expected to grow significantly during the
forecast period, supported by strong investments in cloud solutions, targeted services for SMBs, and the
rising demand for application and network infrastructure services.
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11.4 Mexico - Market size and forecast 2024-2029

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Data Table on Mexico - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 22,140.7 23,558.4 25,155.9 26,966.5 29,031.6 31,403.7


($ mn)

Mexico will generate growth in all the years of the forecast period between 2024 and 2029. The year-on-year
growth during this period will vary between 6.4% and 8.2%.

Mexico was the 2nd-largest segment in the market in 2024 and will continue to be the 2nd-largest segment in
2029. It will grow at a compounded annual growth rate of 7.2% between 2024 and 2029, which is slower than
that of the overall market. It will be the 2nd-fastest growing country within the overall market and will grow

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from $22,140.7 million in 2024 to $31,403.7 million in 2029. It will contribute 16.8% to the incremental growth
of the overall market between 2024 and 2029.

Mexico contributed 20.2% to the information technology (IT) services market in Latin America in 2024, and its
contribution will decline to 19.1% in 2029.

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Data Table on Mexico - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 6.40% 6.78% 7.20% 7.66% 8.17%


growth

The information technology services market in Mexico offers great opportunities to enterprises. Mexico is an
attractive market for technology products related to the information technology services industry and a strong
global player in the business process outsourcing (BPO) market. Mexico is also developing information

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technology clusters throughout the country to offer information technology, software development, call center,
high-tech manufacturing, and engineering services to domestic users and to countries in North America and
Europe. In January 2025, Amazon Web Services (AWS) launched its first infrastructure region in Mexico, the
AWS Mexico (Central) Region, as part of a $5 billion investment plan to support digital economy of Mexico.

The country is following the global trend toward a service-centric information technology industry, wherein
most technologies are offered under a service contract or lease. There is a growing interest in SaaS,
infrastructure as a service (IaaS), and platforms as a service (PaaS). Thus, the information technology
services market in Mexico is expected to grow during the forecast period.
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11.5 Argentina - Market size and forecast 2024-2029

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Data Table on Argentina - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 8,009.3 8,486.8 9,024.7 9,634.0 10,328.7 11,126.3


($ mn)

Argentina will generate growth in all the years of the forecast period between 2024 and 2029. The year-on-
year growth during this period will vary between 6.0% and 7.7%.

Argentina was the 3rd-largest segment in the market in 2024 and will continue to be the 3rd-largest segment
in 2029. It will grow at a compounded annual growth rate of 6.8% between 2024 and 2029, which is slower
than that of the overall market. It will be the 3rd-fastest growing country within the overall market and will

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grow from $8,009.3 million in 2024 to $11,126.3 million in 2029. It will contribute 5.6% to the incremental
growth of the overall market between 2024 and 2029.

Argentina contributed 7.3% to the information technology (IT) services market in Latin America in 2024, and
its contribution will decline to 6.8% in 2029.

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Data Table on Argentina - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 5.96% 6.34% 6.75% 7.21% 7.72%


growth

The information technology services market in Argentina is expected to grow during the forecast period
because of the strong information technology infrastructure and a large tech-savvy and highly skilled pool of
software engineers who are ready to work at a reasonable price. The strong support from the Government of

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Argentina is also supporting the market to growth during the forecast period. The Government of Argentina
has launched initiatives to support the information technology service industry and ensure that the
information technology service standard complies with international information technology service
standards in terms of applicable laws, such as intellectual property protection. Thus, the information
technology services market in Argentina is expected to be strong during the forecast period.
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11.6 Colombia - Market size and forecast 2024-2029

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Data Table on Colombia - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 7,097.2 7,479.7 7,910.7 8,399.2 8,956.2 9,595.6


($ mn)

Colombia will generate growth in all the years of the forecast period between 2024 and 2029. The year-on-year
growth during this period will vary between 5.4% and 7.1%.

Colombia was the 4th-largest segment in the market in 2024 and will continue to be the 4th-largest segment
in 2029. It will grow at a compounded annual growth rate of 6.2% between 2024 and 2029, which is slower
than that of the overall market. It will be the slowest growing country within the overall market and will grow

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from $7,097.2 million in 2024 to $9,595.6 million in 2029. It will contribute 4.5% to the incremental growth of
the overall market between 2024 and 2029.

Colombia contributed 6.5% to the information technology (IT) services market in Latin America in 2024, and
its contribution will decline to 5.8% in 2029.

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Data Table on Colombia - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 5.39% 5.76% 6.18% 6.63% 7.14%


growth

The information technology services market in Colombia is driven by an increasingly dynamic competitive
environment, with a diverse array of participants from various industry sectors, including traditional business
service providers, telcos, equipment vendors, and IT players. This diversity fosters a competitive landscape

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where all market participants are becoming more adept at understanding the outsourcing model and its
inherent challenges. These participants are proficient in managing customer network operations, integrating
all components and processes to allow clients to focus on their core business activities.

The entry of numerous manufacturing and retail companies into the Colombian market is significantly
impacting the demand for IT services. These sectors require extensive IT support to manage their operations
efficiently, driving the growth of the information technology services market. Additionally, the Colombian
governments focus on digital transformation initiatives, such as the national ICT policy, is fueling the growth
of the IT market. The governments efforts to enhance digital infrastructure and promote the adoption of
advanced technologies are creating a conducive environment for IT service providers.

The market is also seeing increased investment in cloud solutions, AI, and big data analytics, which are
becoming essential for businesses to stay competitive. Companies like IBM and Microsoft are expanding their
cloud services in Colombia, providing scalable and flexible solutions that cater to the needs of various
industries.

Overall, the dynamic competitive environment, coupled with the influx of manufacturing and retail companies
and the governments digital initiatives, is expected to drive significant growth in the information technology
services market in Colombia during the forecast period.
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11.7 Rest of Latin America - Market size and forecast 2024-2029

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Data Table on Rest of Latin America - Market size and forecast 2024-2029 ($ million)

Year 2024 2025 2026 2027 2028 2029

Market size 18,353.1 19,452.4 20,661.3 21,998.0 23,484.7 25,149.3


($ mn)

Rest of Latin America will generate growth in all the years of the forecast period between 2024 and 2029. The
year-on-year growth during this period will vary between 6.0% and 7.1%.

Rest of Latin America was the smallest segment in the market in 2024 and will continue to be the smallest
segment in 2029. It will grow at a compounded annual growth rate of 6.5% between 2024 and 2029, which is
slower than that of the overall market. It will be the 4th-fastest growing country within the overall market and

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will grow from $18,353.1 million in 2024 to $25,149.3 million in 2029. It will contribute 12.3% to the
incremental growth of the overall market between 2024 and 2029.

Rest of Latin America contributed 16.8% to the information technology (IT) services market in Latin America
in 2024, and its contribution will decline to 15.3% in 2029.

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Data Table on Rest of Latin America - Year-over-year growth 2024-2029 (%)

Year 2025 2026 2027 2028 2029

Year-over-year 5.99% 6.21% 6.47% 6.76% 7.09%


growth

Rest of Latin America, including Chile, Uruguay, Peru, and Cuba, are experiencing a significant surge in the
information technology services market. This growth is driven primarily by the increasing demand for
managed services from end-user industries such as telecommunications, healthcare, and finance.

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Several factors contribute to this positive trend. The development of telecommunication infrastructure is a
significant catalyst, enhancing connectivity and service delivery. Additionally, the near-shore advantage,
characterized by geographical proximity to major markets, combined with the availability of inexpensive labor
and attractive tax incentives, further propels the market's growth in the rest of Latin America.

Emerging technologies are also playing a crucial role in this expansion. Innovations such as cloud computing,
data analytics, speech recognition, omnichannel capabilities, digital services, and artificial intelligence are
driving the adoption of new business process management skills and expertise. These advancements enable
organizations to optimize their operations and offer enhanced services to their customers.

As a result, the information technology services market in the region is expected to witness significant growth
during the forecast period, driven by both technological advancements and favorable economic conditions.
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11.8 Market opportunity by geography

Market opportunity by geography ($ million)


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Data Table on Market opportunity by geography ($ million)

Segment Name 2024 2029 Incremental Growth Contribution to


Incremental Growth
Brazil 53,791.7 87,314.8 33,523.1 60.7%

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Mexico 22,140.7 31,403.7 9,263.0 16.8%

Argentina 8,009.3 11,126.3 3,117.0 5.6%

Colombia 7,097.2 9,595.6 2,498.4 4.5%

Rest of Latin 18,353.1 25,149.3 6,796.2 12.3%


America

The market growth from $109,392.0 million in 2024 to $164,589.7 million in 2029 will create an incremental
growth opportunity of $55,197.7 million during the forecast period. Brazil will provide significant opportunities
within the information technology (IT) services market in Latin America, as it will contribute the highest to the
incremental growth of 60.7% in the overall market between 2024 and 2029.
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12
Drivers, Challenges, and Opportunity/Restraints
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12.1 Market drivers

12.1.1 Rising focus on core competencies and improving efficiency

Firms are implementing IT services such as managed services and IT outsourcing services to focus on their
core business process and outsource IT functions to improve operational 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 offer
services that are available worldwide. Companies can avail these services, as globalization allows businesses
to access services from anywhere. There are several business projects in which direct contracting and hiring
of experts must be done, incurring an additional expenditure for acquiring human resources. In addition,
supervision to implement a project is also necessary, but this can become problematic because many IT
managers may not have the domain expertise to maintain complex IT projects. 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. Thus, raising focus on core competencies and improving efficiency is one of
the major drivers for the growth of the information technology services market in Latin America during the
forecast period.

12.1.2 Growing demand for IoT and big data operations


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The increasing use of internet-connected devices in Latin America is expected to contribute significantly to
the growth of the information technology services market in Latin America by providing managed services to
these devices. Trends such as connected cars, connected homes, and smart cities are gaining popularity.
Sectors such as manufacturing, utilities, retail, automotive, and social media also use IoT. IoT devices demand
an energy-efficient network of smart nodes that must always be interconnected. This also increases the use
of the Internet and infrastructure services, which helps in managing these devices. Big data analytics has
triggered the high-tech expansion of data centers. On-the-go business is a popular trend, and it has been
made viable through technological advances within devices such as mobile phones and tablets. Data is
continuously being fed into storage systems. For predictive and consumer analytics operations, enterprises
use these big data sets. Enterprises have started procuring high-performance storage in data centers, such as
storage area network (SAN) and network-attached storage (NAS) systems, to enhance their performance.
Thus, with an increase in the demand for big data analytics, the demand for IT services will also rise.
Enterprise data centers are constantly upgraded to satisfy big data storage and processing needs. In addition,
the forecast period will witness the emergence and growth of edge computing facilities, where the possibility
of IT services adoption is higher. Thus, the growing demand for IoT and big data operations will be a major
driver for the growth of the information technology services market in Latin America during the forecast
period.

12.1.3 Increased adoption of mobility solutions

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Mobility is every aspect of government operations, such as data collection using mobile devices, wireless
networks, and unified communication. Mobility enables e-government initiatives to be successful in Tier-
2/Tier-3 cities and rural areas that lack IT infrastructure and internet access. Therefore, for an uninterrupted
data-sharing process, mobility plays a crucial role. With mobility, financial inclusion can be achieved, and
people without access to a bank can use m-commerce, mobile banking, and mobile money. Unprecedented
growth in the smartphone market leads to an increase in mobile app users. Mobile application developers
require IT services such as backend as a service (BaaS) and web-integrated development environment (IDE)
solutions for innovative mobile application development solutions. IT services for mobile application
development reduce complexities associated with developing and designing mobile applications. IT services
such as BaaS solutions help mobile app developers to reduce the development time of applications, improve
front-end tasks such as design and development of content, and enhance UI design for a better user
experience. Thus, increased adoption of mobility solutions will be a major driver for the growth of the
information technology services market in Latin America during the forecast period.
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12.2 Market challenges

12.2.1 Lack of quality standards in 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 course of 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 information technology services. Apart from
strictly meeting the SLA commitments, information technology service providers should also provide
statistics regarding uptime, downtime, and outage frequency. This will help users understand risk factors and
plan for the worst scenarios. Customers also need to monitor the efficiency of their information technology
systems to evaluate if information technology services meet their business objectives. However, the lack of
quality standards in SLAs can become a major challenge for the growth of the information technology
services market in Latin America during the forecast period.

12.2.2 Data privacy and security risk in cloud-based services

Data privacy and security risk are the major barriers to the adoption of cloud services in organizations,
especially in the public cloud. Cloud security management is a challenging task for vendors to protect online
data. Online digital files need to be secured from unauthorized access to the cloud-based information
technology infrastructure. Cloud infrastructures are based on many patchworks of open-source code, which
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can bring flaws to the cloud systems. The public cloud infrastructure is more affected due to the glitches in
source codes, as public clouds are multi-tenant that can affect various applications running in a cloud
environment.

Cyber-attackers can easily gain access to cloud-based data storage systems as cloud-based infrastructure is
based on open architecture and shared resources. In August 2024, Assured Data Protection announced the
expansion of its operations into Latin America, partnering with Rubrik to offer advanced cyber resiliency
solutions. This joint venture aims to provide 24x7 managed services to enterprises across the region, ensuring
rapid recovery from cyberattacks. A new Center of Excellence in Costa Rica will support this initiative, staffed
by highly trained engineers to deliver high-quality, round-the-clock support.

Using cloud-powered technologies, service providers can gain access to the companys business data.
Meanwhile, the cloud, being a public service, exposes cloud service providers to security challenges on a
routine basis. The ease of procuring and accessing cloud services can also give users the ability to scan,
identify, and exploit loopholes and vulnerabilities within a system. In a multi-tenant cloud architecture, where
multiple users are hosted on the same server, a hacker might try to break into the data of other users hosted
and stored on the same server. Vendors should encrypt clients data and implement multi-factor
authentication systems such as biometrics for the authorization of users in the clients information technology
systems. Vendors should also follow the regulatory guidelines for cloud security management. Therefore,
data privacy and security risk in cloud-based services is a major challenge for the growth of the information
technology services market in Latin America during the forecast period.

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12.2.3 System integration and interoperability issues

The adoption of advanced technology in many industry verticals, including banking, financial services, and
insurance (BFSI); telecom; and public-sector firms, is increasing significantly, which can lead to system
integration and interoperability issues. Vendors should provide unified information technology solutions that
can be seamlessly integrated with the information technology infrastructure of organizations. Technical
glitches during operations can incur a cost to the organization and reduce operational efficiencies. System
integration and interoperability issues arise mostly when organizations update their information technology
systems or merge their information technology infrastructure with acquired companies. Integration of
multiple information technology systems on traditional information technology infrastructure can create a lot
of cross-platform system integration issues. Therefore, vendors should seamlessly integrate multiple
information technology systems in organizations with the help of an information technology team equipped
with the technical expertise to manage information technology infrastructure. Thus, system integration and
interoperability issues will be a major challenge for the growth of the information technology services market
in Latin America during the forecast period.
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12.3 Impact of drivers and challenges

Impact of drivers and challenges in 2024 and 2029


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In 2024, growing demand for IoT and big data operations and increased adoption of mobility solutions
significantly contributed to the growth of the information technology (IT) services market in Latin America.
Also, rising focus on core competencies and improving efficiency moderately supported market growth.

However, in 2024, data privacy and security risk in cloud-based services hindered market growth significantly.
Also, lack of quality standards in SLAs and system integration and interoperability issues were observed to
challenge market growth moderately.
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12.4 Market opportunities/restraints

12.4.1 Emergence of AI in information management

Several enterprises across the world are integrating AI to develop and exploit data from information
technology services. Integrating AI in information services helps automate several processes and enhances
process efficiency. Besides, in enterprises, half of the employees spend time doing paperwork. This reduces
the overall return on investment (ROI) of enterprises and increases their costs. Thus, enterprises are opting for
information technology services integrated with advanced technologies such as AI. Integrating AI in
information technology services enhances the efficiency and process integrity of information services.
Besides, AI is used to categorize and tag the information making it easy to find the information or data in the
future. There are several other advantages of AI in information services, such as applying structure to
unstructured data, streamlining information, enhancing information security, and improving data quality. Such
benefits of AI in information services are anticipated to increase the efficiency of vendors operating in the
information technology services market in Latin America in the future. Thus, the emergence of AI in
information management is one of the major trends which is expected to drive the growth of information
technology services in Latin America during the forecast period.

12.4.2 Integration of big data in IT service provider offerings

Information technology service providers access large amounts of data that are analyzed to offer various
solutions for organizations. Enterprises usually run big data analytics on their internal customer and
operational database and external social media sites to understand the reach and impact of their products.
information technology service providers offer services that are used to provide quantitative and qualitative
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insights. Big data analytics and market research analysis are used in tandem, and the derived insights can be
helpful to enterprises. For instance, many companies use big data tools to run predictive analytics processes
on their customer information databases. The results of such analyses can be appended to the market survey
data to arrive at predictive segmentation values. In addition, tools such as Facebook Insights, Google
Analytics, Open Calais, and KNIME Analytics are being used by information service providers to add value to
their offerings. Such tools will drive the growth of the information technology services market in Latin America
during the forecast period.

12.4.3 Increased adoption of BYOD

Enterprise mobility has gained ground in the corporate world in response to employees preferences to use
their smartphones, tablets, and portable computers at work. BYOD demands specific management and
information technology service delivery frameworks to guarantee electronically secure and productive work
environments. The major focus of companies is to provide the right mobile devices to their employees. Thus,
the implementation of the BYOD policy is an emerging trend among various enterprises. The growth in BYOD
leads to a greater number of operating systems and mobile devices such as iOS, Android, Windows,
smartphones, and tablets in the company that can access secure computer networks. The reason for the
implementation of the BYOD program is to provide a cost-effective solution, mobility to employees, and
enhanced productivity. The BYOD program helps firms to reduce their information technology costs by
reducing capital expenditure and improving efficiency. To implement the BYOD program successfully, vendors
are providing information technology solutions to provide an environment where the workforce of

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organizations can use their personal devices through robust internet connectivity infrastructure. Thus,
increased adoption of BYOD is a major trend for the growth of the information technology services market in
Latin America during the forecast period.
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13
Competitive Landscape
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13.1 Overview

The information technology services market in Latin America is fragmented, with the presence of several
global and regional vendors. The existing vendors in the market are continuously investing in research and
development to advance their offerings and increase their consumer base. On the other hand, several new
players are expected to enter the market during the forecast period with innovative solutions. This is
increasing the competition among market vendors. Information technology service providers offer services
relevant to any process in the value chain of businesses, such as finance, marketing, operations, global
relations, and customers. The dynamically changing consumer requirements are encouraging vendors to
develop new solutions to meet the demands of consumers. Thus, vendors are investing heavily in retaining
and expanding their consumer base. This is expected to keep the market competitive during the forecast
period.
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13.2 Competitive Landscape

To assess the supply side and the demand side challenges faced by companies in the market, the interplay of
inputs for companies with the differentiated product and service outputs as presented to the customer are
analyzed. The most important inputs for companies in the information technology (IT) services market in
Latin America are capex, technology and brand. The next set of inputs in order of importance are research and
development and labor. Price, quality, regulatory compliance, and innovation were all very important factors of
differentiation in 2024.

Overview on criticality of inputs and factors of differentiation


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13.3 Landscape disruption

The potential for the disruption of the market landscape was moderate in 2024, and its threat is expected to
remain unchanged by 2029.

While the disruption threats are strategic in nature, operational risks for suppliers have been mapped based
on their negative business impact and their probability of occurrence.

Overview on factors of disruption


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13.4 Industry risks

Impact of key risks on business


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None of the identified risks have a high business impact.

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14
Competitive Analysis
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14.1 Companies profiled

Companies are included in the report based on their offerings in the information technology (IT) services
market in Latin America. They are identified based on their revenues, market dominance, geographical
presence, product portfolio, and financials. Nineteen important companies in the information technology (IT)
services market in Latin America have been covered in this report. The contribution of the revenue from the
information technology (IT) services market in Latin America to the overall business of a company is analyzed
via the influence index. For all the nineteen companies, the revenue from the information technology (IT)
services market in Latin America contributes to the overall revenue of the company but is not a key
component of the companies revenue and hence all companies have been classified as contributing on the
influence index. Given that a majority of the companies covered are classified as contributing on the influence
index, changes in the market dynamics may not significantly impact the business prospects of companies in
the information technology (IT) services market in Latin America.

Companies covered

Company names Structure Company Headquarters Influence index


revenue ($
million)
Accenture PLC Public 64,896.4 Ireland Contributing

Alphabet Inc. Public 307,394.0 US Contributing


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Amazon.com Inc. Public 574,785.0 US Contributing

Atos SE Public 11,565.5 France Contributing

Capgemini Services SAS Public 24,359.7 France Contributing

Cisco Systems Inc. Public 53,803.0 US Contributing

Dell Technologies Inc. Public 88,425.0 US Contributing

Deloitte Touche Tohmatsu Private > 1,000 UK Contributing


Ltd.
Ernst and Young Global Private 0 -100 UK Contributing
Ltd.
HCL Technologies Ltd. Public 13,480.3 India Contributing

Hewlett Packard Enterprise Public 29,135.0 US Contributing


Co.
International Business Public 61,860.0 US Contributing
Machines Corp.

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KPMG International Ltd. Private > 1,000 The Netherlands Contributing

Microsoft Corp. Public 245,122.0 US Contributing

Oracle Corp. Public 49,954.0 US Contributing

PricewaterhouseCoopers Public 55,400.0 UK Contributing


LLP
Salesforce Inc. Public 34,857.0 US Contributing

SAP SE Public 33,753.5 Germany Contributing

Tata Consultancy Services Public 29,683.1 India Contributing


Ltd.
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14.2 Company ranking index

Company ranking index

Company Name Ranking

Accenture PLC 1

Alphabet Inc. 1

Amazon.com Inc. 1

Capgemini Services SAS 2

Dell Technologies Inc. 2

Microsoft Corp. 2

International Business Machines Corp. 3

PricewaterhouseCoopers LLP 3

Cisco Systems Inc. 3


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Hewlett Packard Enterprise Co. 3

HCL Technologies Ltd. 4

Atos SE 4

Deloitte Touche Tohmatsu Ltd. 4

KPMG International Ltd. 4

Ernst and Young Global Ltd. 4

Oracle Corp. 5

SAP SE 5

Tata Consultancy Services Ltd. 5

Salesforce Inc. 5

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14.3 Market positioning of companies

Matrix on companies position and classification


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The market positioning of companies has been arrived at considering both internal and external analyses of
the companies covered in the report. As a part of the internal analysis, the offerings of a company are

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analyzed. If a company is focused only on the information technology (IT) services market in Latin America,
then it is classified as a pure-play company. On the other end of the spectrum, a company with interests in
multiple industries is classified as a diversified company. The external analysis is a qualitative assessment of
the ability of a company to impact the information technology (IT) services market in Latin America by its
actions. Dominant companies can impact the information technology (IT) services market in Latin America
significantly, while a weak company has no ability to influence the market dynamics.
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14.4 Accenture PLC

Accenture PLC is a public company headquartered in Ireland. It is a global company generating $ 64,896.4
million in revenues and has around 733,000 employees. Its revenue from the information technology (IT)
services market in Latin America contributes to its overall revenues along with its other offerings, but it is not
a key revenue stream for the company.

Accenture PLC - Overview


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Accenture PLC - Business segments

Segment Name Description

North America Under this segment, the company sells and delivers
full range of its services and capabilities to clients
across North America.
Europe Under this segment, the company sells and delivers
full range of its services and capabilities to clients
across Europe.

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Growth Markets Under this segment, the company includes the
operations of multi service client teams across APAC,
Latin America, and MEA.

Accenture PLC - Key news

Year Key News

2024 In November, the company acquired Award Solutions,


a provider of training and consulting services in
advanced wireless and network technologies,
including 5G, Internet of Things, and cloud-based
solutions.
2024 In November, the company announced new services
and capabilities aimed at reinventing business and
cyber resilience through the power of generative AI,
deepfake protection, and quantum-safe data security
solutions to help clients across industries become
cyber-resilient organizations.
2024 In May, the company had completed the acquisition
of Udacity, a digital education pioneer with deep
expertise in the development and delivery of
proprietary technology courses that blend the
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flexibility of online learning with the benefits of


human instruction.
2024 In May, the company had agreed to acquire
OPENSTREAM HOLDINGS and its subsidiaries, Open
Stream and Neutral, to help clients reinvent their
businesses with advanced digital technologies and
become truly data-driven.
2024 In April, the company had entered into an agreement
to acquire Cognosante, a mission-driven provider of
digital transformation and cloud modernization
solutions for federal health, defense, intelligence, and
civilian agencies.
2024 In April, the company collaborated with BNY Mellon to
modernize financial services offerings with an initial
focus on data management and analytics product
development and delivery.
2024 In April, the company had acquired Unlimited, the
award-winning integrated customer engagement
agency, which will become part of Accenture Song -
the world largest tech-powered creative group.

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Accenture PLC - Key offerings

Key Offerings Description

IT services The company offers IT services such as consulting,


digital, technology, and operations.

Accenture PLC - Segment focus

Segment Focus

North America High

Europe Medium

Growth Markets Medium

SWOT

Components Factors
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Strength o Strong global presence


o Diverse service offerings
Weakness o High operational costs
o Dependency on key markets
Opportunity o Expansion in digital transformation
o Growth in cloud services
Threat o Intense competition
o Regulatory challenges

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14.5 Alphabet Inc.

Alphabet Inc. is a public company headquartered in US. It is a global company generating $ 307,394.0 million
in revenues and has around 182,502 employees. Its revenue from the information technology (IT) services
market in Latin America contributes to its overall revenues along with its other offerings, but it is not a key
revenue stream for the company.

Alphabet Inc. - Overview


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Alphabet Inc. - Business segments

Segment Name Description

Google Services Under this segment, the company includes products


and services such as Google Ads, Android, Chrome,
Google Maps, Google Play, Search, YouTube and
hardware.
Google Cloud Under this segment, the company includes Google
infrastructure and data analytics platforms,

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collaboration tools, and other services for enterprise
customers.
Other bets Under this segment, the company includes
combination of multiple operating segments that are
not individually material.

Alphabet Inc. - Key offerings

Key Offerings Description

IT services The company offers IT services such as Google


search, Google Maps, Google Cloud, and Google Ads.

Alphabet Inc. - Segment focus

Segment Focus

Google Services High

Google Cloud Low

Other bets Low


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SWOT

Components Factors

Strength o Diverse service offerings


o Leading in digital advertising
Weakness o Dependency on key markets
o High dependency on advertising revenue
Opportunity o Growth in cloud services
o Growth in cloud computing
Threat o Regulatory challenges
o Regulatory scrutiny

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14.6 Amazon.com Inc.

Amazon.com Inc. is a public company headquartered in US. It is a global company generating $ 574,785.0
million in revenues and has around 1,525,000 employees. Its revenue from the information technology (IT)
services market in Latin America contributes to its overall revenues along with its other offerings, but it is not
a key revenue stream for the company.

Amazon.com Inc. - Overview


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Amazon.com Inc. - Business segments

Segment Name Description

North America Under this segment, the company includes retail


sales of consumer products and subscriptions
through North America-focused online and physical
stores. The segment also includes export sales from
these online stores.

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International Under this segment, the company includes retail
sales of consumer products and subscriptions
through internationally focused online stores. The
segment also includes export sales from
internationally focused online stores.
Amazon Web Services Under this segment, the company includes global
sales of computer, storage, database, and other
service offerings for startups, enterprises,
government agencies, and academic institutions.

Amazon.com Inc. - Key news

Year Key News

2024 In September, the company launched a powerful new


generative AI-based selling assistant codenamed
project named Amelia.
2024 In April, the company appointed Dr. Andrew Ng to
Amazons Board of Directors

Amazon.com Inc. - Key offerings


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Key Offerings Description

IT services The company offers IT services such as online retail,


streaming services, and cloud computing.

Amazon.com Inc. - Segment focus

Segment Focus

North America High

International Medium

Amazon Web Services Low

SWOT

Components Factors

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Strength o Leading in digital advertising
o Strong brand recognition
Weakness o High dependency on advertising revenue
o High operational costs
Opportunity o Growth in cloud computing
o Expansion in AI and machine learning
Threat o Regulatory scrutiny
o Intense competition
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14.7 Atos SE

Atos SE is a public company headquartered in France. It is a global company generating $ 11,565.5 million in
revenues and has around 95,140 employees. Its revenue from the information technology (IT) services market
in Latin America contributes to its overall revenues along with its other offerings, but it is not a key revenue
stream for the company.

Atos SE - Overview
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Atos SE - Business segments

Segment Name Description

Americas Under this segment the company operates in


Argentina, Brazil, Canada, Chile, Colombia,
Guatemala, Mexico, Peru, the United States of
America and Uruguay.
Northern Europe and APAC Under this segment the company operates in
Australia, Belgium, China, Denmark, Estonia, Finland,

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Hong Kong, India, Ireland, Japan, Lithuania,
Luxembourg, Malaysia, New Zealand, Norway,
Philippines, Singapore, Sweden, Taiwan, Thailand, the
Netherlands, the United Kingdom and South Korea.
Central Europe Under this segment the company operates in Austria,
Bosnia and Herzegovina, Bulgaria, Croatia, Czech
Republic, Germany, Greece, Hungary, Poland, Israel,
Romania, Serbia, Slovakia and Switzerland.
Southern Europe Under this segment the company operates in Andorra,
France, Italy, Portugal and Spain.
Corporate and Other Under this segment the company operates in Abu
Dhabi, Algeria, Benin, Burkina Faso, Egypt, Gabon,
Ivory Coast, Kenya, Lebanon, Madagascar, Mali,
Mauritius, Morocco, Namibia, Qatar, Saudi Arabia,
Senegal, South Africa, Tunisia, Turkey, UAE as well as
Corporate functions and Global Delivery Centers.

Atos SE - Key news

Year Key News

2024 In May, the company announced the launch of


BullSequana AI 600, its new mid-range AI server
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family, powered by the AMD Instinct MI300X


accelerator
2024 In May, the company announced the launch of
JARVICE AI, a new software solution that
complements its full BullSequana AI product and
services line.

Atos SE - Key offerings

Key Offerings Description

IT services The company offers IT services such as digital


transformation, cloud, and cybersecurity.

Atos SE - Segment focus

Segment Focus

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Americas High

Northern Europe and APAC Medium

Central Europe Low

Southern Europe Medium

Corporate and Other Low

SWOT

Components Factors

Strength o Strong brand recognition


o Market leader in cloud services
Weakness o Dependence on key markets
o High operational costs
Opportunity o Expansion in AI and machine learning
o Growth in cloud computing
Threat o Intense competition
o Regulatory challenges
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14.8 Capgemini Services SAS

Capgemini Services SAS is a public company headquartered in France. It is a global company generating $
24,359.7 million in revenues and has around 145,800 employees. Its revenue from the information technology
(IT) services market in Latin America contributes to its overall revenues along with its other offerings, but it is
not a key revenue stream for the company.

Capgemini Services SAS - Overview


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Capgemini Services SAS - Business segments

Segment Name Description

Applications and Technology Under this segment, the company offers a local
technology services model, working closely with
clients teams.
Engineering and Operations Under this segment, the company includes the
business services as well as installation and

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maintenance services for clients IT infrastructures in
data centers or in the cloud.
Strategy and Transformation Under this segment, the company offers technology,
data science, and creative design fields to support
clients within the digital economy.

Capgemini Services SAS - Key news

Year Key News

2024 In April, the company developed an integrated new


business platform for Bayers Crop Science business
that improves efficiencies across the organizations
complex commercial processes.
2024 In February, the company partnered with Mistral AI to
accelerate business transformation for organizations
with efficient, customizable, state of the art AI
models.
2024 In January, the company announced a multi year
strategic collaboration deal with Amazon Web
Services (AWS) to accelerate the adoption of
generative AI solutions and technology across
organizations of all sizes.
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2023 In December, the company appointed Nive Bhagat as


Group Chief Financial Officer.

Capgemini Services SAS - Key offerings

Key Offerings Description

IT services The company offers IT services such as consulting,


technology, and outsourcing.

Capgemini Services SAS - Segment focus

Segment Focus

Applications and Technology High

Engineering and Operations Medium

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Strategy and Transformation Low

SWOT

Components Factors

Strength o Market leader in cloud services


o Strong brand recognition
Weakness o High operational costs
o Dependency on North American market
Opportunity o Growth in cloud computing
o Expansion in AI and machine learning
Threat o Regulatory challenges
o Intense competition
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14.9 Cisco Systems Inc.

Cisco Systems Inc. is a public company headquartered in US. It is a global company generating $ 53,803.0
million in revenues and has around 90,400 employees. Its revenue from the information technology (IT)
services market in Latin America contributes to its overall revenues along with its other offerings, but it is not
a key revenue stream for the company.

Cisco Systems Inc. - Overview


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Cisco Systems Inc. - Business segments

Segment Name Description

Americas Under this segment, the company offers products


and services in countries such as the US, Canada,
and Mexico.
EMEA Under this segment, the company offers products
and services in countries such as the UK, France,
Germany, the Netherlands, and African countries.

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APAC Under this segment, the company offers products
and services in countries such as Australia, India,
China, Japan, and Singapore.

Cisco Systems Inc. - Key news

Year Key News

2024 In October, the company announced partnership with


NFL to connect and protect the 2024 NFL
International Games and the 2025 NFL Madrid Game.
2024 In April, the company announced the acquisition of
Isovalent, a leader in open source cloud native
networking and security.
2024 In March, the company announced the acquisition of
Splunk, for delivering unparalleled visibility and
insights across the entire digital footprint of an
organization.
2024 In March, the company and BBVA signed a Whole
Portfolio Agreement. This agreement will allow BBVA
to access Cisco software and Customer Experience
CX portfolio.
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2024 In February, the company signed a memorandum of


understanding with Orange Business, to help reduce
their greenhouse gas emissions.
2024 In February, the company partnered with NVIDIA, to
develop secure networks enhanced by AI technology.

Cisco Systems Inc. - Key offerings

Key Offerings Description

IT services The company offers IT services such as networking,


security, and collaboration.

Cisco Systems Inc. - Segment focus

Segment Focus

Americas High

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EMEA Medium

APAC Low

SWOT

Components Factors

Strength o Strong brand recognition


o Strong presence in Europe
Weakness o Dependency on North American market
o High operational costs
Opportunity o Expansion in AI and machine learning
o Growth in cybersecurity services
Threat o Intense competition
o Economic uncertainties
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14.10 Dell Technologies Inc.

Dell Technologies Inc. is a public company headquartered in US. It is a global company generating $ 88,425.0
million in revenues and has around 120,000 employees. Its revenue from the information technology (IT)
services market in Latin America contributes to its overall revenues along with its other offerings, but it is not
a key revenue stream for the company.

Dell Technologies Inc. - Overview


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Dell Technologies Inc. - Business segments

Segment Name Description

Infrastructure Solutions Group (ISG) Under this segment, the company offers multi cloud
environments, machine learning, artificial intelligence,
and data analytics. ISG helps customers simplify,
streamline, and automate cloud operations.
Client Solutions Group Under this segment, the company offers branded
personal computers (PCs) including notebooks,

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desktops, and workstations and branded peripherals
including displays and docking stations, as well as
third-party software and peripherals.

Dell Technologies Inc. - Key news

Year Key News

2024 In May, the company expanded the Dell AI factory


with NVIDIA to include new server, edge, workstation,
solutions and services advancements that speed AI
adoption and innovation.
2024 In April, the company introduced multicloud data
protection and AI advances to counter increasing
cyberattacks
2024 In March, the company expanded its partnership with
CrowdStrike for delivering comprehensive managed
detection and response.
2023 In July, the company signed a definitive agreement to
acquire Moogsoft, an AI-driven provider of intelligent
monitoring solutions that support development and
operations (DevOps) and ITOps (information
technology operations).
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Dell Technologies Inc. - Key offerings

Key Offerings Description

IT services The company offers IT services such as including


personal computers, servers, storage, and cloud
computing.

Dell Technologies Inc. - Segment focus

Segment Focus

Infrastructure Solutions Group (ISG) High

Client Solutions Group Low

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SWOT

Components Factors

Strength o Strong presence in Europe


o Diverse service offerings
Weakness o High operational costs
o Weak performance in selective divisions
Opportunity o Growth in cybersecurity services
o Expansion in digital transformation
Threat o Economic uncertainties
o Regulatory challenges
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14.11 Deloitte Touche Tohmatsu Ltd.

Deloitte Touche Tohmatsu Ltd. is a privately held company headquartered in UK. It is a global company
generating over $1,000 million in revenues, and with over 1,000 employees. Its revenue from the information
technology (IT) services market in Latin America contributes to its overall revenues along with its other
offerings, but it is not a key revenue stream for the company.

Deloitte Touche Tohmatsu Ltd. - Overview

Deloitte Touche Tohmatsu Ltd. - Product / Service

Segment Name Description


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Unified Under this segment, the company provides leading


audit and advisory services.

Deloitte Touche Tohmatsu Ltd. - Key offerings

Key Offerings Description

IT services The company offers IT services such as services,


including consulting, and audit.

SWOT

Components Factors

Strength o Diverse service offerings


o Strong presence in Europe
Weakness o Weak performance in selective divisions
o High dependency on consulting

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Opportunity o Expansion in digital transformation
o Growth in cloud and digital services
Threat o Regulatory challenges
o Intense competition
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14.12 Ernst and Young Global Ltd.

Ernst and Young Global Ltd. is a privately held company headquartered in UK. It is a global company
generating $ 0 -100 million in revenues, and with over 1,000 employees. Its revenue from the information
technology (IT) services market in Latin America contributes to its overall revenues along with its other
offerings, but it is not a key revenue stream for the company.

Ernst and Young Global Ltd. - Overview

Ernst and Young Global Ltd. - Product / Service

Segment Name Description


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Unified Under this segment, the company provides consulting


services that help to solve clients toughest
challenges and build a better working world for all.

Ernst and Young Global Ltd. - Key offerings

Key Offerings Description

IT services The company offers IT services such as audit, tax,


and consulting.

SWOT

Components Factors

Strength o Strong presence in Europe


o Diverse service offerings
Weakness o High dependency on consulting
o High operational costs

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Opportunity o Growth in cloud and digital services
o Expansion in AI and automation
Threat o Intense competition
o Economic uncertainties
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14.13 HCL Technologies Ltd.

HCL Technologies Ltd. is a public company headquartered in India. It is a global company generating $
13,480.3 million in revenues and has around 225,944 employees. Its revenue from the information technology
(IT) services market in Latin America contributes to its overall revenues along with its other offerings, but it is
not a key revenue stream for the company.

HCL Technologies Ltd. - Overview


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HCL Technologies Ltd. - Business segments

Segment Name Description

IT and Business Services Under this segment, the company provides a


comprehensive portfolio of IT and business services
and digital transformation services enabled by digital
and analytics, IoTWoRKs, cloud native and
cybersecurity solutions, including products developed
within these businesses.

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Engineering and Research and Development Services Under this segment, the company provides
comprehensive engineering services and solutions
across software, embedded, mechanical, VLSI and
platform engineering that support the end to end
lifecycle of products.
HCL Software Under this segment, the company includes
standalone product businesses that provide
modernized software products to global clients for
their technology and industry specific requirements.

HCL Technologies Ltd. - Key news

Year Key News

2024 In May, the company announced a global strategic


collaboration agreement with Amazon Web Services
to accelerate GenAI-led enterprise digital
transformation.
2024 In April, the company announced that it received three
partner of the year awards at the Google Cloud Next
24, held in Las Vegas.
2024 In April, the company announced its collaboration
with Chennaiyin Football Club as the social cause
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partner for its 10th season in Indian Super League.

HCL Technologies Ltd. - Key offerings

Key Offerings Description

IT services The company offers IT services such as analytics,


cloud, engineering, and cybersecurity.

HCL Technologies Ltd. - Segment focus

Segment Focus

IT and Business Services High

Engineering and Research and Development Services Medium

HCL Software Low

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SWOT

Components Factors

Strength o Diverse service offerings


o Market leader in networking solutions
Weakness o High operational costs
o High dependence on PC sales
Opportunity o Expansion in AI and automation
o Growth in cybersecurity and cloud services
Threat o Economic uncertainties
o Intense competition
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14.14 Hewlett Packard Enterprise Co.

Hewlett Packard Enterprise Co. is a public company headquartered in US. It is a global company generating $
29,135.0 million in revenues and has around 62,000 employees. Its revenue from the information technology
(IT) services market in Latin America contributes to its overall revenues along with its other offerings, but it is
not a key revenue stream for the company.

Hewlett Packard Enterprise Co. - Overview


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Hewlett Packard Enterprise Co. - Business segments

Segment Name Description

Compute Under this segment, the company offers secure and


versatile HPE ProLiant rack and tower servers.
HPC and MCS Under this segment, the company offers specialized
compute servers designed to support specific use
cases.

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Storage Under this segment, the company offers products
and service offerings that are AI driven and built for
cloud environments with flexible consumption
models from HPE GreenLake and flexible investment
options.
Intelligent Edge Under this segment, the company offers wired and
wireless LAN hardware products such as Wi-Fi
access points, switches, routers and sensors.
Financial Services Under this segment, the company offers flexible
investment solutions, such as leasing, financing, IT
consumption, and utility programs and asset
management services, for customers.
Corporate Investment Under this segment, the company offers research and
development, the Communications and Media
Solutions business and certain business incubation
projects.

Hewlett Packard Enterprise Co. - Key news

Year Key News

2024 In January, the company named Kristin Major as


Executive Vice President and Chief People Officer.
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2024 In January, the company acquired Juniper Networks


to accelerate AI driven innovation.
2023 In July, the company collaborated with Microsoft to
offer Teradata VantageCloud Lake on Microsoft
Azure.

Hewlett Packard Enterprise Co. - Key offerings

Key Offerings Description

IT services The company offers IT services such as servers,


storage, and networking.

Hewlett Packard Enterprise Co. - Segment focus

Segment Focus

Compute High

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HPC and MCS Low

Storage Low

Intelligent Edge Low

Financial Services Low

Corporate Investment Low

SWOT

Components Factors

Strength o Market leader in networking solutions


o Strong brand recognition
Weakness o High operational costs
o Dependency on hardware sales
Opportunity o Growth in cybersecurity and cloud services
o Expansion in 5G technology
Threat o Intense competition
o Regulatory challenges
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14.15 International Business Machines Corp.

International Business Machines Corp. is a public company headquartered in US. It is a global company
generating $ 61,860.0 million in revenues and has around 187,000 employees. Its revenue from the
information technology (IT) services market in Latin America contributes to its overall revenues along with its
other offerings, but it is not a key revenue stream for the company.

International Business Machines Corp. - Overview


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International Business Machines Corp. - Business segments

Segment Name Description

Software Under this segment, the company offers software


platforms and solutions, which enables clients to
predict, automate, secure and modernize solutions,
on a secure hybrid cloud.

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Consulting Under this segment, the company offers consulting,
application management and business process
services.
Infrastructure Under this segment, the company offers servers,
storage systems, system hardware, and operating
system software.
Financing Under this segment, the company includes
commercial financing, client financing,
remanufacturing, and remarketing of assets.

International Business Machines Corp. - Key news

Year Key News

2024 In May, the company and Mizuho Financial Group Inc.


collaborated on the development of a proof of
concept using watsonx, International Business
Machines Corp enterprise generative AI and data
platform, to improve the efficiency and accuracy of
Mizuhos event detection operations.
2024 In May, the company and Service Now collaborated to
accelerate the impact of generative AI across the
enterprise.
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2024 In February, the company announced the launch of


IBM LinuxONE 4 Express for small and medium sized
businesses and within new data center environments.
2024 In February, the company collaborated with Wipro and
launched an Enterprise AI Ready Platform, leveraging
International Business Machines Corp.watsonx, to
advance enterprise adoption of Generative AI.
2024 In January, the company collaborated with GSMA to
accelerate AI adoption and skills for the telecoms
sector.

International Business Machines Corp. - Key offerings

Key Offerings Description

IT services The company offers IT services such as AI and


analytics, blockchain, and security.

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International Business Machines Corp. - Segment focus

Segment Focus

Software High

Consulting Medium

Infrastructure Medium

Financing Low

SWOT

Components Factors

Strength o Strong brand recognition

Weakness o Dependency on hardware sales


o High dependency on PC sales
Opportunity o Expansion in 5G technology
o Growth in cloud computing
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Threat o Regulatory challenges


o Intense competition

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14.16 KPMG International Ltd.

KPMG International Ltd. is a privately held company headquartered in The Netherlands. It is a global company
generating over $1,000 million in revenues, and with over 1,000 employees. Its revenue from the information
technology (IT) services market in Latin America contributes to its overall revenues along with its other
offerings, but it is not a key revenue stream for the company.

KPMG International Ltd. - Overview

KPMG International Ltd. - Product / Service

Segment Name Description


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Unified Under this segment, the company offers audit, tax,


legal and other services.

KPMG International Ltd. - Key offerings

Key Offerings Description

IT services The company offers IT services such as audit, tax,


advisory, and automation.

SWOT

Components Factors

Strength o Strong brand recognition


o Diverse product portfolio
Weakness o High dependency on PC sales
o High operational costs

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Opportunity o Growth in cloud computing
o Expansion in AI and edge computing
Threat o Intense competition
o Economic uncertainties
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14.17 Microsoft Corp.

Microsoft Corp. is a public company headquartered in US. It is a global company generating $ 245,122.0
million in revenues and has around 221,000 employees. Its revenue from the information technology (IT)
services market in Latin America contributes to its overall revenues along with its other offerings, but it is not
a key revenue stream for the company.

Microsoft Corp. - Overview


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Microsoft Corp. - Business segments

Segment Name Description

Intelligent Cloud Under this segment, the company consists of public,


private, and hybrid server products and cloud
services that can power modern business and
developers.
Productivity and Business Processes Under this segment, the company consists of
products and services in portfolio of productivity,

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communication, and information services, spanning a
variety of devices and platforms.
More Personal Computing Under this segment, the company consists of
products and services that put customers at the
center of the experience using technology.

Microsoft Corp. - Key news

Year Key News

2024 In October, the company unveiled several innovations


for Microsoft Cloud for Healthcare that connect care
experiences, enhance team collaboration, empower
healthcare workers, and unlock clinical and
operational insights.
2024 In October, the company announced a strategic
partnership with Rezolve AI to empower retailers with
advanced capabilities for digital engagement.
Through this collaboration, Rezolve AIs Brain Suite
includes Brain Commerce, Brain Checkout, and Brain
Assistant.
2024 In April, the company and Axel Springer SE had
announced an expanded, multifaceted partnership
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across advertising, AI, content and cloud computing.


2024 In April, the company and Cognizant announced an
expanded partnership with the goal of making
Microsoft generative AI and Copilots available to
millions of users, to transform enterprise business
operations, enhance employee experiences and
accelerate cross-industry innovation.
2024 In April, the company and The Coca-Cola Company
announced a five-year strategic partnership to align
Coca-Cola core technology strategy systemwide.
2024 In March, the company partnered with Oracle Corp.
for global sale of Oracle Database Azure.
2024 In January, the company signed a 10 year strategic
partnership with Vodafone to introduce generative AI,
digital services, and the cloud to more than 300
million businesses and consumers.

Microsoft Corp. - Key offerings

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Key Offerings Description

IT services The company offers IT services such as productivity


software, cloud computing, and operating systems.

Microsoft Corp. - Segment focus

Segment Focus

Intelligent Cloud High

Productivity and Business Processes Medium

More Personal Computing Medium

SWOT

Components Factors

Strength o Diverse product portfolio


o Strong brand recognition
Weakness o High operational costs
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o High dependency on key markets


Opportunity o Expansion in AI and edge computing
o Growth in digital transformation
Threat o Economic uncertainties
o Regulatory challenges

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14.18 PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP is a public company headquartered in UK. It is a global company generating $


55,400.0 million in revenues and has around 370,393 employees. Its revenue from the information technology
(IT) services market in Latin America contributes to its overall revenues along with its other offerings, but it is
not a key revenue stream for the company.

PricewaterhouseCoopers LLP - Overview


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PricewaterhouseCoopers LLP - Product / Service

Segment Name Description

Unified Under this segment, the company provides audit, tax,


and consulting services with a focus on risk
management.

PricewaterhouseCoopers LLP - Key offerings

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Key Offerings Description

IT services The company offers IT services such as technology


strategy, cloud computing, data analytics, artificial
intelligence, and managed services.

SWOT

Components Factors

Strength o Strong brand recognition


o Diverse service offerings
Weakness o High operational costs
o Dependency on key markets
Opportunity o Growth in digital transformation
o Expansion in cybersecurity services
Threat o Regulatory challenges
o Intense competition
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15
Appendix
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15.1 Scope of the report

15.1.1 Market definition

Information technology services are defined as applications of businesses and technical expertise that allow
organizations to manage and optimize or access information and business processes. Information
technology services include various categories such as data processing and outsourcing, internet services
and infrastructure, information technology consulting, and other services.

15.1.2 Objectives

• To provide actionable intelligence alongside the market size of various segments

• To detail the major factors influencing the market (drivers, opportunities, industry-specific challenges, and
other critical issues)

• To determine the geographic breakdown of the market in terms of detailed analysis and impact

• To analyze business dimensions with an eye on individual growth trends and the contribution of upcoming
market segments
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• To track the competitive landscape of the market

15.1.3 Notes and caveats

• Market size has been derived based on demand.

• Market forecast does not take inflation into consideration.

• The selling price has been considered for market analysis. Selling price refers to the price at which
manufacturers or service providers sell their products or services.

• For readability, all figures have been rounded off (as necessary). Therefore, the numbers presented
throughout this report may not add up precisely to the totals provided.

• Revenues of vendors mentioned in this report have been obtained from the latest available annual reports.

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• Vendors have been identified based on their revenue, market visibility, geographic reach, and contribution
to market developments.

• Countries in rest of the Latin America includes Chile, Uruguay, Peru and Cuba.
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15.2 Inclusions and exclusions checklist

Inclusions checklist

Inclusion

Service revenue

License revenue

Exclusions checklist

Exclusion

Captive consumption
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15.3 Currency conversion rates for US$

The currency conversion rates used in this report are given in the table below.

Currency conversion rates for US$

Currency Symbol 2022 2023 2024

Australian Dollar AUD 0.6950 0.6644 0.6602

British Pound GBP 1.2369 1.2436 1.2786

Canadian Dollar CAD 0.7689 0.7410 0.7303

Chinese Yuan CNY 0.1488 0.1413 0.1390

Danish Kroner DKK 0.1416 0.1452 0.1451

Euro EUR 1.0537 1.0816 1.0824

Japanese Yen JPY 0.0077 0.0071 0.0066

Korean Won KRW 0.0008 0.0008 0.0007


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Swiss Franc CHF 1.0481 1.1134 1.1366

UAE Dirham AED 0.2723 0.2723 0.2723

Hong Kong Dollar HKD 0.1277 0.1277 0.1282

Indian Rupee INR 0.0127 0.0121 0.0120

Taiwan Dollar TWD 0.0336 0.0321 0.0311

South African Rand ZAR 0.0614 0.0542 0.0546

Swedish Krona SEK 0.0992 0.0943 0.0947

Singapore Dollar SGD 0.7256 0.7447 0.7487

Norwegian Krone NOK 0.1044 0.0948 0.0931

Kuwaiti Dinar KWD 3.2644 3.2531 3.2588

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15.4 Research methodology

Research methodology
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15.5 Data procurement

Information sources
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15.6 Data validation

Data validation
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15.7 Validation techniques employed for market sizing

Validation techniques employed for market sizing


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15.8 Data synthesis

Data synthesis
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15.9 360 degree market analysis

360 degree market analysis


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15.10 List of abbreviations

The abbreviations used in this report are listed in the table below.

List of abbreviations

Abbreviations Expansion

AI artificial intelligence

BaaS backend as a service

BFSI banking, financial services, and insurance

BPO business process outsourcing

IaaS infrastructure as a service

IDE integrated development environment

IoT internet of things

IT information technology
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NAS network-attached storage

PaaS platforms as a service

ROI return on investment

SaaS software-as-a-service

SAN storage area network

SMBs small and medium-sized businesses

SMBs medium-sized businesses

TCS Tata Consultancy Services Ltd

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