IDC forecasts that the small and medium-sized business (SMB) enterprise applications market will grow to $80.3 billion by the end of 2012, representing a 10.6% compound annual growth rate (CAGR) for the 2008–2012 period. Additionally, IDC finds that there will be increased spending by small and midsize businesses across the entire spectrum of enterprise application segments over the forecast period.
Additional key findings examined in this IDC report include:
--The growing needs of SMBs to automate their business processes and meet regulatory compliance means that opportunities will abound in this market. Enterprise applications providers that lead their selling efforts with their solutions' capabilities for managing these challenges will profit most.
--The SMB markets are extremely competitive and vendors looking to claim a significant share of the expanding opportunity will need to differentiate themselves through delivery of industry-specific functionality for micro-verticals and localized products to appeal to the global needs and support concerns of fast-growing SMBs.
--Vendors will need to ensure more rapid delivery of their applications for time and budget-constrained SMBs by offering fixed scope in-house installations at predictable costs and on-demand subscription programs.
--When searching for new packaged solutions to run their businesses, small firms will seek those that have the non-technical user in mind, require no training, and provide immediate value.
More information on the IT application industry can be found at www.Supportindustry.com
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