Latin America It Services Market Size & Outlook, 2023-2030
Latin America it services market, 2017-2030 (US$M)
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Latin America it services market highlights
- The Latin America it services market generated a revenue of USD 66,202.8 million in 2023.
- The market is expected to grow at a CAGR of 7.6% from 2024 to 2030.
- In terms of segment, reactive it services was the largest revenue generating approach in 2023.
- Proactive IT Services is the most lucrative approach segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 66,202.8 million |
| Market revenue in 2030 | USD 110,271.9 million |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Reactive it services |
| Fastest growing segment | Proactive IT Services |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Reactive IT Services, Proactive IT Services |
| Key market players worldwide | Amazon.com Inc, Avaya, Cisco Systems Inc, DXC Technology Co Registered Shs When Issued, Fortinet Inc, Hewlett Packard Enterprise Co, Huawei Technologies, International Business Machines Corp, Juniper Networks Inc, Microsoft Corp, Broadcom Inc, Oracle Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.9% of the global it services market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 763,421.5 million by 2030.
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IT Services Market Scope
IT Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America it services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to it services market will help companies and investors design strategic landscapes.
Reactive it services was the largest segment with a revenue share of 55.35% in 2023. Horizon Databook has segmented the Latin America it services market based on reactive it services, proactive it services covering the revenue growth of each sub-segment from 2017 to 2030.
The IT services market in Latin America has been experiencing growth and transformation, driven by factors such as digitalization, increased adoption of technology, and evolving business needs. Investment in technology infrastructure, government support for tech initiatives, and collaborations with international partners will likely shape the market's future trajectory.
The increasing need for IoT and big data operations drives the expansion of the Latin American information technology (IT) services industry. Trends like connected homes, automobiles, and smart cities are gaining popularity. Manufacturing, retail, utilities, automotive, and social media utilize IoT.
IoT devices necessitate an energy-efficient network of smart nodes that must be constantly connected, boosting the use of Internet and infrastructure services while assisting in managing these devices.
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Our clientele includes a mix of it services market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America it services market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America it services market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America it services market size, by country, 2017-2030 (US$M)
Latin America IT Services Market Outlook Share, 2023 & 2030 (US$M)
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