The Latin America, Middle East and Africa Cloud FinOps Market would witness market growth of 13.7% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Cloud FinOps Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $575 million by 2031. The Argentina market is showcasing a CAGR of 14.9% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 13.3% during (2024 - 2031).
FinOps helps break down the silos between IT and finance by providing tools that facilitate data sharing and real-time visibility into cloud expenditures. These tools enable both teams to access the same financial data, monitor usage trends, and analyze cost drivers. By working from a common data set, IT and finance can engage in more productive conversations about optimizing cloud usage, reducing unnecessary spending, and improving overall financial performance. This transparency also promotes accountability, as both teams share responsibility for ensuring that cloud resources are used efficiently, and that cloud spending remains within budget.
The rapid expansion of cloud infrastructure is a major driving force behind the growing demand for FinOps solutions. In the fourth quarter of 2023 (4Q23), the International Data Corporation (IDC) Quarterly Enterprise Infrastructure Tracker: Buyer and Cloud Deployment reported that the expenditure on compute and storage infrastructure offerings for cloud deployments, including shared and dedicated IT environments, increased by 18.5% year over year to $31.8 billion. As businesses accelerate their cloud adoption, the need for robust financial management tools to monitor, optimize, and control cloud expenditures has become increasingly important.
The United Arab Emirates government has made substantial investments in healthcare infrastructure and digital health initiatives, such as the implementation of cloud technologies for electronic health records (EHRs), telemedicine, and advanced data analytics. The healthcare sector in the Middle East and North Africa is expected to expand from $144 billion in 2020 to $243 billion in 2023, as indicated by the UAE Ministry of Economy's report, "Investing in Healthcare in UAE." Dubai's healthcare sector is expected to be a significant contributor to this growth. FinOps solutions are helping the UAE’s healthcare sector maintain financial sustainability while improving patient care through advanced cloud technologies. Hence, the regional market is expected to grow throughout the forecast period owing to the expansion of these sectors.
Free Valuable Insights: The Worldwide Cloud FinOps Market is Projected to reach USD 27 billion by 2031, at a CAGR of 11.1%
Based on Offering, the market is segmented into Solutions (Native Solutions and Third-party Solutions) and Services (Professional Services and Managed Services). Based on Service Model, the market is segmented into SaaS, IaaS, and PaaS. Based on Deployment Model, the market is segmented into Hybrid Cloud, Private Cloud, and Public Cloud. Based on Vertical, the market is segmented into IT & ITeS, BFSI, Retail & Consumer Goods, Healthcare & Life Sciences, Manufacturing, Media & Entertainment, Telecommunications, Government & Public Sector, and Others. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Application, the market is segmented into Cost Management & Optimization, Budgeting & Forecasting, Cost Allocation & Chargeback, Workload Management & Optimization, and Reporting & Analytics & Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Offering
By Service Model
By Deployment Model
By Vertical
By Organization Size
By Application
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 