TECH SUPPLIER Sep 2019 - Market Perspective - Doc # LA45359919
Latin America Blockchain Strategies, 2019
By: Victor Almandoz
This IDC Blockchain Market Perspective for Latin America study describes how IDC evaluates the worldwide blockchain market opportunity in comparison with that of the Latin America region, including new market developments and dynamics involving the region and as well as our definitions, taxonomies and methodologies. We identify the main IT players and organizations influencing industries and promoting very interesting use cases across countries on an industry by industry approach providing market expenditures and forecasts.
We provide Latin America use case analyzing trends and future potential implementations, setting and documenting IDC opinion within the context of the broader ecosystem, in which we provide assumptions to blockchain forecasts based on market forces: economy, vertical industries, and new 3rd Platform technologies, such as cloud, internet of things (IoT), artificial intelligence (AI), Mobile, robotics, big data and analytics, and so forth. This way, the market would know which direction the technology is moving and how it is supposed to succeed. Finally, we provide advice to technology suppliers and service providers entering the market so that they know where to invest and learn what to expect in terms of economies and time frames.
"Blockchain technology is opening the road to different paradigms when creating new business solutions and forcing executives within suppliers and end users to rethink how business in the new era is supposed to be created, implemented and delivered," says Victor Almandoz, consulting manager, IDC's Consulting Latin America.
However, hard work and planning, proper budget, and expectations much be in place. Standalone projects will have a hard time to succeed, whereas a collaboration between different technologies and industries will set the path for new avenues where visibility and profitability are the main theme. Following this advice organizations will avoid total disillusionment.
Worldwide organizations, governments, regulators, and technologists will see the market shifting away from traditional developments to creative and out-of-the-box projects across all sectors. At the end of the day, end users will look to blockchain technology vendors and service providers for guidance.
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