London, 17 June 2014: TechNavio, the independent tech-focused global research firm, has published a new market research report on the Cloud Computing Market in Latin America, which is projecting a CAGR of 26.1 percent from 2013-2018.
The report covers key factors driving uptake of cloud computing services in Argentina, Mexico and Brazil.
According to TecNavio, factors like adoption of virtualization are influencing uptake of SaaS, IaaS and PaaS-based cloud services.
“Virtualization is essential for increasing IT efficiency, and it has made significant inroads in Latin America recently. Additionally, the number of virtual machines is expected to grow five-fold in the region, as it is becoming more of a necessity than an option for end-users to adapt to virtualization,” says Faisal Ghaus, Vice President of TechNavio.
Additionally the TechNavio report cites a changing workforce environment as another major factor contributing to market growth in the region.
With constantly changing business scenarios, it is necessary for organizations to develop a mobile workforce to stay competitive. Hence, the demand for flexible IT services is also increasing, which can be met by cloud solutions. Also, the concept of BYOD, which allows employees to use their personal devices such as laptops, tablets, and smartphones for work, is gaining popularity.
Further, changes in work locations, time zone barriers, and the need to access official and confidential data via employees’ personal devices is resulting in an increased demand for cloud services. In order to address these issues, IT service providers are now providing their cloud services tailor-made for smartphones and tablets. This trend is expected to strengthen in the future, thereby pushing the market’s growth.
Key Vendors:
- Amazon Web Services Inc.
- Google Inc.
- IBM Corp.
- Microsoft Corp.
- Rackspace Hosting Inc.
- Salesforce.com Inc.
- Verizon Communications Inc.
The TechNavio report also delves into market drivers and challenges expected to significantly impact market growth over the projected period.
To determine these market scenarios over the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Cloud Computing Market in Latin America please send an e-mail to media@TechNavio.com.
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