July 19, 2016

Survey: Big Data and Cloud Computing key growth engines in Latin American IT

Security a concern in creating opportunities for technology providers as companies invest in transformational technologies

New analysis from Frost & Sullivan finds that the IT services industry earned revenue of $6.46 billion in 2015 and estimates this to reach $7.78 billion in 2016. The research covers: data center services, Big Data and analytics, cloud computing, managed security services, Internet of Things, smart cities, social business and mobility.

Frost & Sullivan Digital Transformation Consultant, Leandro Scalize, said:

One of the biggest hurdles to the mass adoption of potentially disruptive technologies is security. No matter which technology is in focus, without a well-drawn security strategy, there is little chance of long-term success.

Security will become increasingly relevant as companies continue their digital transformation process. The managed security services sector will grow accordingly, from $580.2 million in 2015 to $687.5 million in 2016, at a growth rate of 18.4 percent. Even though the current leader in IT services revenue continues to be data center services, it could soon change as its compound annual growth rate is the lowest among all the services covered.

A segment that is fast approaching maturity in Latin America is cloud computing, mainly due to the rising awareness and deployment of software as a service (SaaS) and Infrastructure as a Service (IaaS). Public cloud computing services are likely to generate more than $2 billion in 2016. Big Data will play a prominent role in the IT industry driven by the greater emphasis companies are putting on data analytics.

For complimentary access to more information on this analysis, please visit: http://corpcom.frost.com/forms/LA_PR_FValente_K0AB_Jul16

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