Cloud Computing Market in Latin America 2016-2020
About Cloud Computing
Cloud computing solutions are IT solutions deployed over the ICT systems. These solutions eliminate the need to install in-house hardware and software. The cost of in-house IT solutions is relatively low as compared with cloud-based solutions among most of the IT deployment models. Cloud computing solutions have been implemented in a majority of organizations, irrespective of the size of businesses. Firms with high IT budgets are willing to spend more on flexible IT solutions and cloud computing solutions. However, a few firms still use on-premise solutions due to cloud security concerns and the resistance from the in-house IT department.
Technavio’s analysts forecast the cloud computing market in Latin Americato grow at a CAGR of 10.16% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the cloud computing market in Latin America for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of enterprise cloud computing solutions and services by vendors in Latin America.
Technavio's report, Cloud Computing Market in Latin America 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Cloud Computing Market in Latin America 2016-2020.
Technavio recognizes the following companies as the key players in the cloud computing market in Latin America: Amazon Web Services, Microsoft, IBM, Google, and Salesforce.
Other prominent vendors in the market are: HPE, Oracle, Rackspace, Red Hat, SAP, Telefonica, and TIVIT Technology.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is growing momentum of cloud brokerage services. Cloud service brokers act as intermediaries between cloud service providers and businesses that integrate their infrastructures with cloud-computing platforms. These brokers provide management and maintenance services to enterprises. They understand the enterprise requirements and provide them with a set of vendors that meet their current requirement and to some extend future needs, as well. Cloud brokers also provide consulting services and assistance in selecting the right vendor. After procuring solutions, cloud brokers assist clients in integrating application with the existing computing infrastructures. Along with installation and maintenance, cloud service brokers also deliver deduplication, security, and data protection services to enterprises.”
According to the report, one of the primary drivers in the market is digital transformation in businesses. Digital transformation is a key enabler of cloud computing solutions. The ongoing digital reforms in industry verticals such as BFSI, healthcare, and telecom have triggered the demand for cloud computing solutions in Latin America. The digital requirements of several industry verticals are different due to dynamic consumer demand and rapid technological changes. Organizations in Latin America are investing in digital solutions such as digital banking, digital healthcare solutions, advanced manufacturing systems, and connected solutions. A majority of the aforementioned technologies are subscribed through the cloud computing infrastructure. Cloud computing solutions assist organizations in implementing digital technologies with short implementation time.
Further, the report states that one major challenge in the market is technical complexities in cloud implementation. Cloud management platform is required for managing several aspects of cloud deployment, which include monitoring of performance, capacity planning, orchestration, change management, governance, and policy enforcement. However, these involve complexity in implementation as these functions span across several departments of the organization. Also, the spending on application is high because of the hike in costs associated with regulatory compliance such as Health Insurance Portability and Accountability Act (HIPAA), Sarbanes-Oxley, and Family Educational Rights and Privacy Act (FERPA). This poses a challenge to the adoption of cloud management for efficient management of OpenStack-based multi-cloud implementations. A good cloud management platform (CMP) ensures seamless running of applications and workloads that comply with the governance, service management, and compliance policies. As a part of this compliance program, organizations also need evidence to show their adherence to governance and compliance requirements.
Amazon Web Services, Microsoft, IBM, Google, Salesforce, HPE, Oracle, Rackspace, Red Hat, SAP, Telefonica, TIVIT Technology.
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