At 6.3% CAGR, South & Central America Trade Promotion Management Software Market is Projected to be Worth US$ 45.52 Million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America trade promotion management software market was valued at US$ 27.97 million in 2022 and is expected to reach US$ 45.52 million by 2030, registering a CAGR of 6.3% from 2022 to 2030. Revolution of data analytics, growing need for software solutions and digitalization of trade promotion operations are among the critical factors attributed to the South & Central America trade promotion management software market expansion.

As businesses gather huge volumes of data, the incorporation of advanced analytics tools within trade promotion management solutions becomes crucial. Harnessing the power of data analytics enables companies to obtain actionable insights, optimize promotional strategies, and make informed decisions. The demand for trade promotion management software equipped with robust analytics capabilities is on the rise, reflecting a strategic shift toward data-driven promotional activities in an increasingly competitive business landscape. The revolution of data analytics has the potential to transform trade promotion management (TPM) software in several approaches, making it more effective, efficient, and strategic. Data analytics can provide TPM software with the ability to collect, analyze, and visualize big amounts of data from a variety of sources, including sales data, market data, and customer behavior data. This data can be used to identify trends, patterns, and insights that can provide better decision-making about trade promotion planning, execution, and evaluation. Data analytics can help TPM software optimize trade promotion spending by identifying which promotions are most effective and which ones are not. This can allow businesses to save money and maximize the return on their investment in trade promotions. Therefore, the revolution of data analytics has the potential to transform TPM software into a more powerful and effective tool for enterprises of all sizes. By leveraging the power of data, businesses can make better decisions about their trade promotions, optimize their spending, and improve their customer satisfaction. Thus, the increasing importance of data analytics is likely to create opportunities for the growth of the trade promotion management software market in the coming years.

On the contrary, preference for spreadsheet and sell-out-based payments hampers the growth of South & Central America trade promotion management software market.

Based on component, the South & Central America trade promotion management software market is bifurcated into solution and services. The solution segment held 87.1% share of South & Central America trade promotion management software market in 2022, amassing US$ 24.36 million. It is projected to garner US$ 40.04 million by 2030 to expand at 6.4% CAGR during 2022-2030.

In terms of deployment type, the South & Central America trade promotion management software market is bifurcated into cloud and on-premise. The cloud segment held 66.7% share of South & Central America trade promotion management software market in 2022, amassing US$ 18.65 million. It is projected to garner US$ 32.07 million by 2030 to expand at 7.0% CAGR during 2022-2030.

Based on application, the South & Central America trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held 63.5% share of South & Central America trade promotion management software market in 2022, amassing US$ 17.75 million. It is projected to garner US$ 27.50 million by 2030 to expand at 5.6% CAGR during 2022-2030.

In terms of industry vertical, the South & Central America trade promotion management software market is segmented into retail & consumer goods, pharmaceutical, IT and services, manufacturing, and others. The retail & consumer goods segment held 71.2% share of South & Central America trade promotion management software market in 2022, amassing US$ 19.93 million. It is projected to garner US$ 33.50 million by 2030 to expand at 6.7% CAGR during 2022-2030.

By country, the South & Central America trade promotion management software market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 73.8% share of South & Central America trade promotion management software market in 2022. It was assessed at US$ 20.64 million in 2022 and is likely to hit US$ 34.76 million by 2030, exhibiting a CAGR of 6.7% during 2022-2030.

Key players operating in the South & Central America trade promotion management software market are Wipro Ltd; TELUS; o9 Solutions, Inc.; Oracle Corp; SAP SE; and Aforza Inc, among others.

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