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Software giant SAP (NYSE: SAP) is starting to see increasing adoption of software solutions in the healthcare vertical in Latin America, company regional senior VP for industries and solutions, Felix Feddersen, told BNamericas.
"We have offered solutions for this market since about three years ago, but only last year did we decide to focus on this vertical," he said.
The business will be driven by markets such as Brazil, Chile, Colombia and Argentina, he added.
SAP also experienced healthy growth rates in verticals such as banking, retail and the public sector last year in the region, Feddersen noted.
In the retail market, SAP expanded 45.4% in 2010, while growth in the public sector was 34.4%. In the financial services segment, the company increased sales 12%.
"We expect these verticals, which are strategic for us, to continue growing at significant rates during 2011," Feddersen added.
For 2011, SAP expects the mining vertical, as well as the oil and gas segment, to experience significant expansion.