Guide to the SMB Market and IT Spending Trends

This guide provides an in-depth analysis of the small and medium-sized business (SMB) market, highlighting its significant role in the global economy with approximately 380 million SMBs worldwide. It outlines the projected IT spending trends among SMBs, estimating a total of $1.4 trillion in IT expenditures, with a notable increase in investments aimed at addressing core business issues. The document details the expected shift in vendor relationships, with 37% of SMBs anticipated to change their IT partners by 2024, creating a $500 billion opportunity for companies focused on SMB solutions. Additionally, it discusses the cautious approach SMBs are taking towards IT spending due to economic uncertainties, while also identifying key market drivers such as skill shortages and the need for enhanced connectivity. The guide emphasizes the importance of tailored strategies for tech companies to effectively meet the evolving needs of SMBs, focusing on personalized targeting and consultative approaches.