The Latin America, Middle East and Africa Composable Applications Market would witness market growth of 20.8% CAGR during the forecast period (2023-2029).
Composable infrastructure offers numerous advantages to businesses, including increased operational effectiveness, lower capital expenses, an adaptable framework, and automation. All of these elements are accelerating the expansion of this sector. Moreover, adding hardware individually while using composable infrastructure is unnecessary because all Information Technology (IT) necessities may be managed from a single location. For this reason, the idea of a composable application is currently flourishing.
Composable systems provide on-demand deployment using chosen templates, improved IT resource use, and quicker application innovation. During the projected period, the market is anticipated to grow due to these improvements in composable infrastructures. In addition, organizations are increasing their investment in storage resources due to the falling cost of solid-state drives and the development of new technologies like 5D memory crystals. A better customer experience is also being delivered by every industry sector in the modern day, which makes it crucial for enterprises to handle and secure data properly.
With a record $3.9 billion in sales in 2020, the UAE will dominate the Gulf Cooperation Council (GCC) in eCommerce sales, accounting for 10% of total retail sales. In 2020, the market in the UAE expanded by 53%. Online shoppers from the Middle East are increasingly embracing cross-border eCommerce. Internet users in the UAE made 58% of their purchases from international merchants because they believed in the gateway's security. The Middle East and North Africa (MENA) region has seen a sharp surge in cosmetics and personal care product sales. The MENA region has experienced some of the fastest growth in recent years regarding the online demand for cosmetics & personal care goods. This is anticipated to aid the market's regional expansion.
The Brazil market dominated the LAMEA Composable Applications Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $226 million by 2029. The Argentina market is experiencing a CAGR of 21.5% during (2023 - 2029). Additionally, The UAE market would exhibit a CAGR of 20.5% during (2023 - 2029).
Based on Offering, the market is segmented into Platform and Services. Based on Vertical, the market is segmented into BFSI, IT & ITeS, Retail & Ecommerce, Manufacturing, Healthcare & Lifesciences, Government, Energy & Utilities and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Composable Applications Market is Projected to reach USD 13.1 Billion by 2029, at a CAGR of 17.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce, Inc., Informatica, LLC, Software AG, Nutanix, Inc., Juniper Networks, Inc., Lenovo Group Limited, Western Digital Corporation, Hewlett-Packard Enterprise Company, NetApp, Inc. and Dell Technologies, Inc.
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