Global IT Spending by SMBs 2016-2020
About IT Spending by SMBs
SMBs drive national economies by increasing employment and contributing to GDP growth. The economic development of a country heavily depends on the success ratio of SMBs in the country. SMBs use technology to accelerate their performance and enhance productivity. These entities are heavily investing in technology to automate routine tasks, improve quality, enhance customer service, raise profitability, establish effective communications, and speed up time-to-market.
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.
Technavio’s analysts forecast the Global IT spending by SMBs to grow at a CAGR of 5.91% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global IT spending by SMBs for 2016-2020. To calculate the market size, the report considers the revenue generated from the following segments:
Technavio Announces the Publication of its Research Report – Global IT Spending by SMBs 2016-2020
Technavio recognizes the following companies as the key players in the Global IT Spending by SMBs: Cisco, Systems, Dell, HP, and IBM.
Other Prominent Vendors in the market are: Amdocs, Fujitsu, Lenovo, Microsoft, Oracle, SAP, TCS, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “Organizations are adopting cloud-based solutions to reduce operational costs and increase efficiency. The pay-per-use model offers low upfront costs, and so the use of cloud technologies is high among SMBs. Consumer Internet services such as Dropbox and Google Drive, both cloud-based storage solutions, are trending rapidly.”
According to the report, IT budget constraints in SMBs have slowed down the adoption of hardware, software, and IT services solutions. Top executives of companies are always under pressure to shrink IT costs and leverage limited resources. Therefore, to cut costs, SMBs deploy low-cost IT solutions, such as cloud computing, that are flexible, scalable, and reliable.
Further, the report states that the growing use of mobility solutions and the BYOD trend are making it necessary for organizations to invest in robust and secure ICT infrastructure. Protecting sensitive data is the biggest challenge organizations face in an age of ubiquitous connected devices and the widespread use of mobility solutions.
Cisco, Systems, Dell, HP, IBM, Amdocs, Fujitsu, Lenovo, Microsoft, Oracle, SAP, TCS, Toshiba.
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