The IT requirements of SMBs differ from large enterprises, as the former have limited IT budgets. Small-sized firms seek IT solutions that can help them grow by implementing IT in their business models for long-term sustainable growth. In the last five years, the priorities of SMBs have been redefined with the growing awareness of the benefits of using IT in business (in terms of top line and bottom line). A sharp focus on server and storage virtualization technologies, mobility, big data analytics, business intelligence (BI), cloud computing, next-gen workspace, and collaboration technologies has shaped these priorities. Medium-sized businesses are investing in IT to gain a stronger financial position in the business cycle.
Scope of the Report:This report studies the SMBs IT Spending market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the SMBs IT Spending market by product type and applications/end industries.
The IT services segment dominated the market.
IT spending in the public sector segment is expected to expand impressively during the next few years. Spending on IT in the public sector involves enhancing public services such as healthcare, education, and transportation. An increased IT budget helps enhance business operations and reduce costs. Public sector IT spending in the Americas, EMEA, and Asia-Pacific (APAC) is on the rise because the US, the UK, India, Japan, China, and Singapore are significantly investing in this sector.
The Americas accounted for the largest market share of IT spending in SMBs among all geographies. North American banks are investing heavily in technology to improve the performance of retail banking services. This has contributed to the growth of the market in this region.
The global SMBs IT Spending market is valued at xx million USD in 2020 and is expected to reach xx million USD by the end of 2026, growing at a CAGR of xx% between 2020 and 2026.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of SMBs IT Spending.
Europe also play important roles in global market, with market size of xx million USD in 2020 and will be xx million USD in 2026, with a CAGR of xx%.
Market Segment by Companies, this report covers IBM
Oracle
Dell EMC
HP
Microsoft
Cisco Systems
Fujitsu
Toshiba
Amdocs
SAP
TCS
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Software
Hardware
IT Services
Market Segment by Applications, can be divided into Public Sector
BFSI
Telecom and Media
Retail/Wholesale
Other
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
