Latin America Business Software And Services Market Size & Outlook
Latin America business software and services market, 2018-2030 (US$M)
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Latin America business software and services market highlights
- The Latin America business software and services market generated a revenue of USD 52.3 million in 2023.
- The market is expected to grow at a CAGR of 12.4% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating solution in 2023.
- Services is the most lucrative solution segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 52.3 million |
| Market revenue in 2030 | USD 118.7 million |
| Growth rate | 12.4% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Software, Services |
| Key market players worldwide | EQT AB Ordinary Shares, Roper Technologies Inc, Epicor Software (Formerly Solarsoft Business Systems), International Business Machines Corp, Infor, Oracle Corp, Microsoft Corp, SAP SE ADR, Totvs SA ADR, SYSPRO |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.9% of the global business software and services market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 260.1 million by 2030.
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Business Software And Services Market Scope
Business Software And Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America business software and services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to business software and services market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 70.55% in 2023. Horizon Databook has segmented the Latin America business software and services market based on software, services covering the revenue growth of each sub-segment from 2018 to 2030.
In Latin America, organizations in countries such as Mexico, Brazil, and Argentina are investing significantly in business process automation and remaining keen on incorporating various technologies, including Internet of Things (IoT), business analytics, and big data, into their product and solution offerings, which bodes well for the growth of the business software and services market in the region.
Unabated digitization, as customers continue to realize the potential of digitization in improving business outcomes, is also expected to drive the demand for business software and services in the region over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America business software and services market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America business software and services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America business software and services market size, by country, 2018-2030 (US$M)
Latin America Business Software And Services Market Outlook Share, 2023 & 2030 (US$M)
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