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Software as a service (SaaS) is expected to move US$328mn in Latin America this year, up 23.5% from the US$266mn in 2010, according to a study by Gartner.
Although many analysts consider this niche of the IT market still to be in its infancy in Latin America, several CIOs throughout the region say the technology has "strategic importance," according to Gartner. The study predicts that by 2015, Latin American SaaS revenues will surge to US$694mn.
Worldwide revenues with this service model will total US$12.1bn this year, predicted Gartner, up 20.7% from the US$10bn reported in 2010.
Notwithstanding an economic slowdown, North America will continue to lead the market, accounting for some 64% of global SaaS revenues. However, Gartner estimates that this share will retreat to 60.8% by 2015.
Asia-Pacific SaaS revenues in 2011 will be some US$768mn, up 27.7%. The study highlights Australia, New Zealand, Hong Kong, Singapore and South Korea as the top regional markets.
In Western Europe, SaaS revenues should represent US$2.7bn this year - 23.3% more than a year ago - and US$4.8bn by 2015. The study makes special mention of the UK, Ireland, the Netherlands and the Scandinavian markets.
SaaS revenues in Eastern European countries are forecast to reach US$131mn by year-end, up 29.8% from 2010. For 2015, the study predicts US$270mn in revenues.
According to Gartner, global interest for software as a service is related to constant revision of IT budgets, to the growth of communities that develop platforms as a service (PaaS) and to an increase in cloud computing.