The Latin America, Middle East and Africa Enterprise Application Market would witness market growth of 11.4% CAGR during the forecast period (2021-2027).
The enterprise application market is growing owing to rising demand for real-time computing and increased usage of cloud-based services and solutions. Furthermore, firms are adapting their services to meet the needs and desires of their customers, which is another reason that is likely to drive demand for enterprise applications in the global market. Furthermore, the development of mobile-based enterprise applications is likely to fuel considerable growth in the market during the forecast period.
Enterprise application solutions provide several benefits, including quality management, production process optimization, client interaction, and resource utilization efficiency. As a result, this software was created specifically to meet the needs of consumers. Furthermore, rising demand for access from remote regions, as well as rising smartphone and high-speed internet adoption, are anticipated to accelerate the sector forward over the forecast period.
As countries in the Middle East seek to diversify their economies, the digital transformation of the economy is likely to play a key role. According to the most recent figures from Egypt's Ministry of Supply and Internal Trade, the electronic commerce market in Egypt has surpassed 40 billion Egyptian pounds ($2.54 billion). Between 2019 and 2022, Egypt's electronic commerce consumption is expected to expand at a rate of over 30% per year. The Egyptian government has issued 12.7 billion Egyptian pounds for digital transformation in the fiscal year 2020-2021, and has launched the Digital Egypt project.
Telecom Egypt has announced plans to construct the country's largest international data center in the western section of Cairo. The facility is expected to be operational in the first half of 2021. Turkey is now developing software platforms that will allow shopping centers to build web sites and provide clients with non-contact shopping services.
The Brazil market dominated the LAMEA Enterprise Application Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $9.2 billion by 2027. The Argentina market is anticipated to grow at a CAGR of 12% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 11.1% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Supply Chain Management, Enterprise Resource Planning, Customer Relation Management, Business Process Management, Enterprise Asset Management, Business Intelligence, Content Management System, and Others. Based on Deployment Type, the market is segmented into On-premise, Cloud and Hybrid. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on Vertical, the market is segmented into Telecom & IT, BFSI, Government, Retail, Manufacturing, Healthcare and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Enterprise Application Market is Predict to reach $468.2 Billion by 2027, at a CAGR of 9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Inc., Hewlett-Packard Enterprise Company, IFS AB, QAD, Inc. (Thoma Bravo), Epicor Software Corporation, and Infor, Inc. (Koch Industries).
By Component
By Solution Type
By Deployment Type
By Organization Size
By Vertical
By Country
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