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.
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.
List of Key Companies Profiled
- Microsoft Corporation
- IBM Corporation
- Google LLC
- Oracle Corporation
- Hitachi Digital Services, LLC (Hitachi Ltd.)
- VMware, Inc. (Broadcom Inc.)
- ServiceNow, Inc.
- Datadog, Inc.
- Lumen Technologies, Inc.
- Flexera Software LLC
- Amazon Web Services, Inc. (Amazon.com, Inc.)
Market Report Segmentation
By Offering
- Solutions
- Native Solutions
- Third-party Solutions
- Services
- Professional Services
- Managed Services
By Service Model
- SaaS
- IaaS
- PaaS
By Deployment Model
- Hybrid Cloud
- Private Cloud
- Public Cloud
By Vertical
- IT & ITeS
- BFSI
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Manufacturing
- Media & Entertainment
- Telecommunications
- Government & Public Sector
- Others
By Organization Size
- Large Enterprises
- SMEs
By Application
- Cost Management & Optimization
- Budgeting & Forecasting
- Cost Allocation & Chargeback
- Workload Management & Optimization
- Reporting & Analytics & Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Cloud FinOps Market by Offering
Chapter 6. LAMEA Cloud FinOps Market by Service Model
Chapter 7. LAMEA Cloud FinOps Market by Deployment Model
Chapter 8. LAMEA Cloud FinOps Market by Vertical
Chapter 9. LAMEA Cloud FinOps Market by Organization Size
Chapter 10. LAMEA Cloud FinOps Market by Application
Chapter 11. LAMEA Cloud FinOps Market by Country
Chapter 12. Company Profiles
Companies Mentioned
- Microsoft Corporation
- IBM Corporation
- Google LLC
- Oracle Corporation
- Hitachi Digital Services, LLC (Hitachi Ltd.)
- VMware, Inc. (Broadcom Inc.)
- ServiceNow, Inc.
- Datadog, Inc.
- Lumen Technologies, Inc.
- Flexera Software LLC
- Amazon Web Services, Inc. (Amazon.com, Inc.)
Methodology
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