Cloud Segment to Dominate South America Diagramming Software Market during 2019–2028

According to a new market research study on “South America Diagramming Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment Type, Enterprise Size, and Application,” is expected to reach US$ 23.91 million by 2028 from US$ 17.78 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the South America diagramming software market along with the drivers and restraints pertaining to the market growth. Strategic initiatives by major players is the major factor driving the growth of the South America diagramming software market. However, prevalence of freely available diagramming solutions may hinder the growth of South America diagramming software market.

Brazil reported the largest number of COVID-19 cases across South America, followed by Ecuador, Chile, Peru, and Argentina. The COVID-19 pandemic has compelled several country governments to impose lockdowns and suspend economic activities to contain the spread of the novel coronavirus. The implementation of restrictions negatively impacted the technological investments made by the companies in the region. However, the strict lockdown across the region has propelled the adoption of cloud solutions among enterprises to continue business operations and efficient communications among teams. Thus, the rising adoption of such cloud solutions is expected to drive the growth of the South America diagramming software market in the coming years.

The market for diagramming software market is segmented into deployment type, enterprise size, application, and country. Based on deployment type, the diagramming software market can be bifurcated into cloud and on-premises. In 2020, the cloud segment held the largest share South America diagramming software market. Based on enterprise size, the diagramming software market is categorized into small & medium-size enterprises and large enterprises. In 2020, the large enterprises segment held the largest share South America diagramming software market. Based on application, the diagramming software can be categorized into educational institutions, corporates, and personals. The corporates segment contributed a substantial share in 2020. Based on country, the market is segmented into Brazil, Argentina, and rest of SAM. In 2020, Brazil is estimated to have the largest share of the market.

CREATELY (CINERGIX PTY LTD); Edrawsoft; Microsoft Corporation; and SmartDraw, LLC are among the leading companies in the South America diagramming software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Edrawsoft launched its new Wondershare EdrawMax 11.0 version for better customer experience. The new solution includes diagram options for diverse user scenarios and abundant diagram templates for different industries.

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