Research Nester has released a report titled “LATAM Software-as-a-Service (SaaS) Market –Demand Analysis & Opportunity Outlook 2026” which delivers detailed overview of the LATAM software-as-a-service (SaaS) market in terms of market segmentation by type and by application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The LATAM software-as-a-service (SaaS) market is segmented by type into enterprise resource planning or ERP, customer relationship management or CRM, human resource management or HRM, supply chain management or SCM and others, out of which, the enterprise resource planning or ERP segment, which held a market share of around 30% in the year 2018 is anticipated to showcase great potential in the future and further attain an absolute $ opportunity of around USD 3900 million during the forecast period owing to the ability of ERP applications to allow organization to manage the business and automate back office functions, along with providing business the features of product planning and development, manufacturing, sales & marketing and others in one single application.
The LATAM software-as-a-service (SaaS) market is anticipated to achieve a CAGR of around 28% during the forecast period, i.e. 2019-2026. Growing demand for SaaS solutions from end user companies, introduction of mobile SaaS services, coupled with other emerging technologies including artificial intelligence, machine learning and others in the IT industry are some of the factors anticipated to contribute significantly towards the growth of the LATAM software-as-a-service (SaaS) market. Moreover, increasing competitive environment of businesses along with the need to lower operational costs, there is an increasing need from IT organizations for consultative support as well as for applications that have special and specific business requirements. Additionally, backed by the increasing IT infrastructure and lowering costs of SaaS solutions, such factors are anticipated to contribute significantly towards the growth of the LATAM software-as-a-service (SaaS) market.
Favorable Government Policies to Help Expand the Market of LATAM SaaS
The governments across nations in the region of LATAM are increasingly coming up with favorable initiatives that is helping to create a startup ecosystem in the region as well as to develop the IT infrastructure. As a result, numerous business organizations from around the world are increasingly placing their businesses in the region to benefit from the low operational costs and greater work ambition amongst the people, which is raising the need amongst the organizations to deploy SaaS applications. SaaS applications allows organization to manage the business and automate back office functions and the software package usually includes all facets of an operation such as product planning and development, manufacturing, sales & marketing and others. The increasing adoption rate of SaaS applications amongst the business organizations on the back of favorable government policies is thereby anticipated to drive the growth of the LATAM software-as-a-service (SaaS) market.
However, concerns regarding the service quality issues faced by organizations owing to the difficulties observed in integration and migration as well as the rising concern for data theft, cybercrimes, and other cyber thefts are some of the factors anticipated to limit the growth of the LATAM software-as-a-service (SaaS) market.
This report also provides the existing competitive scenario of some of the key players of the LATAM software-as-a-service (SaaS) market, which includes company profiling of Fujitsu Limited (TYO: 6702), Oracle Corporation (NYSE: ORCL), IBM (NYSE: IBM), Microsoft Corporation (NASDAQ: MSFT), Broadcom Inc. (NASDAQ: AVGO), Alphabet, Inc. (NASDAQ: GOOGL), Amazon.com, Inc. (NASDAQ: AMZN), HP Development Company, L.P. (NYSE: HPQ), SAP SE (ETR: SAP) and Salesfore.com, Inc. (NYSE: CRM). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the LATAM software-as-a-service (SaaS) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.