Technology Research Reports Latin America ERP Software Market
Latin America ERP Software Market Analysis, Size, Growth,
Share & Forecast to 2025 | Grand View Research Inc.
“Latin America ERP Software Market Size Worth $2.73 Billion By 2025”
The Latin America ERP software market is expected to reach USD 2.73 billion by 2025, according to a new
report conducted by Grand View Research, Inc. ERP applications have helped many large-scale organizations
to bring clarity and visibility in their business. With rapidly growing small and medium enterprises (SMEs) and
adoption of evolving technology demand in SMEs is expected to grow over the forecast period. Furthermore,
rising awareness among small & medium enterprises (SMEs) and increasing need for business process
efficiency and transparency aid the market growth over the forecast period.
SMEs have been facing various barriers to the adoption of this technology because of expensive and less
user-friendly nature of the software. Many SMEs in Brazil, Mexico, Chile, and Peru are still using old IT
systems to operate their business. There is a growing need for adoption of upcoming IT systems to sustain in
the competitive market. enterprise resource planning software helps the operation of core business processes
including sales & distribution, supply chain management, accounting, financial control, and HR, which is
expected to propel demand from various SMEs.
The cloud deployment segment is expected to witness a significant growth rate, due to its growing adoption,
although the on-premise deployment segment is anticipated to dominate the market (in terms of size) by 2025.
Cloud-based applications reduce IT infrastructure cost leading to the adoption of cloud-based application
among enterprises. The investment on cloud-connected mobile applications has increased as mobile owing to
the growing penetration of Bring Your Own Device (BYOD) among the organizations.The vendors are
developing cloud-based solutions that can be accessible via mobile platforms such as tablets and smartphones
expected to influence the market growth further.