South America Workplace Services Market is expected to reach US$ 7680.59 million by 2028

PRESS RELEASE BY The Insight Partners 02 Jun 2021

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Consumer Goods and Retail Segment is expected to be the fastest growing during the forecast period for the SAM region.

  According to The Insight Partners market research study on “SAM Workplace Services Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Service Type, Organization Size, and Vertical,” 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. The report provides trends prevailing in the SAM workplace services market along with the drivers and restraints pertaining to the market growth. Rising significance of enterprise mobility is the major factor driving the growth of the SAM workplace services market. However, issues associated with the escalating security concerns hinder the growth of SAM workplace services market.

The market for SAM workplace services market is segmented 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. Large enterprises 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, Others. The Telecom-IT and ITES segment accounts for largest market share in the 2020 

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.

Accenture, Atos SE, Cognizant, Inc., Fujitsu Limited, HCL Technologies, IBM Corporation, NTT DATA Corporation, Tata Consultancy Services Limited, Unisys Corporation, and Wipro Limited are among some of the leading companies in the SAM workplace services market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020 Fujitsu announced it has signed a two-year agreement with HMRC, under the agreement Fujitsu will provide its Digital Workplace Services to HMRC.  

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