Dec 09, 2021 (AmericaNewsHour) -- Research Nester has released a report titled "LATAM Software-as-a-Service (SaaS) Market -Demand Analysis & Opportunity Outlook 2026" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.
SaaS applications help businesses attain operational efficiency and lower operational costs. These applications are delivered by a SaaS provider over the internet to a client which is present at a remote location. Increasing favorable initiatives by the government of nations in LATAM have resulted in the development of startup ecosystem. Moreover, growing competitive environment amongst businesses in the region has raised the necessity to opt for services that help them gain competitive advantage. SaaS applications allows organization to manage the business and automate back office functions and the software package usually includes all facets of an operation such as product planning and development, manufacturing, sales & marketing and others. 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 is anticipated to achieve a CAGR of around 28% during the forecast period, i.e. 2019-2026. The market is thriving on account of 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. Moreover, 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.
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The LATAM software-as-a-service (SaaS) market is segmented by type into enterprise resource planning or ERP, customer relationship management or CRM, human resource management or HRM, supply chain management or SCM and others. Among these segments, the enterprise resource planning or ERP segment is anticipated to grow significantly in the coming years and attain an absolute $ opportunity of around USD 3900 million during the forecast period. The segment, which held a market share of around 30% in the year 2018, is driven by the ability of ERP applications to provide businesses the features of product planning and development, manufacturing, sales & marketing and others in one single application, along with the ability of the application that also allows businesses to manage the business and automate back office functions.
However, concerns for the difficulties observed in integration and migration and the service quality issues faced by organizations, coupled with the rising concern for data theft, cybercrimes, and other cyber thefts are some of the factors estimated to act as a barrier to the growth of the LATAM software-as-a-service (SaaS) market.
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This report also studies existing competitive scenario of some of the key players of the LATAM software-as-a-service (SaaS) market, which includes profiling of Fujitsu Limited (tyo:6702), Oracle Corporation /zigman2/quotes/202180826/composite ORCL -0.11% , IBM /zigman2/quotes/203856914/composite IBM -0.41% , Microsoft Corporation /zigman2/quotes/207732364/composite MSFT +1.77% , Broadcom Inc. /zigman2/quotes/200646538/composite AVGO -0.14% , Alphabet, Inc. /zigman2/quotes/202490156/composite GOOGL +0.64% , Amazon.com, Inc. /zigman2/quotes/210331248/composite AMZN +0.57% , HP Development Company, L.P. /zigman2/quotes/203461582/composite HPQ -0.72% , SAP SE (etr:SAP) and Salesfore.com, Inc. /zigman2/quotes/200515854/composite CRM +1.14% .
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled " LATAM Software-as-a-Service (SaaS) Market -Demand Analysis & Opportunity Outlook 2026", analyses the overall LATAM software-as-a-service (SaaS) industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the LATAM software-as-a-service (SaaS) market in the near future.
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The post LATAM Software-as-a-Service (SaaS) Market | Development, Revenue, Demand, and Forecast to 2026 appeared first on America News Hour .
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