Product Code: RP-ID-10307081 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: ICT & Telecom |
Report ID: 10307081
Market Overview:
Latin America SaaS Market Outlook 2026
LATAM Software-as-a-Service (SaaS) Market Analysis – 2018-2026
Software-as-a-Service (SaaS) is a type of cloud computing in which a third-party provider manages applications so that consumers can access them over the internet. The service eliminates the need for organizations to install and run applications on their data centers or computers, eliminating the cost of acquisition of hardware, provisioning and its maintenance, as well as software licensing, installation and support. 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. Factors such as rising 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, as well as several other factors such as low cost of SaaS solutions and the growing IT 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. Additionally, the growing need of businesses to adopt SaaS applications owing to the favorable government policies is thereby anticipated to drive the growth of the LATAM software-as-a-service (SaaS) market.
The LATAM software-as-a-service (SaaS) market consists of various segments that are segmented by type and by application. The application segment is further sub-divided into BFSI, IT & telecommunication, manufacturing, retail, healthcare and others. The retail segment is held the largest market share of around 18% in the year 2018 and further attain an absolute $ opportunity of around USD 2100 million during the assessment period.
Some of the affluent industry leaders in the LATAM software-as-a-service (SaaS) market are Fujitsu Limited, Oracle Corporation, IBM, Microsoft Corporation, Broadcom Inc., Alphabet, Inc., Amazon.com, Inc., HP Development Company, L.P., SAP SE and Salesfore.com, Inc.
Fujitsu Limited, Oracle Corporation, IBM, Microsoft Corporation, Broadcom Inc., Alphabet, Inc., Amazon.com, Inc., HP Development Company, L.P., SAP SE and Salesfore.com, Inc
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