As part of its Power Up road show in Mexico City, TD SYNNEX (NYSE: SNX), a leading global distributor and aggregator of solutions for the IT ecosystem, presented its third annual Direction of Technology report focusing on the Latin America and Caribbean region, which reveals that as the technology landscape evolves, Companies plan to invest in a robust technology infrastructure, leverage high-growth technologies, and work closely with skilled and trusted partners.
A global report was published earlier this month that is based on a survey of more than 1,000 technology distributors, system integrators, service providers and managed service providers from more than 60 countries globally. Approximately 200 of the responses came from Latin American countries, and this new report highlights the unique findings from businesses in the region
"This year's Direction of Technology Report assesses not only the performance and prospects of current business models, but also our partners' expectations for 2024 and beyond," said Otavio Lazarini, President Latin American and Caribbean, TD SYNNEX. "By amplifying their voices, we can better align our strategies and empower them for sustained success in a rapidly changing landscape. This comprehensive analysis reflects our commitment to fostering strong relationships and adapting to dynamic market needs."
The report highlights 5 key trends in the region, which were fundamental in the IT market in 2024:
- Partners in Latin America are very optimistic about revenue growth in 2024, with nearly half forecasting double-digit growth, roughly the same as in 2023. Of all the major regions in the world, Latin American partners are the most optimistic about growth in 2024.
- Security, storage, networking, servers, and hybrid cloud are the best-selling products: security is the most important thing for revenue generation, but infrastructure is also key for many, led by the network. Unlike other geographies, AI/GenAI remains less important, according to the majority of Latino partners surveyed.
- Security will be the most common choice in the next two years, but AI/GenAI will also become important: GenAI will be the second most offered technology solution by Latin American partners in the next 24 months. Hybrid cloud, servers, and networking will also be important to many partners at this time.
- Channel models are slowly transforming, and hardware and software sales remain the most important: the average share of managed and professional services is slowly increasing, but most partners are highly dependent on the product. However, within three years, the vast majority expect the share of professional and managed services to increase.
- AI adoption in Latin America unites innovation and integration: its application in business is advancing rapidly in Latin America despite the fact that the sale of AI as a standalone product is not very significant: 56% of respondents did not report having made deals involving AI or GenAI in the last year and more than a third indicated that AI constituted less than 20% of their transactions. In the next two years, the partners anticipate a significant increase in the sale of AI-related products and solutions.
"At TD SYNNEX we have the necessary tools to support our partners to focus on the growth and optimization of their business, according to the results presented in this study," said Marcos Murata, Vice President, Vendor Management and Business Strategy of TD SYNNEX Latin America and the Caribbean. "Our Destination AI program is designed to empower our business partners to lead the right conversations with their end customers while also providing them with effective AI solutions that meet their business needs; and with TD SYNNEX Capital, we aim to provide the financial support our partners need to thrive in today's competitive marketplace."
To download the new report from Direction of Technology, please visit: http://ms.spr.ly/LACDoTENG
About TD SYNNEX
TD SYNNEX (NYSE: SNX) is a leading global distributor and aggregator of solutions for the IT ecosystem. We are an innovative partner that helps more than 150,000 customers in more than 100 countries maximize the value of technology investments, demonstrate business results, and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX's 23,000 employees are dedicated to consolidating compelling IT products, services and solutions from more than 2,500 top-tier technology providers. Our edge-to-cloud portfolio is anchored in some of the fastest-growing technology segments including cloud, cybersecurity, big data/analytics, AI, IoT, mobility, and everything-as-a-service. TD SYNNEX is committed to serving customers and communities, and we believe we can make a positive impact on our people and our planet by intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com follow our newsroom or follow us on LinkedIn, Facebook and Instagram.
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