According to MarkNtel Advisors, the Latin America Cloud Storage Services Market is likely to grow at a CAGR of 27% in the forecast period of 2021-26. The most prominent factor contributing to the market growth is mounting demand for low-cost data backup, storage, and protection across all businesses
The research report “Latin America Cloud Storage Services Market Analysis, 2021” also states that a substantial pool of data is generated by augmented usage of mobile technologies, thereby influencing the adoption rate of cloud storage services. Companies need to store a large amount of data for their business purposes, and Cloud-Based Storage Services offer an appropriate platform to them for the same. Such potential benefits are also likely to boost the overall market growth in the coming years.
Key Questions Answered in the Study
Public Cloud Dominated the Latin America Cloud Storage Services Market
Based on the Deployment, the market segments into Public Cloud, Private Cloud, and Hybrid Cloud. Of these three, Public Cloud attained the largest share of the Latin America Cloud Storage Services Market in the previous few years. The most preferred way of implementing cloud storage services is the public cloud. Further, cloud infrastructure like servers is owned & operated by third-party service providers. Additionally, Public Cloud Deployment offers web-based emails and testing & online office applications. Some good examples of public cloud include Google Inc.’s App Engine and Microsoft Corporation’s Microsoft Azure.
“Latin America Cloud Storage Services Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Cloud Storage Services providers across Latin America. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Latin America Cloud Storage Services Market to Witness Significant Growth in Mexico During the Forecast Period
Of all countries in the region, the Latin America Cloud Storage Services Market is likely to witness the fastest growth in Mexico during the forecast period, primarily due to the rapid adoption of technology and burgeoning e-commerce penetration in the country. Moreover, the presence of highly connected end-consumers in Mexico further augments the demand for Cloud Storage Services, thereby driving the market in Mexico, reveals MarkNtel Advisors in their research report, “Latin America Cloud Storage Services Market Analysis, 2021.”
According to MarkNtel Advisors, the leading industry players in the Latin America Cloud Storage Services Market are Amazon Web Storage, Google Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, VMware, Inc., Hewlett Packard Enterprises, Rackspace, SAS Corporation, Dropbox, and Cisco.