PUBLISHER: Market Research Future | PRODUCT CODE: 1522700
PUBLISHER: Market Research Future | PRODUCT CODE: 1522700
Latin America Software as a Service (SaaS) Market Research Report By Deployment Model (Public Cloud, Private Cloud and Hybrid Cloud), by Software (Relationship Management (CRM) Software, Enterprise Resource Planning (ERP) Software, Accounting Software, Project Management Software, Data Analytics Software, Financial Software, Cybersecurity Software, Marketing Software and Others), Pricing (Subscription and Pay-Per-Use (PPU), By SaaS type, (Horizontal SaaS, Vertical SaaS and Consulting), By End-Use (BFSI, Healthcare, Retail, Manufacturing, Media & Entertainment, Transportation, IT & Telecom and Others), By Countries (Brazil, Argentina, Mexico, Chile, Colombia, Peru and Rest of Latin America) - Industry Forecast to 2032
Software as a service (SaaS) is a cloud-based model that allows clients to receive software as a subscription rather than purchasing it. SaaS is sometimes known as web-based, on-demand, or web-hosted software. A provider runs SaaS apps on their own or a third-party cloud provider's server, and they are accountable for the application's security, availability, and performance.
SaaS is also used in the retail business to better understand customer behavior, product marketing, supply chain benefits, inventory management, and industry growth. The region's e-commerce business is also projected to benefit from increased mobile internet usage. The Latin American market presently has over 300 million digital buyers, and this figure is expected to grow by more than 20% by 2027. The number of Latin American shoppers utilizing PayU to make e-commerce payments has more than doubled, from 15.3 million in 2019 to 29.3 million by 2022. SaaS firms regularly update and improve their software, ensuring that consumers have access to the most recent features and functionalities without the need for manual updates. Furthermore, SaaS solutions frequently interact effortlessly with other software and platforms, allowing organizations to streamline their workforce and increase productivity.
The Latin America Software as a Service (SaaS) market was valued at USD 20,642.6 million in 2023 and is expected to reach USD 129,636.3 million in 2032 at a CAGR of 23.0% from 2024 to 2032.
Marketing Segmentation
This market research study is divided into several categories, including technique, type, frame type, frame material, application, manufacturing model, and region/country. The Latin American Software as a Service (SaaS) market has been divided into three segments based on deployment model: public cloud, private cloud, and hybrid cloud. The market is divided into software categories such as Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), accounting, project management, data analytics, financial, cybersecurity, marketing, and others. The Latin American Software as a Service (SaaS) market is divided into two segments based on organization size: SMEs and major organizations. The market has been divided into two segments based on pricing: subscription and pay-per-use. The Latin America Software as a Service (SaaS) market is divided into three segments: horizontal SaaS, vertical SaaS, and consultancy. The Latin American Software as a Service (SaaS) market is divided into end-use sectors such as BFSI, healthcare, retail, manufacturing, media & entertainment, transportation, IT & Telecom, and others. The Software as a Service (SaaS) market is divided into the following countries: Brazil, Argentina, Mexico, Chile, Colombia, Peru, and the rest of Latin America.
The top participants in the industry are Microsoft, Oracle, Adobe, Salesforce, SAP, Google, and others.