Latin America Everything As A Service (Xaas) Market 2023-2030

Latin America Everything As A Service (Xaas) Market 2023-2030

MARKET OUTLOOK

As per Triton’s report, the Latin America everything as a service (XaaS) market is estimated to progress with a compound annual growth rate of 19.08% during the forecast period 2023-2030. Mexico, Brazil, and Rest of Latin America are evaluated in the region’s market.

Cloud usage is soaring at a rapid pace in Mexico, with approximately 84% of businesses employing a cloud-based service. Several industrial sectors have shifted to the cloud platform in recent years to streamline operations. As per estimates, a significant number of enterprises are examining the use of AI and ML. Further, several companies like Microsoft have announced investment plans to accelerate digital transformation in the country. Therefore, these developments accelerate the XaaS market’s expansion.

Similarly, multiple companies have increased investment in AI, could, and blockchain solutions to accelerate their business growth in Argentina. For instance, IBM invested around $15 million in the country’s startups and institutes to surge technological transformation. Google also plans to launch its engineering centers in Argentina to keep pace with its cloud rollouts. Such strategic steps are expected to create demand for data-driven technologies, thereby fueling everything as a service market’s development.

COMPETITIVE OUTLOOK

The firms listed in the everything as a service (XaaS) market comprises Amazon.Com Inc, VMware Inc, Alibaba Group Holding Ltd, SAP SE, and Salesforce Inc.