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June 2021

IT Services – LATAM

Digital transformation accelerated during the COVID-19 pandemic as a necessity for the continuation of business operation and value creation. According to the latest forecast by Gartner, worldwide IT spending is projected to total $4.1T in 2021, an increase of 8.4% from 2020. Additionally, the IT Outsourcing market is expected to reach $486.16B by 2024, with a CAGR of 5%. Given the market demand, 7MA has actively advised various near-shore LATAM clients that support digital transformation and modernization. These clients have risen to the digital challenge by creating and implementing tailored solutions via onsite and near-shore agile development teams. The following is an overview of the LATAM IT Services Market and highlights ongoing trends.

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