The cloud computing is an IT service delivery model where the third-party service delivers suggest the computing resources and software tools with the help of internet. In this service model, the client pays only as per the usage of the computing device along with the storage and bandwidth they attain. Moreover, the cloud computing effectively suggests different several advantages over on-premises hardware infrastructure, such as faster deployment, cheap cost, scalability, disaster recovery, mobility help, and lower burden on the IT staff to manage the systems. Over the years, the effective acceptance of the cloud computing technology among the corporates, more effectively small and medium corporates, have progressively augmented. The cloud computing merchants suggest three models for the development, namely private, public and hybrid cloud.
According to the report analysis, ‘Latin America Market Insights on Cloud Infrastructure: Insights and Forecast, 2018-2024: Emphasis on Deployment Type (Public Cloud, Private Cloud), Public Cloud Services (SaaS, PaaS, IaaS, Cloud Advertising, BPaaS), End User (Banking, Financial Services and Insurance, Retail, Telecom & IT, Healthcare, Media & Entertainment, Government Agencies, Education, Energy, Manufacturing, Other Industries)’ states that in the Latin America Market insights on Cloud infrastructure, there are several key players which recently functioning more positively for leading the fastest market growth and accounting the handsome value of market share throughout the analyzed duration while effectively improvised the mobility, minimum impact on the environment, positively solving the security concerns and embracing the cloud in Smart and Medium Business (SMB’s) includes Cisco System Inc., Equinix Inc., Google Inc., IBM Corporation, Salesforce. Salesforce.com, AT&T Inc, Amazon Web Services Inc., DXC Technology Company, HP Inc., Rackspace Hosting Inc. and several others.
Additionally, based on the deployment model, the Public cloud services held prominent share in Latin America cloud infrastructure market followed by private cloud due to the rising requirement for the cost effective solutions for data storage. However, on the basis of public cloud services, the Cloud advertising public cloud services accounted the regional cloud infrastructure market predominantly attributed to surge in number of SMEs and changing discernment of organization and consumers about the profit and profitability of digital technology. Not only has this, based on the segmentation by the Private Cloud Services, the Managed Hosting significantly controlled the thoroughgoing share in regional cloud infrastructure market due to the high frequency bandwidth forward-thinking infrastructure and constant security followed by co- location services.
Sideways, based on the region, the Brazil constitute as the biggest computing services market in Latin America followed by Argentina, Chile as the region presents itself as one of the developed IT market in Latin America which has also fascinated numerous SMBs to contrivance cloud computing solutions. Furthermore, in the terms of revenue, Latin America cloud infrastructure market presented remarkable CAGR growth more positively during the reviewed period of 2018-2024. Wide implementation of new technologies such as Internet of Things, Big Data, improvised mobility, cost efficacy, minimum environmental impression and uptake in cloud managed services contribute as the main aspects fueling the cloud infrastructure market in Latin America. Therefore, in the near years, it is predicted that the Latin America Market Insights on Cloud Infrastructure will increase more significantly over the coming decades.
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Ankur Gupta, Head Marketing & Communications