South America Workplace Services Market
The workplace services market in SAM is further segmented into Brazil and Argentina. Despite many economic challenges, favorable government initiatives would help the region’s economies to grow at a reasonable pace during the forecast period. The region has the highest urbanization rate globally owing to government initiatives to support industrial growth. Moreover, the governments of other emerging economies in the region are taking several initiatives to support growth of the technological sector. For instance, Argentina is concentrating on attracting FDI by taking several initiatives, such as easing import restrictions, signing international bilateral agreements, and allowing foreign investments without any restrictions. Such initiatives are expected to help in the development of businesses in South America. Also, rising significance of enterprise mobility is the major factor driving the growth of the SAM workplace services market.
The presence of various developing countries in SAM makes this region one of the key markets for the future growth of the workplace services market. The growing population, rising disposable income, high demand for advanced technologies, and huge focus on digital transformation are some of the key factors expected to drive the growth of the workplace services market in SAM. The high number of confirmed cases and deaths due to COVID-19 in major SAM countries such as Brazil, Peru, Chile, Ecuador, and Argentina have affected the region in 2020. Subsequent to the coronavirus epidemic, IT and software businesses have received a lift in several countries of SAM since digital acceleration, and the need for remote work has accelerated the market growth even in the pandemic. Thus, the workplace services market is not majorly affected during the pandemic.
Strategic insights for the South America Workplace Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3365.00 Million |
| Market Size by 2028 | US$ 7680.59 Million |
| Global CAGR (2021 - 2028) | 12.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Service Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Workplace Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The workplace services market in SAM, is expected to reach US$ 7680.59 million by 2028 from US$ 3365.00 million in 2021. The market is estimated to grow at a CAGR of 12.5% from 2021 to 2028. In developing countries, SMEs hold a dominant share of the private sector and account for ~50% of jobs in their respective countries. Besides their positive employment effects, the growth and vibrancy of these firms are also crucial for wider economic growth, diversification of economic base, and as a source of innovation that is exhibited by some of the start-ups.. Increasing number of SMEs in the region is anticipated to promote the procurement of workplace services to allow them to achieve business goals. With the implementation of digitalization and increase in incorporation of advanced solutions with social media, big data, and mobile devices, SMEs are increasingly opting for digital workplace services to optimize their business process model and surge their revenue. SMEs are making substantial investments in strategic marketing techniques to maintain their positions in highly competitive markets. They are rapidly adopting digital workplace services by leveraging other advanced technologies, such as mobile platforms and radio-frequency identification. Thus, with the swift growth of SMEs in developing countries, the demand for workplace services is anticipated to surge during the forecast period.
The SAM workplace services market is categorized into service type, organization size, vertical, and country. Based on services type, the market is segmented into end-user outsourcing services and tech support services core. In 2020, the end-user outsourcing services segment held the largest share SAM workplace market. Based on organization type, the workplace services market is divided into small and medium-sized enterprises (SMEs) and large enterprises. SMEs segment is expected to the fastest growing segment over the forecast period. On the basis of vertical, the market is segmented into media and entertainment, BFSI, consumer goods and retail, manufacturing, healthcare and life sciences, education, telecom- IT and ITES, energy and utilities, government and public sector, and others. The Telecom-IT and ITES segment accounts for largest market share in the 2020.
A few major primary and secondary sources referred to for preparing this report on the workplace services market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Accenture, Atos SE, Cognizant, Fujitsu Limited, HCL Technologies, IBM Corporation, NTT DATA Corporation, Tata Consultancy Services Limited, Unisys Corporation, and Wipro Limited among others.
The South America Workplace Services Market is valued at US$ 3365.00 Million in 2021, it is projected to reach US$ 7680.59 Million by 2028.
As per our report South America Workplace Services Market, the market size is valued at US$ 3365.00 Million in 2021, projecting it to reach US$ 7680.59 Million by 2028. This translates to a CAGR of approximately 12.5% during the forecast period.
The South America Workplace Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Workplace Services Market report:
The South America Workplace Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Workplace Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Workplace Services Market value chain can benefit from the information contained in a comprehensive market report.
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