NEW YORK, March 22, 2022 /PRNewswire/ -- According to Technavio, the SMB software market estimates a market value of USD 52.01 bn from 2020 to 2025. The report projects that the market will progress at a CAGR of 7.42% during the forecast period.
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SMB Software Market: Drivers and Challenges
The increasing demand for cloud-based applications is driving the market growth. The surge in demand for cloud-based SMB software, such as ERP, is predominantly due to the lowered up-front costs and implementation time. Cloud-based ERP is also capable of providing various other business benefits such as process alignment and business consistency across an organization and accessing of applications by users, employees, and partners from anywhere and anyplace. Cloud-based SMB software solutions also eliminate the need for a dedicated IT support team for maintenance and updates of software and avoid the necessity of server, storage, and computing resources to global organizations.
Factors such as lack of awareness may impede the market growth. The ineffective management of debt collection software is a challenge for most organizations. The awareness about the availability of SMB software can help in understanding money collection and money loss threats faced by an organization. It can also help organizations take cost-effective security measures. Currently, organizations in developing regions are unaware of SMB software and are concerned about the security of confidential data. Hence, vendors need to create awareness about upcoming SMB software solutions through trade fairs, seminars and webinars, and other promotional events.
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SMB Software Market: Vendor Analysis
The SMB software market report offers information on several market vendors, including Acumatica Inc., Cisco Systems Inc., Deltek Inc., Epicor Software Corp., Infor Inc., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, and SYSPRO Pty. Ltd., among others. The key offerings of some of these vendors are listed below:
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SMB Software Market: Segmentation Analysis
By deployment, the market has been segmented into on-premise and cloud. The on-premise segment will have significant market share growth during the forecast period.
By geography, the market has been segmented into North America, Europe, APAC, South America, and MEA. North America will account for 35% of the market's growth during the forecast period. The US and Canada are the key countries for the SMB software market in North America. The growing dependency on financial management will facilitate the SMB software market growth in North America over the forecast period.
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SMB Software Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.42% |
Market growth 2021-2025 |
USD 52.01 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.08 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, Canada, UK, China, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Acumatica Inc., Cisco Systems Inc., Deltek Inc., Epicor Software Corp., Infor Inc., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, and SYSPRO Pty. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Deployment
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio
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