South & Central America Artwork Management Software Market Forecast to 2030 - Regional Analysis - by Deployment (Cloud and On-Premise) and Application (Life Sciences, Retail, Manufacturing, and Others)

The South & Central America artwork management software market was valued at US$ 24.36 million in 2022 and is expected to reach US$ 38.77 million by 2030; it is estimated to grow at a CAGR of 6.0% from 2022 to 2030.

Growing Integration of Artwork Management Software with PLM Drives South & Central America Artwork Management Software Market

With the growing e-commerce industry and increasing demand for more advanced products globally, the retail trade and product renewals and launches are witnessing significant growth. Hence, there is a rise in pressure on the companies for efficient packing and artwork management. Packaging artwork management holds major relevance in marketing a product; hence, delays in delivery of the approved package artwork immensely impact the product's time to market. As a result, various companies are integrating automated artwork management into product lifecycle management (PLM). This integration can help companies reduce approval times by ~20-50%. In the online approval process, approvers are required to log in, and then they will either approve the file or comment on it. In addition, the file will be sent to the next person in the process for further review. This creates faster cycle times, thus improving the speed to market for the product. According to BLUE-an Esko Company, the integration of a label and artwork management (LAM) system into PLM can help accomplish the final result six times faster and at a lower price. Also, the integration of the artwork management system with PLM will further help the companies in managing the workflow and proofing across the internal teams and outside agencies. Thus, the growing integration of artwork management software with PLM is expected to fuel the market growth during the forecast period.

South & Central America Artwork Management Software Market Overview

The South & Central America artwork management software market is segmented into Brazil, Argentina, and the Rest of South & Central America. A mixed growth scenario characterizes the region, with many countries experiencing complex political and macroeconomic environments. Several countries in the region lack the infrastructure and resources required for utilizing technologically advanced automation solutions in various industries. Favorable measures by governments, amid many obstacles, are facilitating developments in various industries at a sustainable pace. Hence, the expansion of industries, especially food & beverages, consumer goods, and pharmaceutical industries, in South & Central America is increasing the adoption of artwork management software among manufacturers. The software helps manufacturers by linking processes and individuals of all customers, internal departments, agencies, suppliers, and vendors. This supports the manufacturers in obtaining products quickly while ensuring regulatory compliance.

In South & Central America, countries are attracting huge FDIs, especially in the manufacturing sector, owing to cheap labor availability and low entry barriers and interest rates. The United Nations Conference on Trade and Development (UNCTAD) published a report on July 5, 2023, which states that foreign direct investment in South America grew by over 73% from 2021 to 2022. The region received FDI of US$ 93 billion in 2021 and US$ 160 billion in 2022. This helps the manufacturing unit to develop new products and expand its business by increasing its consumer base. The expansion of manufacturing and packaging facilities increases the demand for artwork management software and its adoption among consumers, which is projected to fuel the market in the coming years. Also, as per the above source, in 2022, Brazil observed an increase of 70% in FDI, which amounted to US$ 86 billion in the manufacturing sector. This increased investment in the manufacturing sector is expected to boost the demand for artwork management software, further fueling the market growth in the region.

Further, Brazil hosts a huge food and beverages industry, thus providing considerable growth opportunities for the South & Central America artwork management software market players. According to the Inter-American Development Bank, the food & beverages industry contributes to more than 25% of Brazil's GDP. Several international brands have their production units located in Brazil owing to the availability of huge amounts of unique and economic agricultural products. Further, the food & beverages companies in this country are capitalizing on upgrading their facilities to scale up production and enhance production quality. Thus, the proliferation of various manufacturing industries and their continuous initiatives to innovate packaging and labeling processes are a few factors supporting the artwork management solution market growth in South & Central America.

South & Central America Artwork Management Software Market Segmentation

The South & Central America artwork management software market is segmented based on deployment, application, and country.

Based on deployment, the South & Central America artwork management software market is bifurcated into cloud and on-premise. The cloud segment held a larger share in 2022.

By application, the South & Central America artwork management software market is segmented into life sciences, retail, manufacturing, and others. The life sciences segment held the largest share in 2022.

Based on country, the South & Central America artwork management software market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America artwork management software market in 2022.

Esko-Graphics BV, Freyr LLC, Karomi Inc, and Dassault Systèmes SE are some of the leading companies operating in the South & Central America artwork management software market.