Emphasis on Component [Solutions (Cloud Computing, Big Data & Analytics, Mobility, Disruptive Technology, Social Media); Services (Professional Services, System Integration)]; by Deployment Type (On-Premises, Cloud); by End-User (Large Enterprises, Small and Medium Enterprises); Industry Verticals (BFSI, Government, Healthcare, Telecom & IT, Automotive, Retail & Consumer Goods, Media & Entertainment, Manufacturing, Other industry) and Country
Digitalization is the cause of large-scale and sweeping transformations across multiple aspects of business, providing unparalleled opportunities for value creation and capture, while also representing a major source of risk. The rapid advances in digital technology are redefining the society. 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. Digital technologies are dramatically reshaping every industry, several companies are doing large-scale change efforts to capture the benefits of the ongoing digital transformation trend or simply to keep up with their competitors. The leading mobile access technology, 4G accounted for 41% of total connections in 2018. 4G is forecast to be the dominant technology in 2020, continuing to scale up even after 5G begins in 2020. This is evident with operator deployments of LTE-A; a total of 22 operators have launched speeds supporting 100 Mbps to 1 Gbps to date. A further 10 operator’s plans to do so in coming few years. 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.
5G Launch Forecast by Country, Latin America
Insights Presented in the Report
“Amongst component, Solution segment holds the major share.”
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 in 2020. However, Service segment is expected to witness highest CAGR growth of 18.09% during the forecast period (2021-2027).
“Amongst deployment type, cloud dominated the market in 2020.”
Based on Deployment type the market is segmented into On-premises and cloud deployment. Currently, cloud deployment model dominated the market and generated revenue of US$ 324.5 billion in 2020. The On-premises segment is expected to witness CAGR growth of 12.9% during the forecast period.
“Amongst End-user, large enterprises are expected to dominate the market during the analyzed period.”
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$ 2.79 billion in 2020. SMEs segment is expected to witness CAGR growth of 16.37% during the analyzed period.
“Amongst industry verticals, Banking Financial Services & Insurance dominated the market 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. BFSI generated highest revenue of US$9.26 billion in 2020.
“United States represents as the largest markets in the Latin America Digital Transformation market.”
For better understanding of the market penetration of digital transformation, the report provides detailed analysis of major countries including Latin America (Brazil, Argentina, Rest of Latin America). Some of the major players operating in the market include IBM Corporation, Cognizant, SAP SE, Dell, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini, Oracle Corporation and Google Inc.
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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
Analyzing the historical market, estimation of the current market, and forecasting the future of the MEA Digital Transformation Market were the three major steps undertaken to create and analyze the adoption of Digital Transformation across various industry verticals in major MEA countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the digital transformation sector. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MEA Digital Transformation through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Digital Transformation market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by component, deployment type, end-user, and industry verticals. Further country-level analyses were conducted to evaluate the overall adoption of the Digital Transformation in the MEA region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Digital Transformation in the MEA region. Further, we conducted factor analysis using dependent and independent variables such as growth of penetration of digital technologies across different industry and various government initiatives in the region. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the MEA Digital Transformation industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MEA Digital Transformation market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major countries in the MEA region. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the MEA Digital Transformation market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, deployment type, end-user, and industry verticals.
The main objective of the Digital Transformation Market Study
The current & future market trends of the MEA Digital Transformation market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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