The Q3 2022 Digital Services sector update by GP Bullhound highlights the rapid adoption of technology in the region, leading to increased demand for digital-first services. The report notes that large incumbents are recognizing the need to have a stronger presence in Latin America to win large global clients. The report also highlights the significant deals within the space, including WPP's acquisition of Jettrey Group and Accenture's acquisition of Tenbu. The report further notes that the UX design software market is likely to reach $2Bn by 2028, with a CAGR of 16%. The report concludes that M&A activity is on the rise, with multiple high-profile deals signed in Q3 2022, including the acquisition of London-based design and UX agency Rufus Leonard by Copgernini.
