SMB Software Market size to grow by USD 57.76 billion from 2022 to 2027, Increasing demand for cloud-based applications to drive the market growth - Technavio

NEW YORK, May 9, 2023 /PRNewswire/ -- The global SMB software market size is estimated to increase by USD 57.76 billion from 2022 to 2027. The market's growth momentum will progress at a CAGR of 7.41% during the forecast period. The rapid adoption of cloud-based applications by different businesses drives the SMB software market growth. The growing demand for cloud-based SMB software like ERP is majorly due to lower initial costs and faster implementation times. A cloud-based ERP also offers a variety of other business benefits, such as process integrity and business consistency across the organization and access to applications by users, employees, and partners. The solutions also eliminate the need for a dedicated IT support team to maintain and update software, eliminating the need for servers, storage, and computing resources for global organizations. It also enables companies to effectively execute their business strategies and focus on their core business, not on rising IT costs. Discover some insights on market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report

SMB software market – Vendor Analysis
Vendor Landscape - The global SMB software market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer SMB software in the market are Accenture Plc, Acumatica Inc., Alfresco Software Ltd., Cisco Systems Inc., Epicor Software Corp., IFS World Operations AB, Infor Inc., International Business Machines Corp., Microsoft Corp., Newgen Software Technologies Ltd., Open Text Corp., Roper Technologies Inc., Sage Group Plc, SAP SE, SYSPRO Pty. Ltd., TOTVS SA, Unit4 Group Holding B.V., Workday Inc., Xero Ltd., and Oracle Corp. and others.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Vendor Offerings -

• Acumatica Inc. - The company offers SMB software solutions such as Acumatica Cloud ERP.
• Cisco Systems Inc. - The company offers SMB software solutions such as Switches, Routers, Wireless access points, and Networking management.
• IFS World Operations AB - The company offers SMB software solutions such as IFS Cloud Platform.
• For details on the vendor and their offerings – Request a sample report

SMB Software Market - Segmentation Assessment

Segment Overview
This report extensively covers market segmentation by deployment (on-premise and cloud), application (media, telecommunication, consultants, and law firms), and geography(North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the on-premise segment will be significant for overall market growth during the forecast period. On-premise SMB software including business management software, ERP software, customer relationship management software, logistics service software, debt collection software, and cloud solutions are preferred for good system security. Using such software solutions requires a robust IT infrastructure and perpetual license fees for on-premises software include recurring fees for support, training, and software updates. Hence, such factors influence the segment growth during the forecast period.

Geography Overview
By geography, the global SMB software market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global SMB software market.

• North America is estimated to account for 34% of the global market growth during the forecast period. The region's dominance in the market is primarily owing to the availability of adequate IT infrastructure that has supported the growth of the regional market for several years. Cross-industry organizations in the region focus on improving business processes to increase customer satisfaction and gain a competitive advantage in global markets, which is expected to increase the demand for SMB software during the forecast period. In addition, due to the growing need for supply chain planning and execution software for organizations operating in the region to manage their supply chains more efficiently and effectively, SMB software is expected to grow in demand. 

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

SMB Software Market – Market Dynamics

Key Trends - 

• Increasing mergers and acquisitions between SMB software vendors and global multinational companies is an emerging trend fueling the SMB software market.
• Market vendors adopt various strategies such as mergers and acquisitions, partnerships and collaborations to gain a competitive advantage over incumbent players. 
• For instance, in August 2020, Cisco Systems Inc. acquired ThousandEyes to strengthen its internet and cloud intelligence platform.
• Thus, increasing acquisitions by SMB software vendors to strengthen their presence in the global SMB software market will have a positive impact on market growth during the forecast period.
• Hence, such factors influence the growth of the SMB software market during the forecast period.

Major challenges - 

• Lack of awareness of SMB software in various developing countries challenges the SMB software market. 
• Most SMBs suffer from inefficient management of collection software and recognizing the availability of SMB software can help you understand the cash recovery and loss threats your business faces. 
• It helps organizations implement cost-effective security measures and the collection software for SMBs emphasizes responsibilities related to collection policies and procedures.
• Organizations in developing regions are new to SMB software and are concerned about the security of sensitive data.
• Hence, such challenges impede the market growth during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this SMB Software Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the SMB software market between 2023 and 2027
• Precise estimation of the size of the SMB software market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the SMB software market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of SMB software market vendors

Subscribe to our Basic Plan billed annually at USD 5000. 

Technavio's SUBSCRIPTION platform

Related Reports:

The claims processing software market size is expected to increase by USD 24.39 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.71%. Furthermore, this report extensively covers the claims processing software market segmentation by component (software and services) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The increasing government regulations on mandatory insurance coverage in developing countries is a key factor driving the global claims processing software market growth.

The online financing platform for SMBs market size is expected to increase by USD 9.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 16.24%. This online financing platform for SMBs market research report extensively covers online financing platforms for SMBs market segmentation by application (equity financing and debt financing) and geography (North America, Europe, APAC, South America, and Middle East and Africa). One of the key factors driving the global online financing platform for SMBs market growth is the increase in lending to SMBs.

Browse for Technavio's Information Technology Market Reports   

Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global SMB software market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global SMB software market 2017 - 2021 ($ billion)

• 4.2 Deployment Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Deployment Segment 2017 - 2021 ($ billion)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Deployment

• 6.1 Market segments
• Exhibit 30: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Deployment - Market share 2022-2027 (%)

• 6.2 Comparison by Deployment 
• Exhibit 32: Chart on Comparison by Deployment
• Exhibit 33: Data Table on Comparison by Deployment

• 6.3 On premise - Market size and forecast 2022-2027 
• Exhibit 34: Chart on On premise - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on On premise - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on On premise - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on On premise - Year-over-year growth 2022-2027 (%)

• 6.4 Cloud - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Cloud - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Cloud - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Deployment 
• Exhibit 42: Market opportunity by Deployment ($ billion)
• Exhibit 43: Data Table on Market opportunity by Deployment ($ billion)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Media - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Media - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Media - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Media - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Media - Year-over-year growth 2022-2027 (%)

• 7.4 Telecommunication - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Telecommunication - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Telecommunication - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Telecommunication - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Telecommunication - Year-over-year growth 2022-2027 (%)

• 7.5 Consultants - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Consultants - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Consultants - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Consultants - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Consultants - Year-over-year growth 2022-2027 (%)

• 7.6 Law firms - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Law firms - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Law firms - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Law firms - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Law firms - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Application 
• Exhibit 64: Market opportunity by Application ($ billion)
• Exhibit 65: Data Table on Market opportunity by Application ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Canada - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027 
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027 
• Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ billion)
• Exhibit 112: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Acumatica Inc.
• Exhibit 119: Acumatica Inc. - Overview
• Exhibit 120: Acumatica Inc. - Product / Service
• Exhibit 121: Acumatica Inc. - Key offerings

• 12.4 Cisco Systems Inc.
• Exhibit 122: Cisco Systems Inc. - Overview
• Exhibit 123: Cisco Systems Inc. - Business segments
• Exhibit 124: Cisco Systems Inc. - Key news
• Exhibit 125: Cisco Systems Inc. - Key offerings
• Exhibit 126: Cisco Systems Inc. - Segment focus

• 12.5 Epicor Software Corp. 
• Exhibit 127: Epicor Software Corp. - Overview
• Exhibit 128: Epicor Software Corp. - Product / Service
• Exhibit 129: Epicor Software Corp. - Key offerings

• 12.6 IFS World Operations AB 
• Exhibit 130: IFS World Operations AB - Overview
• Exhibit 131: IFS World Operations AB - Product / Service
• Exhibit 132: IFS World Operations AB - Key offerings

• 12.7 Infor Inc.
• Exhibit 133: Infor Inc. - Overview
• Exhibit 134: Infor Inc. - Product / Service
• Exhibit 135: Infor Inc. - Key news
• Exhibit 136: Infor Inc. - Key offerings

• 12.8 International Business Machines Corp. 
• Exhibit 137: International Business Machines Corp. - Overview
• Exhibit 138: International Business Machines Corp. - Business segments
• Exhibit 139: International Business Machines Corp. - Key offerings
• Exhibit 140: International Business Machines Corp. - Segment focus

• 12.9 Microsoft Corp.
• Exhibit 141: Microsoft Corp. - Overview
• Exhibit 142: Microsoft Corp. - Business segments
• Exhibit 143: Microsoft Corp. - Key news
• Exhibit 144: Microsoft Corp. - Key offerings
• Exhibit 145: Microsoft Corp. - Segment focus

• 12.10 Oracle Corp.
• Exhibit 146: Oracle Corp. - Overview
• Exhibit 147: Oracle Corp. - Business segments
• Exhibit 148: Oracle Corp. - Key news
• Exhibit 149: Oracle Corp. - Key offerings
• Exhibit 150: Oracle Corp. - Segment focus

• 12.11 Roper Technologies Inc. 
• Exhibit 151: Roper Technologies Inc. - Overview
• Exhibit 152: Roper Technologies Inc. - Business segments
• Exhibit 153: Roper Technologies Inc. - Key offerings
• Exhibit 154: Roper Technologies Inc. - Segment focus

• 12.12 Sage Group Plc
• Exhibit 155: Sage Group Plc - Overview
• Exhibit 156: Sage Group Plc - Business segments
• Exhibit 157: Sage Group Plc - Key offerings
• Exhibit 158: Sage Group Plc - Segment focus

• 12.13 SAP SE
• Exhibit 159: SAP SE - Overview
• Exhibit 160: SAP SE - Business segments
• Exhibit 161: SAP SE - Key news
• Exhibit 162: SAP SE - Key offerings
• Exhibit 163: SAP SE - Segment focus

• 12.14 SYSPRO Pty. Ltd.
• Exhibit 164: SYSPRO Pty. Ltd. - Overview
• Exhibit 165: SYSPRO Pty. Ltd. - Product / Service
• Exhibit 166: SYSPRO Pty. Ltd. - Key offerings

• 12.15 TOTVS SA
• Exhibit 167: TOTVS SA - Overview
• Exhibit 168: TOTVS SA - Product / Service
• Exhibit 169: TOTVS SA - Key offerings

• 12.16 Unit4 Group Holding B.V. 
• Exhibit 170: Unit4 Group Holding B.V. - Overview
• Exhibit 171: Unit4 Group Holding B.V. - Product / Service
• Exhibit 172: Unit4 Group Holding B.V. - Key offerings

• 12.17 Workday Inc.
• Exhibit 173: Workday Inc. - Overview
• Exhibit 174: Workday Inc. - Product / Service
• Exhibit 175: Workday Inc. - Key news
• Exhibit 176: Workday Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio