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Latin America Digital Transformation Market 2021 Key Report Highlights, Segments, Geographical Outlook, Competition Dynamics and Growth Objectives by 2027

11-03-2021 11:48 AM CET | IT, New Media & Software

Press release from: UnivDatos Market Insights (UMI)

Latin America Digital Transformation Market 2021 Key Report

Latin America Digital Transformation Market is expected to reach the market valuation of US$ 98.9 billion by 2027 expanding at a reasonable CAGR of 14.9% during the forecast period (2021-2027) from US$ 37.96 billion in 2020. Companies are now being provided with an opportunity to radically change their business models by new digital technologies like social networks, mobile, big data, Internet of things, other innovations like blockchain. This typically includes changes of the core business operations and modifies products and processes, as well as organizational structures, as companies ought to set up management practices to conduct these complex transformations.

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Organizations today increasingly realize they can no longer focus on just selling products; they need to sell an experience. An increasing number of products today both consume and generate data, and many are interconnected through the Web. Because of this increased intelligence, their usage can be monitored, additional services can be proactively offered, or maintenance can be provided when a problem is detected. The results of digital transformation may take time but not opting for transformation is not an option for one to survive in the competitive world. For instance, according to the study conducted by a renowned consulting firm, 40% of organizations have reached scale for their digital initiative and 91% of organizations are engaged in some form of digital initiative globally (including Latin America).

Rapid growing smartphone penetration and emergence of new technologies have paved the way for the market for digital technologies to grow in the Latin American region. For instance, Unique mobile subscribers to reach around 490 million in Latin America by 2025. Three market including Brazil, Mexico, and Argentina to account for more than 33% share in the overall Unique mobile subscribers in Latin America by 2025. Furthermore, penetration of 5G technology in the Latin America is expected to reach 8% by 2025. Companies move twice as fast on digital transformation when there is a shared understanding among senior leaders, strategists, and the organization of the digital path ahead. Executives believe the top benefits of digital transformation are improved operational efficiency (40%), faster time to market (36%), and the ability to meet customer expectations (35%).

Based on the component, the Latin American digital transformation market is bifurcated into Solutions and Services. The solution sub-segment is further divided into cloud computing, big data and analytics, mobility, disruptive technology, and social media. Moreover, Service segment is divided into professional services and system integration. Solution segment dominated the market and generated revenue of US$ 29.86 billion in 2020. Based on Deployment type the market is segmented into On-premises and cloud deployment. Currently cloud deployment model dominated the Latin American digital transformation market. A study conducted by E-consultancy and Marketing Week surveyed on various marketers across the world from various sectors and revealed a dramatic shift in focus towards digital transformation because of COVID-19 pandemic. The study further showed the extent to which organizations, majorly large enterprises are relying on digital technology in response to changes in the customer behavior during the pandemic crisis.

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Based on end-user the Latin American digital transformation market is bifurcated into large enterprises and SME’s. Owing to high cost of digital technology deployment large enterprise invested most on digital technology. The segment generated revenue of US$ 23.79 billion in 2020. Based on industry vertical, the market is fragmented into BFSI, healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, and others. In the BFSI industry, digital transformation helps to make financial transactions speedy, secure, simple, and error-free.

Additionally, the report provides detailed initiatives that are being taken in the field of digital transformation. The market is classified into distinct countries including Latin America (Brazil, Argentina, Rest of Latin America). Brazil dominated the Latin American digital transformation market, accounting for more than 67.7% share in 2020. IBM Corporation, Cognizant, SAP SE, Dell, Microsoft Corporation, Adobe Systems Incorporated, Accen.ture PLC, Capgemini, Oracle Corporation, and Google Inc are some of the prominent players operating in the global digital transformation market. Several M&A’s along with partnerships have been undertaken by these players to develop digital transformation.

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Latin America Digital Transformation Market Segmentation

Market Insight, by Component

Solution
Cloud Computing
Big Data & Analytics
Mobility
Disruptive Technology
Social Media
Services
Professional Services
System Integration
Market Insight, by Deployment Type

On-Premises
Cloud
Market Insight, by End-User

Large Enterprises
Small and Medium Enterprises
Market Insight, by Industry Verticals

Banking Financial Services & Insurance (BFSI)
Government
Healthcare
Telecommunication & IT
Automotive
Education
Retail & Consumer Goods
Media & Entertainment
Manufacturing
Others
Market Insight, by Country

Latin America
Brazil
Argentina
Rest of Latin America
Top Company Profiles

Accen.ture PLC
Adobe Systems Incorporated
Capgemini
Cognizant
Dell
Google Inc
IBM Corporation
Microsoft Corporation
Oracle Corporation
SAP SE
Table Of Content:

1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 Latin America DIGITAL TRANSFORMATION MARKET DYNAMICS
6 LEGAL & REGULATORY FRAMEWORK
7 DEMAND AND SUPPLY SIDE ANALYSIS
8 VALUE CHAIN ANALYSIS
9 MARKET INSIGHTS BY COMPONENTS
10 MARKET INSIGHTS BY DEPLOYMENT TYPE
11 MARKET INSIGHTS BY END-USER
12 MARKET INSIGHTS BY INDUSTRY VERTICAL
13 MARKET INSIGHTS BY COUNTRY
14 COMPETITIVE SCENARIO
15 COMPANY PROFILED
16 DISCLAIMER

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About UnivDatos Market Insights

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

Contact us:
UnivDatos Market Insights (UMI)
Email: sales@univdatos.com
Web: https://univdatos.com
Ph: +91 7838604911

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