Press release
Latin America Software as a Service (SaaS) Market Report 2026-2034: Size, Share, Growth Trends
Study Assumption Years
Base Year: 2025
Historical Period: 2020-2025
Forecast Period: 2026-2034
Latin America Software as a Service (SaaS) Market Key
Takeaways
The Latin America SaaS market size was valued at USD 22.02 Billion in 2025 with a CAGR of 14.20% projected from 2026 to 2034.
Customer Relationship Management (CRM) dominated the solution segment with approximately 30% revenue share in 2025, driven by enhanced customer engagement and streamlined sales processes.
The public deployment model led with about 60% revenue share in 2025 due to cost-effectiveness and scalability advantages.
Small and medium-sized enterprises contributed to around 70% market revenue in 2025, attracted by subscription-based pricing models.
The IT and telecom sector accounted for the largest industry vertical share at approximately 25% in 2025, reflecting the sector's digital-first approach.
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Market Growth Factors
The Latin America SaaS market growth is strongly propelled by fast-paced digital transformation initiatives in both public and private sectors. Enterprises are focusing on migrating legacy systems to cloud-based platforms to enhance service delivery and operational resilience. For example, the 2024 endorsement of the Digital Agenda for 2026 (eLAC2026) by ECLAC emphasizes connectivity, AI-driven innovation, and digital governance. These efforts promote scalable, cost-effective cloud solutions, establishing SaaS as crucial for efficiency, continuity, and sustainable development in the region.
Enhancements in broadband infrastructure and mobile internet adoption are key drivers boosting the acceptance of SaaS in Latin America. By the end of 2024, 64% of the population (about 413 million users) accessed mobile internet, fostering digital inclusion and trust in cloud technologies. Improved network capabilities enable sophisticated applications and ongoing cloud investments, facilitating real-time communication, remote work, and mobile access to business systems across all enterprise sizes.
Robust venture funding and strategic investments accelerate SaaS market expansion by enabling product development, infrastructure growth, and entry into new segments. In 2025, Brazilian SaaS provider Starian secured over USD 115 million from General Atlantic to boost growth in verticals such as construction, legal, and operational efficiency. Such financial support fuels scalability, service quality improvements, mergers, and innovations which reinforce competitive positioning within the regional market.
Market Segmentation
Solution Type:
Customer Relationship Management (CRM): Dominates with a 30% revenue share in 2025, valued for centralizing customer data, enhancing relationships, and streamlining sales. CRM facilitates client engagement, revenue growth, and operational efficiency through advanced analytics and automation.
Deployment Model:
Public Cloud: Holds the largest share of 60% in 2025, favored for cost benefits, scalability, and minimal infrastructure needs. It supports rapid deployment, ease of updates, mobile access, and remote collaboration, exemplified by Google Cloud's launch of a new cloud region in Querétaro, Mexico in December 2024.
Organization Size:
Small and Medium-sized Enterprises (SMEs): Account for 70% of the revenue share in 2025. SMEs prefer SaaS due to subscription models eliminating upfront costs, enabling scalable, flexible digital solutions that enhance productivity and support growth.
Industry Vertical:
IT and Telecom: The leading vertical with 25% market share in 2025, driven by digital adoption, need for secure and scalable cloud solutions, and 5G network expansions such as Telecom Argentina's plan to increase 5G sites from 550 to 750 in 2025.
Regional Insights
Brazil stands out as the dominant regional market due to strong enterprise demand, advanced digital payment systems, and a vibrant tech ecosystem. Supported by cloud modernization, regulatory frameworks, and growing SME digitalization, Brazil leads regional SaaS adoption. Mexico follows with growth fueled by fintech proliferation, nearshoring trends, and robust government digital initiatives. Other active markets include Argentina, Colombia, Chile, Peru, and a group including Ecuador, Uruguay, Central America, and the Caribbean.
Recent Developments & News
In October 2025, C&R Software expanded its Latin American presence by opening a new office in Santiago, Chile, offering multilingual support and focusing on AI-driven debt management solutions.
In June 2025, SailPoint launched its first AWS-based SaaS instance in Brazil to meet increasing demand for identity security, data sovereignty, and compliance services, enhancing its market footprint across Latin America.
Key Players
Microsoft
International Finance Corporation
Asaas
Starian
Google Cloud
Alibaba Cloud
C&R Software
SailPoint
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Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA,
Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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