In recent years, Latin America made rapid strides towards transforming its digital market. There are many companies focussing on the continent's digital marketing and its mobile technology market. You only need to take a look at web portals specialized in digital marketing to see the strong presence of Latin America in the headlines. This is said to be related to increased consumption and the spread of audiences, mainly in areas of mobile technology, social networks and advertising.
The Harvard Business magazine, which is known for publishing information and research studies related to the business area, released an article called “How is Latin America's marketing evolving?” . In this report it was expected that in 2020 about one out of 10 US Dollars of the world economy would come from the Latin American market. Furthermore, they claimed the region to expect more than 640 million customers in the following years.
Currently, Latin America is the fourth-largest mobile market in the world and – referring to the social media sector- already outnumbers his US neighbour. In terms of marketing, two out of three North American companies already spend parts of their budget to purchase software for marketing automation. Opposing to this, only few Latin American companies invert in this kind of software because most of their goals mainly focus on content creation and SEO positioning in order to aquire more customers, the Harvard business review showed.
The increase in consumption and digitalization has made Latin America's market a huge business opportunity within the area of digital innovation. Despite this significant growth, Latin America’s digital economy is still in a process of development what makes it a main objective for many companies.