What is the global market size of Small Business Market?

Global Small Business Market size was valued at USD 110 billion in 2021 and is poised to grow from USD 119.35 billion in 2022 to USD 229.2 billion by 2030, at a CAGR of 8.5% during the forecast period (2023-2030).

Small Business Market Size, Share, Growth Analysis, By Type(On-Cloud, On Premise), By Employee Size(No employee, 1-19 employee, 20 to 499 employee), By Industry(Education and health services, Professional and business services, Wholesale and retail trade, Manufacturing), By Region - Industry Forecast 2025-2032

Q: Who are the key vendors in the Global Small Business Market?

The global small business market exhibits high competition characterized by the presence of major entrepreneurs trying to dominate the market. Well-known brands use their many products and innovative solutions, playing an important role. These companies continue to invest in funding to help small businesses. Emerging players including HubSpot Marketing Hub and SendX are developing which stand out in providing specialized automation solutions. With Industry 4.0 and the growing capabilities of the Industrial Internet of Things (IIoT), competitive edge is increasing, forcing market participants to stand out through cutting-edge technologies and moving service offerings later on. 'SendinBlue', 'SendX', 'GetResponse', 'SharpSpring', 'Emercury', 'HubSpot Marketing Hub', 'Drip', 'Avochato', 'Salesfusion', 'Delivra'

Report ID: SQMIG20Q2011 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 92 | Figures: 66

Small Business Market Regional Insights

Asia-Pacific has become a dominant force in the global small business market. Countries such as China, Japan, South Korea, and India have been significant contributors to the region’s strong market position. India tends to be the fastest growing country in the small business sector. In the Asia-Pacific region, small business is growing rapidly due to the increase in government initiative for small business, and rapid urbanization. The Government of India has initiated the “Startup India” which aims to support entrepreneurs and new startup ideas. In addition, the availability of funding for small business, further drive the growth of the market

The United States is generally the most important country in the North American Small Business market. The increase in the number of small businesses in California is one of the major factors for the growth of the market. Moreover, a huge population base, availability of various advanced technology further propels the market growth

Small Business Market Report Snapshots

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Small Business Market size was valued at USD 119.35 billion in 2022 and is poised to grow from USD 129.49 billion in 2023 to USD 248.71 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).

The small business market exhibits high competition characterized by the presence of major entrepreneurs trying to dominate the market. Well-known brands use their many products and innovative solutions, playing an important role. These companies continue to invest in funding to help small businesses. Emerging players including HubSpot Marketing Hub and SendX are developing which stand out in providing specialized automation solutions. With Industry 4.0 and the growing capabilities of the Industrial Internet of Things (IIoT), competitive edge is increasing, forcing market participants to stand out through cutting-edge technologies and moving service offerings later on. 'SendinBlue', 'SendX', 'GetResponse', 'SharpSpring', 'Emercury', 'HubSpot Marketing Hub', 'Drip', 'Avochato', 'Salesfusion', 'Delivra'

The increase in government initiative for various startups is one of the major factors for the growth of the market. In September 2023, National Grid, in partnership with Amplify LatinX, announced the launch of a three-year, $500,000 small business impact initiative. The initiative aims to partner with leading organizations and offer 50 $10,000 capacity building grants for three years. It will help the small business to grow.

The rise in adoption of digital transformation is one of the major trends for small businesses. Business is adopting advanced technology in order to enhance efficiency. This surge in demand for digital marketing further surge the growth of small business and propel the market. Further the use of cloud-based tools for data management and collaboration and the surge in e-commerce industry, trends the market. These factors allow the startup to understand the consumer behavior and compete with the larger players. Moreover, increase in development in artificial intelligence and surge in use of these software helps the small business to thrive in this rapidly evolving market.

Asia-Pacific has become a dominant force in the small business market. Countries such as China, Japan, South Korea, and India have been significant contributors to the region’s strong market position. India tends to be the fastest growing country in the small business sector. In the Asia-Pacific region, small business is growing rapidly due to the increase in government initiative for small business, and rapid urbanization. The Government of India has initiated the “Startup India” which aims to support entrepreneurs and new startup ideas. In addition, the availability of funding for small business, further drive the growth of the market

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Small Business Market Regional Insights

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