Authored By: Sarah
25 Feb 2025

Latest News- SMB Software Market: On-premises is expected to lead the Deployment segment during 2025-2029

The SMB Software Market is being driven by Increasing demand for cloud-based applications

The SMB Software Market is expected to grow at a CAGR of 8.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 74.7 billion. In the dynamic SMB software market, companies are employing strategic moves such as mergers and acquisitions, partnerships, and collaborations to establish a competitive edge. Notable transactions include Microsoft's acquisition of Fungible in 2023, which bolstered its data center infrastructure and cloud services through DPUs and related software. Similarly, Cisco's acquisition of Isovalent Inc. in December 2023 enhanced its multicloud security and networking capabilities via eBPF, Cilium, and Tetragon. These strategic acquisitions will significantly contribute to the expansion and growth of the SMB software market during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

  • Deployment
    • On-premises
    • Cloud-based
  • Application
    • Media
    • Telecommunication
    • Consultants
    • Law firms
  • Type
    • Enterprise resource planning (ERP)
    • Customer relationship management (CRM)
    • Human resource management (HRM)
    • Accounting and finance software
    • Others
  • Geography
    • North America
      • Canada
      • US
    • Europe
      • Germany
      • UK
      • France
      • Italy
    • APAC
      • China
      • India
      • Japan
      • South Korea
    • South America
    • Middle East and Africa

 

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

  • Increasing demand for cloud-based applications
  • Growing need to enhance business efficiency
  • Increasingly encouraging remote working

However, the market also witnesses some limitations, which are as follows:

  • Threat from open-source SMB software providers
  • Data privacy and security concerns
  • Integration challenges related to unscalable applications

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Market Scope in SMB Software Market Research Report

Market Scope

Report Coverage

Details

Page number

232

Base year

2024

Historic period

2019-2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 8.2%

Market growth 2025-2029

USD 74.7 billion

Market structure

market_structure.ucfirst

YoY growth 2024-2025(%)

7.6

Key countries

US, UK, Canada, Germany, China, Japan, France, India, Italy, and South Korea

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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Research Analysis Overview

The SMB Software Market caters to the needs of small companies with solutions like Accounting Software and Business Management Software, including Functional Modules for Accounts Payable, Payroll, and Accounts Receivable. Trial balance ensures accuracy, while Cost Control Systems use Standard Costs for Large Enterprises and Microbusinesses. Digital Technologies provide Cloud-based services, Cyber Security Solutions, and Remote Work capabilities. On-premise Software and ERP Software are also options. Business processes are optimized for Customer Satisfaction, and Digital Technologies play a crucial role in this evolution.

Market Research Overview

The global IT software market encompasses businesses specializing in the development and production of application software and system software. Application software companies focus on creating specialized programs for business or consumer use, including enterprise, technical, and cloud-based solutions. This market excludes entities producing database management software, interactive home entertainment software, or system software. According to Technavio, the IT software market size is determined by the consolidated revenue generated by all IT software providers, incorporating both on-premises and cloud-based offerings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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