IT & Telecom

LATAM Software-as-a-Service (SaaS) Market Segmentation By Type (ERP, CRM, HRM, SCM and Others) and By Application (BFSI, IT & Telecommunication, Manufacturing, Retail, Healthcare and Others) - Industry Demand Analysis and Opportunity Assessment 2018-2026

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.

In The News

  • October 2019: Fujitsu Laboratories, Ltd. announced the development of a new “Content-Aware Computing” technology which aims to control accuracy while increasing computing speeds.

  • December 2017: Oracle have announced that it entered into an agreement with Aconex Limited to buy its shares for a transaction value worth around USD 1.2 billion net of Aconex cash.

LATAM Software-as-a-Service (SaaS) MarketOverview

Emerging technologies, such as artificial intelligence, machine learning and others in the IT industry, coupled with growing demand for SaaS solutions from end user companies and introduction of mobile SaaS services are some of the factors believed to benefit the expansion of the LATAM software-as-a-Service (SaaS) market. SaaS providers help to deliver software applications over the internet to a client which is present at a remote location. These software applications can be dedicated or a common application for the client and can be accessed by a web browser or applications with in-built internet connectivity feature. SaaS providers maintain the application on their server and are responsible for the performance, security and maintenance of the application for greater client experiences. SaaS providers can also customize the application based on the requirement of its client. Additionally, in the recent era, where businesses need to stay ahead in competition, there is an increasing demand from IT organizations for consultative support as well as for applications that have special and specific business requirements, raising the need for the deployment of SaaS solutions. Moreover, lowering costs of SaaS solutions, coupled with rising internet infrastructure in the region are some of the factors anticipated to contribute significantly towards the growth of the LATAM software-as-a-service (SaaS) market. The LATAM software-as-a-service (SaaS) market is slated to grow at a highest CAGR of around 28% over the forecast period 2019-2026.

Market Segmentation Synopsis

By Type

The LATAM software-as-a-service (SaaS) market is segmented on the basis of type into enterprise resource planning or ERP, customer relationship management or CRM, human resource management or HRM, supply chain management or SCM and others. The enterprise resource planning or ERP segment is anticipated to showcase great potential in the future. The segment occupied a market share of around 30% in the year 2018 and is further anticipated to attain an absolute $ opportunity of around USD 3900 million during the forecast period. SaaS ERP or SaaS enterprise resource planning is a cloud business process management software which allows organization to manage the business and automate back office functions. The software package usually includes all facets of an operation such as product planning and development, manufacturing, sales & marketing and others, all clubbed in a single database application backed by a user interface. ERP helps optimize business processes by providing accurate and timely access to reliable information. Further, the online software also helps to eliminate unnecessary operations and data, helping to reduce time and cost of operations. CLICK TO DOWNLOAD SAMPLE REPORT

LATAM Software-as-a-Service (SaaS) Market

Market Drivers and Challenges

Growth Indicators

The LATAM software-as-a-service (SaaS) market is thriving on the back of increasing adoption of cloud services observed in the region, especially by small and medium enterprises (SMEs), emerging markets in the region, along with favorable government policies that is helping several organizations to place their business in the region. Increasing local initiatives concentrating in the field is helping businesses from around the world to place their businesses in the region owing to low operational costs and greater work ambition amongst the people. Backed by the developing IT infrastructure in the region numerous startup ventures have boomed in the recent years and unlike developed nations, people here are able to work at a lower cost. Owing to such a factor, the startup ecosystem in the region is thriving significantly which is generating the need for SaaS platforms for utilization by these organizations. Additionally, greater adoption rate for SaaS applications is also contributing towards the rising demand of SaaS providers. Such factors are anticipated to drive the growth of the LATAM software-as-a-service (SaaS) market.


Concern for data theft, cybercrimes, and other cyber thefts, coupled with the difficulties observed in integration and migration between the SaaS providers due to service quality issues are some of the factors anticipated to impact negatively towards the growth of the LATAM software-as-a-service (SaaS) market.

LATAM Software-as-a-Service (SaaS) Market
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Key Questions Answered in the Report

1) What are the major factors driving the growth of the LATAM Software-as-a-Service market?

Ans: Growing need of businesses to adopt SaaS applications owing to the favorable government policies is one of the factors that is driving the growth of the market.

2) What would be the CAGR of LATAM Software-as-a-Service market over the forecast period?

Ans: The market is anticipated to attain a CAGR of around 28% over the forecast period, i.e. 2019-2026.

5) Who are the major players dominating the LATAM Software-as-a-Service market?

Ans: The major players in the LATAM software-as-a-service (SaaS) market are Fujitsu Limited, Oracle Corporation, IBM, Microsoft Corporation, Broadcom Inc., Alphabet, Inc.,, Inc., HP Development Company, L.P., SAP SE and, Inc.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the major segments in the LATAM software-as-a-service (SaaS) market?

Ans: The market is majorly segmented by type and by application.

8) What can be the significant growth opportunity for the type segment in the LATAM software-as-a-service (SaaS) market?

Ans: The enterprise resource planning or ERP segment, which is a sub-segment of the type segment, is anticipated to grow significantly and attain an absolute $ opportunity of around USD 3900 million over the forecast period.

8) What are the restraining factors for the market?

Ans: Growing concerns for the difficulties observed in integration and migration and the service quality issues faced by organizations is one of the major factors anticipated to act as a barrier towards the growth of the market.

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