Latin America Software As A Service (saas) Market Size & Outlook
Latin America software as a service (saas) market, 2018-2030 (US$M)
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Latin America software as a service (saas) market highlights
- The Latin America software as a service (saas) market generated a revenue of USD 17.8 million in 2023.
- The market is expected to grow at a CAGR of 14.2% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating component in 2023.
- Software is the most lucrative component 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 17.8 million |
| Market revenue in 2030 | USD 45.1 million |
| Growth rate | 14.2% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Software |
| 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 | Intel Corp, Broadcom Inc, Trend Micro Inc, Cisco Systems Inc, Zscaler Inc, Lookout, Radware Ltd, Adobe Inc, Microsoft Corp, Alibaba Group Holding Ltd ADR, International Business Machines Corp, Salesforce Inc, Oracle Corp, SAP SE, Rackspace Technology Inc Ordinary Shares, VMware, Atlassian Corp A, ServiceNow Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.3% of the global software as a service (saas) 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 200.7 million by 2030.
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Software As A Service (SaaS) Market Scope
Software As A Service (SaaS) Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America software as a service (saas) 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 software as a service (saas) market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 83.71% in 2023. Horizon Databook has segmented the Latin America software as a service (saas) market based on software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The South America SaaS market is expected to grow in the coming years as the SaaS model has gained popularity in recent years due to its many advantages, such as reduced costs, scalability, and ease of use.
These benefits have increased demand for SaaS solutions in South America, home to a rapidly growing number of startups, small and medium-sized enterprises (SMEs), and large corporations. Further, the increasing adoption of cloud computing, the rise in mobile and internet penetration, and the need for cost-effective business solutions are driving the growth of the market in the South American region.
Moreover, countries such as Brazil, Argentina, and Colombia have become significant players in the SaaS market, with many local startups and multinationals establishing their operations in these regions. This is expected to continue as more businesses in the region adopt cloud-based solutions to stay competitive in the global market.
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Target buyers of Latin America software as a service (saas) market databook
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America software as a service (saas) market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America software as a service (saas) market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America software as a service (saas) market size, by country, 2018-2030 (US$M)
Latin America Software As A Service (SaaS) Market Outlook Share, 2023 & 2030 (US$M)
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