The Latin America, Middle East and Africa Business Software And Services Market is expected to witness market growth of 13.1% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Business Software And Services Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $31.77 billion by 2031. The Argentina market is showcasing a CAGR of 14.6% during 2024-2031. Additionally, the UAE market would register a CAGR of 12.1% during 2024-2031.
The increasing demand for tailored customer experiences compels businesses to implement customer relationship management software and marketing automation solutions. Platforms like Salesforce, HubSpot, and Zoho CRM help companies manage customer interactions, track sales pipelines, and improve engagement through AI-driven insights.
The proliferation of low-code/no-code (LCNC) development platforms is revolutionizing this sector by empowering non-technical users to develop applications with limited coding proficiency. These platforms, such as Microsoft Power Apps, OutSystems, and Mendix, provide drag-and-drop interfaces and pre-built templates, making software development faster and more accessible.
The LAMEA region is experiencing a notable surge in business software and services demand. In Brazil, the healthcare sector is undergoing rapid digitalization, supported by government-led AI investment initiatives to enhance public health infrastructure. According to the Ministry of Health, Brazil's healthcare spending represented about 9.6% of the country's GDP in 2019. The Brazilian government has announced strategic plans to reduce dependency on imported AI technology, focusing on locally developed healthcare software, telemedicine solutions, and AI-powered diagnostics. As a result, hospitals and healthcare providers are increasingly adopting cloud-based medical records systems, automated patient monitoring tools, and predictive analytics for disease prevention, fostering a strong market for this in the sector. Therefore, as industries continue to modernize and embrace automation, the demand for business software solutions will continue to rise, positioning LAMEA as a key player in the global digital economy.
The Brazil market dominated the LAMEA Business Software And Services Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $31.77 billion by 2031. The Argentina market is showcasing a CAGR of 14.6% during 2024-2031. Additionally, the UAE market would register a CAGR of 12.1% during 2024-2031.
The increasing demand for tailored customer experiences compels businesses to implement customer relationship management software and marketing automation solutions. Platforms like Salesforce, HubSpot, and Zoho CRM help companies manage customer interactions, track sales pipelines, and improve engagement through AI-driven insights.
The proliferation of low-code/no-code (LCNC) development platforms is revolutionizing this sector by empowering non-technical users to develop applications with limited coding proficiency. These platforms, such as Microsoft Power Apps, OutSystems, and Mendix, provide drag-and-drop interfaces and pre-built templates, making software development faster and more accessible.
The LAMEA region is experiencing a notable surge in business software and services demand. In Brazil, the healthcare sector is undergoing rapid digitalization, supported by government-led AI investment initiatives to enhance public health infrastructure. According to the Ministry of Health, Brazil's healthcare spending represented about 9.6% of the country's GDP in 2019. The Brazilian government has announced strategic plans to reduce dependency on imported AI technology, focusing on locally developed healthcare software, telemedicine solutions, and AI-powered diagnostics. As a result, hospitals and healthcare providers are increasingly adopting cloud-based medical records systems, automated patient monitoring tools, and predictive analytics for disease prevention, fostering a strong market for this in the sector. Therefore, as industries continue to modernize and embrace automation, the demand for business software solutions will continue to rise, positioning LAMEA as a key player in the global digital economy.
List of Key Companies Profiled
- Hewlett Packard Enterprise Company
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- SAP SE
- Google LLC (Alphabet Inc.)
- Epicor Software Corporation
- ServiceNow, Inc.
- Salesforce, Inc.
- VMware, Inc. (Broadcom Inc.)
Market Report Segmentation
By Deployment
- Cloud
- On-premise
By Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
By Service
- Managed Services
- Support & Maintenance
- Consulting
By Software
- Finance
- Sales & Marketing
- Human Resource
- Supply Chain
- Other Software
By End-use
- BFSI
- IT & Telecom
- Manufacturing
- Healthcare
- Retail
- Government
- Transportation
- Aerospace & Defense
- Other End-uses
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Business Software And Services Market by Deployment
Chapter 6. LAMEA Business Software And Services Market by Enterprise Size
Chapter 7. LAMEA Business Software And Services Market by Service
Chapter 8. LAMEA Business Software And Services Market by Software
Chapter 9. LAMEA Business Software And Services Market by End-use
Chapter 10. LAMEA Business Software And Services Market by Country
Chapter 11. Company Profiles
Companies Mentioned
- Hewlett Packard Enterprise Company
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- SAP SE
- Google LLC (Alphabet Inc.)
- Epicor Software Corporation
- ServiceNow, Inc.
- Salesforce, Inc.
- VMware, Inc. (Broadcom Inc.)
Methodology
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