The Latin America Cloud ERP industry is estimated to be worth US$ 2,580.6 million in 2024. The regional industry is likely to surpass US$ 6,071.3 million by 2034, growing at a rate of 9% during the forecast period. The demand for Cloud ERP software is expanding due to the region's adoption of digital technologies and the need for efficient business processes.
Other key factors contributing to the rise in cloud ERP adoption in Latin America include real-time data analytics, improved decision-making capabilities, and business resilience. Cloud-based ERP solutions offer scalability, flexibility, and cost-effectiveness, making them attractive for organizations seeking to streamline operations.
Ongoing Trends in the Latin America Cloud ERP Industry:
| Key Attributes | Details |
|---|---|
| Industry Size in 2023 | US$ 2,385 million |
| Estimated Industry Size in 2024 | US$ 2,581 million |
| Forecast Industry Value by 2034 | US$ 6,071.3 million |
| Value CAGR from 2024 to 2034 | 9% |
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The Latin America Cloud ERP industry experienced a CAGR of 7%, reaching a value of US$ 2,580.6 million in 2024, from 2019 to 2023. During this period, the demand for Cloud ERP solutions grew significantly due to a surge in digital transformation.
The Latin America Cloud ERP industry is expected to experience significant growth from 2024 to 2034 due to digital transformation initiatives across low-income group countries like Paraguay, Uruguay, Venezuela, and others. Businesses sought scalable, cost-effective, and agile solutions for real-time data access, streamlined processes, and advanced technologies.
The cloud ERP solution providers in the region emphasized industry-specific customization, mobile accessibility, and data security to meet regional requirements. Cloud ERP became essential for navigating the challenges and opportunities of the Latin American business environment.
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Cloud ERP in Latin America is predicted to be positively influenced by the peer markets in user-friendly technology. These markets are the Cloud ERP industry and the enterprise resource planning (ERP) software industry.
Cloud ERP in Latin America:
| Attributes | Cloud ERP in Latin America |
|---|---|
| CAGR (2024 to 2034) | 9% |
| Growth Factor | Demand for big data solution implementation to detect inefficiencies |
| Key Trend | Personalized customer interactions using artificial intelligence |
Global Cloud ERP Industry:
| Attributes | Global Cloud ERP Industry |
|---|---|
| CAGR (2024 to 2034) | 16.2% |
| Growth Factor | Real-time analytics to enhance productivity and customer service |
| Key Trend | A notable trend is the increasing consolidation through strategic mergers and acquisitions with data security firms |
Global Enterprise Resource Planning (ERP) Software Industry:
| Attributes | Global Enterprise Resource Planning (ERP) Software Industry |
|---|---|
| CAGR (2024 to 2034) | 55% |
| Growth Factor | Evolving SaaS technology in manufacturing, banking, and IT industry |
| Key Trend | Demand for smart and automated processes that can reduce tedious manual work is the current trend in the industry |
Industry Growth Outlook by Key Countries
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| Mexico | 10.7% |
| Brazil | 9.2% |
| Chile | 7.5% |
The Cloud ERP industry in Mexico is expected to acquire a share of 45.3% by 2034, expanding at a CAGR of 10.7%. The demand for Cloud ERP in Mexico is expected to experience significant growth through the projected years due to
The sales of Cloud ERP software in Brazil are expected to acquire a 27.6% share, expanding at a CAGR of 9.2% during the forecast period. Some noticeable trends that are likely to impact the industry in Brazil include:
The Cloud ERP industry in Chile is anticipated to acquire a 5.8% share at a CAGR of 7.5% during the forecast period. Some of the prominent factors that are expected to strengthen the cloud ERP industry trends in Chile include:
Based on access type, the system-based ERP is expected to dominate the Cloud ERP industry in Latin America, with a share of 77.2% in 2024.
Growth Outlook by Access Type
| Access Type | Value Share (2024) |
|---|---|
| System-based ERP | 77.2% |
| Mobile ERP | 22.8% |
The mobile ERP segment is expected to dominate the Cloud ERP industry in the region with a CAGR of 12.3% from 2024 to 2034. The industry is driven by the following factors:
The demand for Cloud ERP solutions is accelerating in Latin America due to its easy accessibility on mobile and desktop for financial data, supply chains, and management tools. To stay ahead of the competition in such a circumstance, both established and emerging players must adopt advanced techniques for business intelligence.
Established companies providing Cloud ERP systems for businesses in Latin America are focusing on product innovation, continuous research, and investing in emerging technologies like artificial intelligence and machine learning. They aim to enhance features, customize capabilities, and user experience while staying updated with evolving industry requirements to meet diverse business needs in the region.
Cloud-based ERP service providers in the region are forming strategic partnerships with technology providers, industry specialists, and regional players to scale up their business. Cloud ERP vendors primarily focus on ERP solutions and cater to diverse customer needs, fostering growth and sustainability.
Cloud-based enterprise resource planning in Brazil and Mexico is expanding into other countries by tailoring solutions to local needs. They are also forming strategic partnerships and leveraging a strong network of channel partners to capitalize on the growing demand for next-gen cloud ERP products.
Key players in Latin America frequently use mergers and acquisitions to consolidate their positions, extend their product range, and gain access to new clients.
Key Developments in the Latin America Cloud ERP Industry
The Latin America cloud ERP industry is expected to hit US$ 2,580.6 million worth in 2024.
The cloud ERP demand is set to increase with a 9% CAGR during the assessment period.
The system-based ERP accounts for 77.2% of the share in Latin America.
The cloud ERP industry is predicted to exceed US$ 6,071.3 million by 2034 in Latin America.
The demand for cloud ERP solutions in Mexico to grow at 10.7% through 2034.
1. Executive Summary 1.1. Latin America Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Type of Pricing Analysis 3.1. Subscription-based Pricing 3.2. Perpetual License (One-time Fee) 3.3. ERP Module-based Pricing 4. Market Background 4.1. Macro-Economic Factors 4.2. Forecast Factors - Relevance & Impact 4.3. Value Chain 4.4. COVID-19 Crisis - Impact Assessment 4.4.1. Current Statistics 4.4.2. Short-Mid-Long Term Outlook 4.4.3. Likely Rebound 4.5. Market Dynamics 4.5.1. Drivers 4.5.2. Restraints 4.5.3. Opportunity Analysis 5. Market Demand (in Value or Size in US$ Million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 5.1. Historical Market Value (US$ Million) Analysis, 2019 to 2023 5.2. Current and Future Market Value (US$ Million) Projections, 2024 to 2034 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Access Type 6.1. Introduction / Key Findings 6.2. Historical Market Size (US$ Million) Analysis By Access Type, 2019 to 2023 6.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Access Type, 2024 to 2034 6.3.1. System-based ERP 6.3.2. Mobile ERP 6.4. Market Attractiveness Analysis By Access Type 7. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Deployment 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ Million) Analysis By Deployment, 2019 to 2023 7.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Deployment, 2024 to 2034 7.3.1. Public Cloud 7.3.2. Private Cloud 7.3.3. Hybrid Cloud 7.4. Market Attractiveness Analysis By Deployment 8. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By ERP Module 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Million) Analysis By ERP Module, 2019 to 2023 8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By ERP Module, 2024 to 2034 8.3.1. Finance & Accounting 8.3.2. Human Capital Management 8.3.3. Supply Chain Management 8.3.4. Customer Relationship Management 8.3.5. Sales & Marketing 8.3.6. Procurement 8.3.7. Manufacturing 8.3.8. Inventory Management 8.3.9. Others 8.4. Market Attractiveness Analysis By ERP Module 9. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Enterprise Size 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Million) Analysis By Enterprise Size, 2019 to 2023 9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Enterprise Size, 2024 to 2034 9.3.1. Small Offices (1-9 employees) 9.3.2. Small Enterprises (10-99 employees) 9.3.3. Medium-sized Enterprise (100-499 employees) 9.3.4. Large Enterprises (500-999 employees) 9.3.5. Very Large Enterprises (1,000+ employees) 9.4. Market Attractiveness Analysis By Enterprise Size 10. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Industry 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Million) Analysis By Industry, 2019 to 2023 10.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Industry, 2024 to 2034 10.3.1. Finance 10.3.1.1. Banking 10.3.1.2. Insurance 10.3.1.3. Investment/Securities 10.3.2. Manufacturing & Resources 10.3.2.1. Discrete Manufacturing 10.3.2.2. Process Manufacturing 10.3.2.3. Resource industries 10.3.2.4. Agriculture 10.3.3. Distribution Services 10.3.3.1. Retail 10.3.3.2. Wholesales 10.3.3.3. Transportation /Logistics Services 10.3.3.4. Warehousing & Storage 10.3.3.5. Shipping 10.3.4. Services 10.3.4.1. IT/Professional Services 10.3.4.2. Consumer Services 10.3.4.3. Media, Entertainment & Publishing 10.3.4.4. Travel & Hospitality 10.3.4.5. Legal Services 10.3.5. Public Sector 10.3.5.1. Government (State/Central) 10.3.5.2. Education 10.3.5.3. Healthcare 10.3.5.4. Aerospace & Defense 10.3.5.5. Non-Profit 10.3.6. Infrastructure 10.3.6.1. Telecommunication 10.3.6.2. Energy & Utilities 10.3.6.3. Building & Construction 10.4. Market Attractiveness Analysis By Industry 11. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Country 11.1. Introduction 11.2. Historical Market Size (US$ Million) Analysis By Country, 2019 to 2023 11.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Country, 2024 to 2034 11.3.1. Mexico 11.3.2. Brazil 11.3.3. Argentina 11.3.4. Chile 11.3.5. Peru 11.3.6. Colombia 11.3.7. Venezuela 11.3.8. Rest of Latin America 11.4. Market Attractiveness Analysis By Country 12. Mexico Market Analysis 2019 to 2023 and Forecast 2024 to 2034 12.1. Introduction 12.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 12.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.3.1. By Access Type 12.3.2. By Deployment 12.3.3. By ERP Module 12.3.4. By Enterprise Size 12.3.5. By Industry 12.4. Market Attractiveness Analysis 12.4.1. By Access Type 12.4.2. By Deployment 12.4.3. By ERP Module 12.4.4. By Enterprise Size 12.4.5. By Industry 13. Brazil Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Introduction 13.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 13.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.3.1. By Access Type 13.3.2. By Deployment 13.3.3. By ERP Module 13.3.4. By Enterprise Size 13.3.5. By Industry 13.4. Market Attractiveness Analysis 13.4.1. By Access Type 13.4.2. By Deployment 13.4.3. By ERP Module 13.4.4. By Enterprise Size 13.4.5. By Industry 14. Argentina Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Introduction 14.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 14.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.3.1. By Access Type 14.3.2. By Deployment 14.3.3. By ERP Module 14.3.4. By Enterprise Size 14.3.5. By Industry 14.4. Market Attractiveness Analysis 14.4.1. By Access Type 14.4.2. By Deployment 14.4.3. By ERP Module 14.4.4. By Enterprise Size 14.4.5. By Industry 15. Chile Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Introduction 15.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 15.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 15.3.1. By Access Type 15.3.2. By Deployment 15.3.3. By ERP Module 15.3.4. By Enterprise Size 15.3.5. By Industry 15.4. Market Attractiveness Analysis 15.4.1. By Access Type 15.4.2. By Deployment 15.4.3. By ERP Module 15.4.4. By Enterprise Size 15.4.5. By Industry 16. Peru Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Introduction 16.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 16.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 16.3.1. By Access Type 16.3.2. By Deployment 16.3.3. By ERP Module 16.3.4. By Enterprise Size 16.3.5. By Industry 16.4. Market Attractiveness Analysis 16.4.1. By Access Type 16.4.2. By Deployment 16.4.3. By ERP Module 16.4.4. By Enterprise Size 16.4.5. By Industry 17. Colombia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17.1. Introduction 17.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 17.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 17.3.1. By Access Type 17.3.2. By Deployment 17.3.3. By ERP Module 17.3.4. By Enterprise Size 17.3.5. By Industry 17.4. Market Attractiveness Analysis 17.4.1. By Access Type 17.4.2. By Deployment 17.4.3. By ERP Module 17.4.4. By Enterprise Size 17.4.5. By Industry 18. Venezuela Market Analysis 2019 to 2023 and Forecast 2024 to 2034 18.1. Introduction 18.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 18.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 18.3.1. By Access Type 18.3.2. By Deployment 18.3.3. By ERP Module 18.3.4. By Enterprise Size 18.3.5. By Industry 18.4. Market Attractiveness Analysis 18.4.1. By Access Type 18.4.2. By Deployment 18.4.3. By ERP Module 18.4.4. By Enterprise Size 18.4.5. By Industry 19. Rest of Market Analysis 2019 to 2023 and Forecast 2024 to 2034 19.1. Introduction 19.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2019 to 2023 19.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 19.3.1. By Access Type 19.3.2. By Deployment 19.3.3. By ERP Module 19.3.4. By Enterprise Size 19.3.5. By Industry 19.4. Market Attractiveness Analysis 19.4.1. By Access Type 19.4.2. By Deployment 19.4.3. By ERP Module 19.4.4. By Enterprise Size 19.4.5. By Industry 20. Market Structure Analysis 20.1. Market Analysis by Tier of Companies 20.2. Market Share Analysis by Players 21. Competition Analysis 21.1. Competition Dashboard 21.2. Competition Deep Dive 21.2.1. Business Overview 21.2.2. Solution Portfolio 21.2.3. Key Financials 21.2.4. Key Clients 21.2.5. Go-to-Market Approach & Strategies 21.2.6. Recent Developments (Partnerships, Alliances, etc.) 21.3. Major Vendors 21.3.1. Microsoft 21.3.2. Oracle 21.3.3. SAP 21.3.4. Infor 21.3.5. Sage 21.3.6. Workday 21.3.7. IFS 21.3.8. Epicor 21.3.9. ServiceNow 21.3.10. Odoo 21.3.11. Visma 21.3.12. JetAccess ERP 22. Assumptions and Acronyms Used 23. Research Methodology
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Technology
May 2022
REP-GB-14611
February 2023
480 pages
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Cloud ERP Industry Analysis in Latin America
