The ITSM market share in Latin America is set to grow by USD 664.50 million, progressing at a CAGR of 15.13% during the forecast period. Technavio's research report identifies and analyses the growth drivers that will boost the market growth. It also provides a thorough understanding of all the segments, trends, and challenges that are likely to have an impact on the future prospects of the market in focus. Unlock Free Sample Analysis Report
One of the key factors that will drive growth is effective enterprise IT service incident and problem management. However, the accessibility of high-quality data may impede the market growth.
Technavio'sresearch report provides a comprehensive analysis of all the other factors that will boost growth during the forecast period. In addition to market drivers, the research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario.
The ITSM market in Latin America is segmented by end-user (BFSI, IT and telecom, public sector, and others) and geography (Brazil, Mexico, Argentina, Colombia, and Rest of Latin America). The ITSM market growth in Latin America by the BFSI segment will be significant during the forecast period.
66% of the market’s growth will originate from Brazil. Brazil is the key market for the ITSM market in Latin America. Enhanced customer and user experience by minimizing the impact of service disruptions will facilitate the ITSM market growth in Latin America over the forecast period.
The market is fragmented due to the presence of several players. BMC Software Inc., Broadcom Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Ivanti Inc., Microsoft Corp., Oracle Corp., SAP SE, and ServiceNow Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. The customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download the Free PDF Sample Report