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Information Technology Services Market Size In Latin America is set to grow by USD 48.43 billion from 2024-2028, Rising focus on core competencies and improving efficiency to boost the market growth, Technavio

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NEW YORK, Aug. 6, 2024 /PRNewswire/ — The information technology services market size in Latin America is estimated to grow by USD 48.43 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Rising focus on core competencies and improving efficiency is driving market growth, with a trend towards emergence of ai in information management. However, lack of quality standards in slas poses a challenge. Key market players include Accenture Plc, Alphabet Inc., Amazon.com Inc., Atos SE, Capgemini Service SAS, Cisco Systems Inc., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Ernst and Young Global Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., KPMG International Ltd., Microsoft Corp., Oracle Corp., PricewaterhouseCoopers LLP, Salesforce Inc., SAP SE, SONDA S.A., and Tata Consultancy Services Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Project oriented service, Enterprise cloud computing service, IT outsourcing service, and IT support and training service), Deployment (Hosted service and Managed service), and Geography (Latin America)

Region Covered

Latin America

Key companies profiled

Accenture Plc, Alphabet Inc., Amazon.com Inc., Atos SE, Capgemini Service SAS, Cisco Systems Inc., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Ernst and Young Global Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., KPMG International Ltd., Microsoft Corp., Oracle Corp., PricewaterhouseCoopers LLP, Salesforce Inc., SAP SE, SONDA S.A., and Tata Consultancy Services Ltd.

 

Key Market Trends Fueling Growth

Several enterprises worldwide are integrating Artificial Intelligence (AI) into their information technology services to automate processes and enhance efficiency. This technology helps reduce the time spent on paperwork by half of the workforce, thereby increasing return on investment and decreasing costs. AI also brings structure to unstructured data, making it easier to find information, streamlines processes, and enhances information security. These benefits are expected to boost the growth of information technology services in Latin America, making vendors more efficient and competitive in the market. Integrating AI in information services also improves data quality and categorizes and tags information for easy access in the future. These advantages are significant trends driving the growth of the information technology services market in Latin America. 

The Information Technology Services (ITS) market in Latin America is witnessing significant trends. Key verticals like Telecommunication, Healthcare, Manufacturing, and the Finance industry are adopting IT services at an accelerated pace. Firms are exploring both on-premises deployment and cloud-based offerings, with cloud services gaining popularity due to their scalability and cost-effectiveness. However, variables such as lack of standardization, IT service performance, and security breaches pose challenges. Large Enterprises are focusing on feasibility and success rate of IT solutions, while addressing data security concerns and regulatory requirements through managed services, system integration, and consulting. Technology advancements like AI, Machine Learning (ML), IoT, Robotics, and Software-as-a-service are transforming the ITS landscape. Firms are investing in 5G, Blockchain, Augmented Reality, and Artificial Intelligence to improve efficiency and productivity. The International Trade Administration emphasizes the importance of cybersecurity solutions to mitigate risks from cyberattacks. IT infrastructure services, software robots, and Robotic Process Automation are also gaining traction. The feasibility of on-premise and cloud-based solutions will continue to be a topic of debate as firms navigate the complexities of the ITS market. 

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Market Challenges

An Service Level Agreement (SLA) is a contract between an information technology service provider and an end-user, outlining the expected levels of service delivery. SLAs are output-focused and define the benefits and support the customer receives. However, they do not detail the full scope of services. End-users often lack SLA negotiation experience, leading to misunderstandings. Service providers must be transparent about SLAs to increase adoption. SLAs should include uptime, downtime, and outage frequency statistics. End-users must monitor their IT systems’ efficiency to evaluate service effectiveness. Lack of standardized SLAs may hinder the growth of Latin America’s information technology services market.The Information Technology Services Market in Latin America is experiencing significant growth, driven by the adoption of software-as-a-service and cloud-based offerings. IT services, IT infrastructure, and security solutions are in high demand, especially in sectors like finance and international trade. However, challenges such as data breaches require robust security solutions. Technological developments like 5G, blockchain, augmented reality, artificial intelligence, IT infrastructure services, software robots, and robotic process automation are transforming businesses. The professional services sector, remote working, and business plans are also leveraging these technologies. Economic expansion brings opportunities but also potential problems like resource wastage and IT costs. Precise forecasting and business intelligence (BI) tools help save costs through consumption-based pricing models and cloud-based deployments. Scalability and automatic updates are essential for businesses to stay competitive. IT specialists play a crucial role in operations, and talent recruiting and skill sets are key business strategies.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This information technology services market in Latin America report extensively covers market segmentation by

Type 1.1 Project oriented service1.2 Enterprise cloud computing service1.3 IT outsourcing service1.4 IT support and training serviceDeployment 2.1 Hosted service2.2 Managed serviceGeography 3.1 Latin America

1.1 Project oriented service- In Latin America, the Information Technology Services Market encompasses project-oriented offerings such as system integration, information technology consulting, and application development services. System integration involves project planning, management, and detailed design and implementation of application programming interfaces, along with system deployment services like installation, interoperability testing, and other related tasks. Consulting services offer advisory assistance for businesses to enhance operational performance and technology strategies, focusing on areas like e-commerce, telecommunications, hardware system design, software development, and website design. Vendors like Cognizant in Argentina and Deloitte in Brazil provide these services, with Cognizant offering application development and value management, and Deloitte delivering innovation-driven consulting and technology strategy solutions. This market growth is attributed to the increasing demand for digital transformation and modernization initiatives among Latin American enterprises.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Information Technology Services market in Latin America is experiencing significant growth, driven by the adoption of advanced technologies such as Software-as-a-Service (SaaS), Cloud-based offerings, and IT infrastructure services. The region’s economic expansion is fueling the demand for IT services, including IT infrastructure services, Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS). Cloud services are becoming increasingly popular due to their scalability, automatic updates, and consumption-based pricing models. The finance industry is a major vertical driving the adoption of IT services, with a focus on security solutions, including data breach prevention and artificial intelligence-based threat detection. Technologies such as 5G, Blockchain, Augmented Reality, and Robotic Process Automation (RPA) are also gaining traction in the region. RPA, in particular, is being used to automate repetitive tasks and reduce IT costs. The International Trade Administration is playing a key role in promoting IT services exports from Latin America. The implementation of 5G networks and the increasing use of IT clusters are expected to further boost the market’s growth. IT infrastructure, including hardware and software, is also a significant component of the market, with a focus on cloud-based deployments and the integration of emerging technologies such as AI and blockchain. Overall, the Latin American IT services market is poised for continued growth, driven by the region’s economic expansion and the adoption of advanced technologies.

Market Research Overview

The Information Technology Services Market in Latin America is experiencing significant growth, driven by technological developments and the increasing adoption of IT infrastructure services, Software-as-a-Service (SaaS), and Cloud-based offerings. Businesses are seeking to improve their operations, reduce IT costs, and take advantage of scalability, automatic updates, and consumption-based pricing models. Sectors like Finance, Telecommunication, Healthcare, Manufacturing, and IoT are leading the way in IT infrastructure services, with a focus on Resource management, Talent recruiting, and Business strategies. The adoption of 5G, Blockchain, Augmented Reality, Artificial Intelligence (AI), Machine Learning (ML), and Robotic Process Automation (RPA) is also on the rise. However, there are potential problems, including data breaches, security solutions, regulatory requirements, and a lack of standardization. Firms must ensure IT service performance and address variables such as economic expansion, skill sets, and resources. The International Trade Administration is playing a role in facilitating business plans and IT service trade, while IT clusters are emerging as hubs for innovation and collaboration. The Professional services sector is also adopting managed services, system integration, consulting, and training and education to stay competitive. Remote working is becoming more common, and firms must adapt to this new reality while maintaining security and ensuring IT costs remain under control. Precise forecasting and Business Intelligence (BI) are essential for making informed decisions and identifying cost-saving opportunities. IT specialists and Operations teams must be prepared for the challenges and opportunities presented by technological advancements, including Cloud services, Data storing capacity, On-premises deployment, and the feasibility of new technologies like AI, ML, and Robotics.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeProject Oriented ServiceEnterprise Cloud Computing ServiceIT Outsourcing ServiceIT Support And Training ServiceDeploymentHosted ServiceManaged ServiceGeographyLatin America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Truemed and Highmark Benefits Administration Partner to Expand Access to Root‑Cause Healthcare and Enable Employers to Reach Benefits Goals

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AUSTIN, Texas, May 1, 2026 /PRNewswire/ — Truemed, the leading platform enabling qualified health purchases with HSA and FSA dollars, today announced a strategic partnership with Highmark Benefits Administration, a trusted provider of comprehensive, compliance‑driven solutions committed to providing A+ benefits administration services to clients nationwide.

The partnership aligns two organizations focused on delivering innovative, cost-effective solutions that help clients achieve business goals while empowering employees to use their benefits confidently and proactively. By integrating Truemed’s medically-necessary qualification process with Highmark’s service‑driven administrative infrastructure, employers can offer a broader range of eligible health interventions while maintaining clarity, compliance, and operational efficiency.

Through this collaboration, eligible Highmark participants can use pre‑tax HSA and FSA funds on evidence‑based, root‑cause health solutions— including fitness and movement programs, nutrition and supplement options, stress‑management tools, and other medically‑necessary interventions designed to help employees proactively improve their health.

“At Highmark Benefits Administration, we understand that managing employee benefits and plan compliance can be a daunting task, but it doesn’t have to be,” said Dan Bearden, Founder and Director of Highmark. “Partnering with Truemed expands what’s possible with HSA and FSA dollars while maintaining the clarity and compliance confidence our clients rely on. We’re excited to help participants access more meaningful health solutions.”

“Highmark has built a reputation for exceptional service and operational excellence,” said Justin Mares, CEO of Truemed. “This partnership builds on that foundation by giving eligible participants access to root‑cause health interventions that have been shown to improve health outcomes and chronic condition management. Together, we’re helping employers offer benefits that are simple, compliant, and truly impactful.”

Learn more at: truemed.com/a/highmark

Truemed is for qualified customers. See terms at truemed.com/disclosures.

About Truemed

Truemed partners with consumer health brands and benefits administrators to enable HSA and FSA payments for root‑cause healthcare expenses. Through licensed practitioner review and IRS‑aligned documentation, Truemed helps qualified individuals invest in medically necessary products and services using pre‑tax dollars. Learn more at truemed.com.

About Highmark Benefits Administration

Highmark Benefits Administration provides comprehensive, cost‑effective benefits administration services designed to simplify complexity and support employer goals. With expertise in enrollment and eligibility management, COBRA administration, FSA/HSA/HRA programs, compliance reporting, carrier billing, and employee communication, Highmark delivers exceptional service backed by modern technology solutions. Learn more at highmarkbenadmin.com.

Media Contact:
Tom Dahl
tom@truemed.com

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SOURCE Truemed

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DistrictWON’s uReport Partners with KOIN to Usher Back Local Sports Coverage to Every Community

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PORTLAND, Ore., May 1, 2026 /PRNewswire/ — KOIN 6 is proud to announce a groundbreaking partnership with uReport, bringing comprehensive, community-driven sports coverage to every high school across the entire metro Portland and southwestern Washington markets.

Through this initiative, KOIN is offering uReport, a human-powered, AI-assisted platform widely endorsed across high schools and colleges nationwide, fully-funded to all high schools in the region. uReport is ISTE EdTech Index Approved and listed in the ISTE Learning Technology Directory, a vetted resource used by educators to identify high-quality digital learning tools.

This partnership empowers schools, students, and communities to create and share stories, highlights, and updates across all sports, while amplifying that content across KOIN.com. uReport is already endorsed by leading organizations including the National Interscholastic Athletic Administrators Association, College Sports Communicators and other groups representing over 17,000 high schools and colleges.

“Local sports coverage has historically reached the biggest schools and the biggest games. uReport flips that. Every school in our market — from the 6A powerhouse to the 1A program with 80 kids — now has a dedicated platform on KOIN.com,” said Tom Keeler, Vice President & General Manager of KOIN.

Key benefits for each school & community include:

A dedicated content platform for every school.The ability to cover every game, every sport at every level and include unlimited pictures and videos.Every school will also be featured on KOIN.com, allowing all schools to consistently make the news!Schools also distribute content onto their own social channels, creating an amazing content library Real-world training for student journalism and responsible use of AI in storytellingA free fan-powered mobile app for real-time contributions from the communityFull customer support for the platform, all year. 

Check out a quick explainer video here: KOIN – Supercharging Your Coverage

KOIN will host three short webinars for Portland market school administrators to learn more. Any administrator is encouraged to participate (administrator, teacher, coach or other, click below to attend):
Tuesday 5/5: 9am PT
Wednesday 5/6: 8am PT
Thursday 5/7: 12pm PT
Schools can self-start and sign-up right now to cover spring events and continue to have access for the entire 2026–27 academic year. Self-start sign-up is easy here: www.ureport.com/koin

For more information, contact uReport Director of Customer Success, Dan McGrath: 216-647-3857; dmcgrath@districtwon.com

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Fuutura Outlines Architecture Built for the Cross-Border Stablecoin Corridors the IMF Now Tracks

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As the IMF’s April 2026 Global Financial Stability Report calls for enhanced regulatory oversight of cross-border stablecoin flows to emerging markets, Fuutura’s compliance-first architecture across identity, payments, and trading is built to support exactly this kind of regulatory oversight

PANAMA CITY, Panama, May 1, 2026 /PRNewswire/ — Fuutura, a blockchain infrastructure company building a compliance-first financial ecosystem for the global market, today set out its position on rising cross-border stablecoin flows to emerging markets, following the IMF’s call for enhanced regulatory oversight in its April 2026 Global Financial Stability Report.

 

 

The IMF’s findings reflect a structural shift in how money moves across emerging economies. Cross-border flows of the two largest dollar-pegged stablecoins, Tether and USD Coin, rose from approximately $12 billion in early 2020 to $316 billion by early 2025, outpacing flows of Bitcoin and Ethereum. A significant share of those flows has been directed toward emerging markets, with cumulative net inflows accelerating since late 2023. The IMF’s concern is that rapid stablecoin adoption in emerging markets, absent appropriate regulation and backstops, could lead to currency substitution, weaken the transmission of monetary policy, increase capital flow volatility, and create challenges for capital flow management measures.

The IMF report also acknowledges that stablecoins, with adequate regulation, could offer improved settlement efficiency, faster cross-border payments, increased competition in the payment space, and broader access to digital finance. The same flows that warrant enhanced oversight also reflect genuine demand for financial services that legacy infrastructure has consistently failed to deliver in emerging markets.

Fuutura is being built to make both possible at once. A compliance by design approach facilitates the very regulatory oversight the IMF is advocating. That same architecture allows the platform to serve users in markets unreached by legacy financial infrastructure. What that looks like in practice is best described by the people who have built it.

“The IMF’s findings lay bare something that anyone working in cross-border financial services across emerging markets has been seeing for years. The flows are real, the demand is structural, and the existing infrastructure has not been built to give regulators the kind of visibility they need to do their work properly. That is the gap our infrastructure is built to address, across cross-border payments, identity verification, and the trading layer that connects users to the global financial system. Compliance is not something we have layered on top of an existing platform. It is part of how the system functions at every level.”

Ellis McGrath, Co-founder and Chief Technology Officer, Fuutura

The architectural choice that defines Fuutura is the integration of compliance at a foundational level. Most digital asset platforms operate perimeter compliance, with KYC and AML conducted at onboarding and transaction monitoring sitting on top of an existing technology stack. Fuutura’s design records verified KYC and AML attestations on-chain and ties them to the user’s wallet, so that every interaction with the platform is gated by the presence of that attestation at the smart contract level. This applies across the entire ecosystem. Whether a user is opening a wallet, executing a trade on the exchange, or moving funds across borders, the same compliance design governs every interaction. The result is infrastructure where compliance is enforceable on every transaction and auditable by regulators at the on-chain level.

“The platforms that earn regulators’ trust will be the ones that make their work easier. The IMF’s call for proportionate monitoring of stablecoin flows reflects a broader truth about the relationship between innovators and regulators in this industry. Architecture that is open to inspection by default. A company posture that welcomes the questions responsible oversight requires. We believe the future of digital finance depends on builders and regulators working together, and we have designed Fuutura to support that relationship across every product on the platform.”

Oliver Cook KC, Co-founder and Chief Legal Officer, Fuutura

Fuutura is building for a market where existing financial infrastructure has consistently failed to deliver. The cross-border stablecoin corridors identified by the IMF are one part of that market. The broader scope is the millions of people and businesses across emerging economies who require digital identity, secure custody, and access to global financial markets in a single connected environment. The company’s launch marks the beginning of a phased rollout, with further ecosystem development planned as the platform scales across the markets it was designed to serve.

About Fuutura

Fuutura is a blockchain infrastructure company building a compliance-first financial ecosystem facilitating participation in the global financial system from underserved markets with a focus on the Global-South. The platform combines digital identity verification, a wallet, and a trading exchange into one unified ecosystem, giving users access to crypto and tokenised real-world assets through a single environment. Fuutura is pursuing licensing in multiple jurisdictions. Built with KYC and AML integrated at an architectural level, Fuutura is designed to be open to regulatory oversight by design. Fuutura is building infrastructure to extend digital finance to markets that legacy banking has not reached.

Media Contact
Fuutura
pr@fuutura.com

Forward-Looking Statements and Risk Disclosures

Digital asset risk. Digital assets are high-risk and their value may fall as well as rise. Trading digital assets involves significant risk and may not be suitable for all investors. Past performance is not a reliable indicator of future results.

Forward-looking statements. This press release contains forward-looking statements regarding Fuutura, its technology, products, business plans and future conduct, including statements relating to the phased rollout of the ecosystem, regulatory engagement and licensing outcomes, geographic expansion, and market ambitions. Forward-looking statements are identifiable by words such as “building,” “plans,” “intends,” “expects,” “designed to,” “anticipates” and similar expressions, as well as by statements regarding future outcomes, ambitions or strategic direction.

Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual outcomes to differ materially from those expressed. These include, without limitation, changes in the regulatory environment across jurisdictions; the availability and timing of licensing or authorisation; developments in digital asset markets; technological and cybersecurity risks; operational risks; counterparty and third-party risks; the pace of product development; and other factors beyond Fuutura’s control.

No offer or advice. Nothing in this press release constitutes an offer to sell, a solicitation to purchase, investment advice, or a recommendation in respect of any digital asset, crypto-asset, token, security, or financial product or instrument. Fuutura’s products and services may not be available in all jurisdictions and may be subject to regulatory restrictions. Access to Fuutura’s platform is restricted to residents of jurisdictions where its services are permitted.

No duty to update. Fuutura undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

This release is not for distribution in the United States, the United Kingdom, the European Union, or in any other jurisdiction where such distribution would be unlawful.

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