Latin America Digital Transformation Market Overview
According to SPER Market Research, the Latin America Digital Transformation Market is estimated to reach USD 207.87 billion by 2032 with a CAGR of 15.13%.
Digital transformation is the integration of digital technology throughout all functions of a company, radically altering how businesses function and provide value to their clients. It has an impact on every aspect of society, particularly economies. New digital technologies like social networks, smartphones, big data, the Internet of things, and other developments like blockchain are now giving businesses the chance to drastically modify their business models. When businesses need to put up management practices to carry out these complicated transformations, this frequently involves modifications to organizational structures, products, processes, and fundamental company operations. Today's businesses are becoming more and more aware that they need to sell an experience as well as their products. Today, a growing number of goods generate and consume data, and many of them are connected to one another via the Web. Their usage can be tracked, new services can be supplied proactively, and maintenance can be given when an issue is found thanks to this improved intelligence. Large-scale developments in many facets of business are being brought about by digitalization, which offers unmatched prospects for value generation and capture while also being a significant source of risk. The society is changing as a result of the quick development of digital technology.
New digital technologies like social networks, smartphones, big data, the Internet of things, and other developments like blockchain are now giving businesses the chance to drastically modify their business models. When businesses need to put up management practices to carry out these complicated transformations, this frequently involves modifications to organizational structures, products, processes, and fundamental company operations. Today's businesses are becoming more and more aware that they need to sell an experience as well as their products. Today, a growing number of goods generate and consume data, and many of them are connected to one another via the Web. This improved intelligence allows for the monitoring of their usage, the proactive offering of extra services, or the provision of maintenance when a problem arises. Digital transformation may take time to produce benefits, but if one wants to thrive in the competitive environment, they cannot choose not to undergo change. The market for digital technologies is expected to expand in the Latin American region thanks to the region's rapidly expanding smartphone penetration and the advent of new technologies.
-011072723022023.jpg)
Impact of COVID-19 on the Latin America Digital Transformation Market
Due to the coronavirus's effects and the ensuing, unprecedented outflows of capital that resulted, markets throughout Latin America are predicted to enter a recession. Fintech and e-commerce, two of Latin America's most promising growth industries, are aligned with consumer requirements during the epidemic and are anticipated to influence long-term changes in consumer behavior, offering chances for investors to enter these long-term growth sectors on advantageous terms. According to research, the popularity of digital services has increased since the coronavirus first appeared in South America. More than half of Argentinians who responded to a March survey said they would utilize digital banking services rather than visit a bank or ATM. As a result, digital banks may have a perfect opportunity to lure clients away from the frequently monopolistic traditional banking companies and permanently alter consumer behavior.
Digital banking and payment systems enable consumers to buy necessary goods from home, fueling growth in e-commerce, another important sector. Food delivery, another important digital sector that provides people with familiar comforts throughout the pandemic, supports e-commerce. This included a rise in grocery store orders as Latin Americans started to sequester themselves. Despite the virus's widespread social and economic devastation, there are still important, long-term growth areas in Latin America that astute investors should take into account.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Component, By Deployment Type, By End User, By Industry Vertical
|
| Regions covered | Brazil, Argentina, Rest of Latin America
|
| Companies Covered | Accenture PLC, Adobe Systems Incorporated, Capgemini, Cognizant, Dell, Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE
|
Latin America Digital Transformation Market Segmentation:
1. By Component:
2. By Deployment Type:
- Cloud Deployment
- On-Premises
3. By End User:
4. By Industry Vertical:
- Automotive
- BFSI
- Education
- Government
- Healthcare
- Media and Entertainment
5. By Region:
- Brazil
- Argentina
- Rest of Latin America
Key Topics Covered in the Report:
- Size of Latin America Digital Transformation Market (FY’2019-FY’2032)
- Overview of Latin America Digital Transformation Market
- Segmentation of Latin America Digital Transformation Market By Component (Services, Solutions)
- Segmentation of Latin America Digital Transformation Market By Deployment Type (Cloud Deployment, On-Premises)
- Segmentation of Latin America Digital Transformation Market By End User (Large Enterprise, SME’s)
- Segmentation of Latin America Digital Transformation Market By Industry Vertical (Automotive, BFSI, Education, Government, Healthcare, Media and Entertainment, Retail & Consumer Goods, Telecom & IT, Others)
- Statistical Snap of Latin America Digital Transformation Market
- Latin America Digital Transformation Market Growth Analysis
- Problems and Challenges in Latin America Digital Transformation Market
- Latin America Digital Transformation Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Latin America Digital Transformation Market
- Details on Recent Investment in Latin America Digital Transformation Market
- Competitive Analysis of Latin America Digital Transformation Market
- Major Players in the Latin America Digital Transformation Market
- SWOT Analysis of Latin America Digital Transformation Market
- Latin America Digital Transformation Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Latin America Digital Transformation Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Latin America Digital Transformation Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Latin America Digital Transformation Market
7. Latin America Digital Transformation Market, By Component, 2019-2032 (USD Million)
7.1 Services
7.1.1 Professional Services
7.1.2 System Integration
7.2 Solutions
7.2.1 Big Data and Analytics
7.2.2 Cloud Computing
7.2.3 Disruptive Technology
7.2.4 Mobility
7.2.5 Social Media
8. Latin America Digital Transformation Market, By Deployment Type, 2019-2032 (USD Million)
8.1 Cloud Deployment
8.2 On-Premises
9. Latin America Digital Transformation Market, By End User, 2019-2032 (USD Million)
9.1 Large Enterprise
9.2 SME’s
10. Latin America Digital Transformation Market, By Industry Vertical, 2019-2032 (USD Million)
10.1 Automotive
10.2 BFSI
10.3 Education
10.4 Government
10.5 Healthcare
10.6 Media and Entertainment
10.7 Retail & Consumer Goods
10.8 Telecom & IT
10.9 Others
11. Latin America Digital Transformation Market, By Region, 2019-2032 (USD Million)
11.1 Latin America Digital Transformation Size and Market Share by Region (2019-2025)
11.2 Latin America Digital Transformation Size and Market Share by Region (2026-2032)
11.3 Brazil
11.4 Argentina
11.5 Rest of Latin America
12. Company Profiles
12.1 Accenture PLC
12.1.1 Company details
12.1.2 Financial outlook
12.1.3 Product summary
12.1.4 Recent developments
12.2 Adobe Systems Incorporated
12.2.1 Company details
12.2.2 Financial outlook
12.2.3 Product summary
12.2.4 Recent developments
12.3 Capgemini
12.3.1 Company details
12.3.2 Financial outlook
12.3.3 Product summary
12.3.4 Recent developments
12.4 Cognizant
12.4.1 Company details
12.4.2 Financial outlook
12.4.3 Product summary
12.4.4 Recent developments
12.5 Dell
12.5.1 Company details
12.5.2 Financial outlook
12.5.3 Product summary
12.5.4 Recent developments
12.6 Google Inc.
12.6.1 Company details
12.6.2 Financial outlook
12.6.3 Product summary
12.6.4 Recent developments
12.7 IBM Corporation
12.7.1 Company details
12.7.2 Financial outlook
12.7.3 Product summary
12.7.4 Recent developments
12.8 Microsoft Corporation
12.8.1 Company details
12.8.2 Financial outlook
12.8.3 Product summary
12.8.4 Recent developments
12.9 Oracle Corporation
12.9.1 Company details
12.9.2 Financial outlook
12.9.3 Product summary
12.9.4 Recent developments
12.10 SAP SE
12.10.1 Company details
12.10.2 Financial outlook
12.10.3 Product summary
12.10.4 Recent developments
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
