Software - Argentina

Argentina

Revenue in the Software market is projected to reach US$911.50m in 2024.
Enterprise Software dominates the market with a projected market volume of US$390.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.11%, resulting in a market volume of US$915.40m by 2028.
In global comparison, most revenue will be generated in the United States (US$353.50bn in 2024).

Key regions: United States, Canada, Germany, China, Japan

Definition:

In general, software is defined as a set of instructions written as programming code to execute specific tasks on a computing device. The Software market covers a wide range of software products and solutions that are publicly sold by various companies. Most software solutions in this market are designed for professional use, but some can also be suitable for personal use. They can also range from basic productivity tools such as word processors and spreadsheets to complex software solutions such as project management tools, graphic design software, and enterprise resource planning software.

Products in the Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Structure:

The market contains four markets that are based on the functionality of the software:

Productivity Software refers to application software that supports activities such as producing documents, spreadsheets, drawings, and presentations. This market includes Administrative Software, Collaboration Software, Office Software, Creative Software, and Construction and Design Software.
Enterprise Software refers to all software that supports essential large-scale business activities such as enterprise resource management, customer management, and supply chain activities. This market includes Enterprise Resource Planning Software, Customer Relationship Management Software, Business Intelligence Software, Supply Chain Management Software, Content Management Software, and Other Enterprise Software.
Application Development Software refers to software and tools that help the overall application development process.
System Infrastructure Software refers to software that provides the base framework for operating and managing organizational processes and services on hardware devices.

Additional Information:

The Software market comprises revenue and revenue change as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in this market include Microsoft, Adobe, SAP, Oracle, and Salesforce.

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Market

Region

Region comparison

Currency

Analyst Opinion

Argentina, a country known for its rich culture and history, has been experiencing a significant growth in the software market in recent years.

Customer preferences: Argentinian customers are increasingly looking for software solutions that can improve their business operations and increase efficiency. The demand for cloud-based software has been on the rise as it allows companies to access their data from anywhere with an internet connection. Additionally, there is a growing interest in software that can automate processes, such as accounting and payroll, to reduce the workload of employees.

Trends in the market: One of the major trends in the Argentinian software market is the growth of the fintech sector. Fintech companies are leveraging technology to provide financial services that are more accessible and affordable than traditional banks. This trend is being driven by the high number of unbanked individuals in the country, coupled with a growing middle class that is looking for more convenient and cost-effective financial solutions.Another trend in the market is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to develop software solutions that can automate tasks, improve decision-making, and enhance customer experiences. As more companies in Argentina look to digitalize their operations, the demand for AI and ML-powered software is expected to continue to grow.

Local special circumstances: Argentina has a highly skilled workforce in the technology sector, which has helped to drive innovation and growth in the software market. Additionally, the country has a large pool of software developers who are able to provide cost-effective solutions to businesses. This has made Argentina an attractive destination for companies looking to outsource software development.However, the country has also faced some challenges in recent years, including economic instability and currency devaluation. This has made it difficult for companies to invest in new technology and has led to a decrease in consumer spending. Despite these challenges, the software market in Argentina has remained resilient and is expected to continue to grow in the coming years.

Underlying macroeconomic factors: Argentina has a strong technology infrastructure and a high level of internet penetration, which has helped to drive growth in the software market. Additionally, the government has implemented policies to support the development of the technology sector, including tax incentives for software companies and investments in infrastructure.However, the country has also faced challenges related to inflation and a high level of public debt. These factors have contributed to economic instability and have made it difficult for businesses to invest in new technology. Despite these challenges, the software market in Argentina has continued to grow due to the high demand for innovative solutions and the country's skilled workforce.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.