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With an initial valuation of USD 110 billion in 2023, the global small business market is expected to reach USD 229.12 billion by 2031, up from USD 119.39 billion in 2024, a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
The rise of self-employment is a key factor propelling the small company sector. The entrepreneurial spirit, along with the availability of numerous funding sources and government programs that support new business concepts, contribute to the expansion of the market. Further, market expansion is encouraged by regulatory agencies that are friendly to small enterprises. This field is growing as a result of developments in technology, the rise of online shopping, and the use of artificial intelligence.
One of the best artificial intelligence tools for SMBs in 2024, for example, is ClickUp. Through the provision of a variety of resources and a suite of optimized features, it is intended to boost the team's productivity and development. To further guarantee the content's quality, it provides a library of about 100 research-based tools. Additionally, the data analytics gives useful insights that will aid the small company owner in making judgments and improving the strategy for making decisions. The industry is being propelled by the large range of audience engagement options offered by internet platforms.
Any company or organization that is privately held and run, has a few employees, and has minimal sales volumes is considered a small business. Small and medium-sized enterprises (SMEs) are another name for small firms. The features of this organizational structure, which typically functions within a single country, include autonomy in decision-making, little capital expenditure, and flexible work schedules.
A large portion of the world's economic activity and jobs is supported by the thriving small business market. High levels of competitive pressure and an increased emphasis on cost-effectiveness and efficiency define this era's corporate climate. Technological advancements, globalization, and new business models are propelling this industry forward by opening up more opportunities at lower costs and with more market penetration.
When it comes to employment and gross domestic product (GDP), small enterprises are indispensable. The rising need for digitization, the explosion in the number of small and medium firms, and technological improvements are all contributing to the global small business market's prospering. The worldwide market for small businesses is expanding due to several factors, including the rising popularity of cloud computing and the necessity of various business applications. Nearly half of all private sector jobs and nearly 40% of all private sector payroll in 2017 were held by small enterprises, according to a research by the US Small Business Administration.
The expansion of government programs aimed at supporting entrepreneurs is a key driver of industry growth. National Grid and Amplify LatinX announced a three-year, half-a-million-dollar small business impact initiative in September 2024. Over the course of three years, the program will provide fifty $10,000 capacity building grants in an effort to form partnerships with prominent organizations. As a result, the small firm will be able to expand. In addition, one of the most important factors driving market expansion is the availability of capital for new ideas and entrepreneurs. Any state, territory, or tribal government that wants to invest in small businesses can do so through the State Small Business Credit.
One factor that can slow the market's expansion is the rising level of competition across all market segments. Big names with well-known brands control the market. Consumers' steadfast devotion to established brands acts as an additional brake on the expansion of the small company sector. Customers may be hesitant to test out novel items on the market. Consumers' reluctance to try out novel services and products is a major roadblock to the market's expansion.
One of the most notable developments affecting SMBs is the increasing prevalence of digital transformation. Companies are embracing cutting-edge tech to boost productivity. The market is being propelled by the growth of small businesses and the demand for digital marketing, which is surging. Additionally, the market is trending due to the increase in e-commerce and the usage of cloud-based applications for data management and collaboration. Because of these things, the startup may compete with the established companies and learn how customers behave. Additionally, small businesses are able to prosper in this dynamic market due to the surge in use of AI software and the increase in development of this technology.
Report Coverage
Global Small Business research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Small Business report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Small Business competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Small Business market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Small Business market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Small Business market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
SendinBlue, SendX, GetResponse, SharpSpring, KIZEN, Net-Results, Act-On, HubSpot Marketing Hub, Emercury, emfluence Marketing Platform, Drip, eTrigue DemandCenter, Klaviyo, Avochato, Delivra, Salesfusion, EZ Texting, Growlabs, Straightxt, OutboundEngine
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Small Business market based on the below-mentioned segments:
Global Small Business Market, By Type
On-Cloud
On Premise
Global Small Business market, By Employee Size
No employee
1-19 employee
20 to 499 employee
Global Small Business Market, By Industry
Education and health services
Professional and business services
Wholesale and retail trade
Manufacturing
Leisure and hospitality
Others
Global Small Business market, Regional Analysis
The rise of self-employment is a key factor propelling the small company sector. The entrepreneurial spirit, along with the availability of numerous funding sources and government programs that support new business concepts, contribute to the expansion of the market. Further, market expansion is encouraged by regulatory agencies that are friendly to small enterprises. This field is growing as a result of developments in technology, the rise of online shopping, and the use of artificial intelligence.
One of the best artificial intelligence tools for SMBs in 2024, for example, is ClickUp. Through the provision of a variety of resources and a suite of optimized features, it is intended to boost the team's productivity and development. To further guarantee the content's quality, it provides a library of about 100 research-based tools. Additionally, the data analytics gives useful insights that will aid the small company owner in making judgments and improving the strategy for making decisions. The industry is being propelled by the large range of audience engagement options offered by internet platforms.
Any company or organization that is privately held and run, has a few employees, and has minimal sales volumes is considered a small business. Small and medium-sized enterprises (SMEs) are another name for small firms. The features of this organizational structure, which typically functions within a single country, include autonomy in decision-making, little capital expenditure, and flexible work schedules.
A large portion of the world's economic activity and jobs is supported by the thriving small business market. High levels of competitive pressure and an increased emphasis on cost-effectiveness and efficiency define this era's corporate climate. Technological advancements, globalization, and new business models are propelling this industry forward by opening up more opportunities at lower costs and with more market penetration.
When it comes to employment and gross domestic product (GDP), small enterprises are indispensable. The rising need for digitization, the explosion in the number of small and medium firms, and technological improvements are all contributing to the global small business market's prospering. The worldwide market for small businesses is expanding due to several factors, including the rising popularity of cloud computing and the necessity of various business applications. Nearly half of all private sector jobs and nearly 40% of all private sector payroll in 2017 were held by small enterprises, according to a research by the US Small Business Administration.
The expansion of government programs aimed at supporting entrepreneurs is a key driver of industry growth. National Grid and Amplify LatinX announced a three-year, half-a-million-dollar small business impact initiative in September 2024. Over the course of three years, the program will provide fifty $10,000 capacity building grants in an effort to form partnerships with prominent organizations. As a result, the small firm will be able to expand. In addition, one of the most important factors driving market expansion is the availability of capital for new ideas and entrepreneurs. Any state, territory, or tribal government that wants to invest in small businesses can do so through the State Small Business Credit.
One factor that can slow the market's expansion is the rising level of competition across all market segments. Big names with well-known brands control the market. Consumers' steadfast devotion to established brands acts as an additional brake on the expansion of the small company sector. Customers may be hesitant to test out novel items on the market. Consumers' reluctance to try out novel services and products is a major roadblock to the market's expansion.
One of the most notable developments affecting SMBs is the increasing prevalence of digital transformation. Companies are embracing cutting-edge tech to boost productivity. The market is being propelled by the growth of small businesses and the demand for digital marketing, which is surging. Additionally, the market is trending due to the increase in e-commerce and the usage of cloud-based applications for data management and collaboration. Because of these things, the startup may compete with the established companies and learn how customers behave. Additionally, small businesses are able to prosper in this dynamic market due to the surge in use of AI software and the increase in development of this technology.
Report Coverage
Global Small Business research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Small Business report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Small Business competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Small Business market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | SendinBlue, SendX, GetResponse, SharpSpring, KIZEN, Net-Results, Act-On, HubSpot Marketing Hub, Emercury, emfluence Marketing Platform, Drip, eTrigue DemandCenter, Klaviyo, Avochato, Delivra, Salesfusion, EZ Texting, Growlabs, Straightxt, OutboundEngine |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Small Business Market from 2021 to 2031.
- Market Forecast for Small Business Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Small Business competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Small Business
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Small Business market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Small Business market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
SendinBlue, SendX, GetResponse, SharpSpring, KIZEN, Net-Results, Act-On, HubSpot Marketing Hub, Emercury, emfluence Marketing Platform, Drip, eTrigue DemandCenter, Klaviyo, Avochato, Delivra, Salesfusion, EZ Texting, Growlabs, Straightxt, OutboundEngine
Primary Target Market
- Market Players of Small Business
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Small Business market based on the below-mentioned segments:
Global Small Business Market, By Type
On-Cloud
On Premise
Global Small Business market, By Employee Size
No employee
1-19 employee
20 to 499 employee
Global Small Business Market, By Industry
Education and health services
Professional and business services
Wholesale and retail trade
Manufacturing
Leisure and hospitality
Others
Global Small Business market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive small business market market research and competitor analysis for your business to help you develop more profound insights into the small business market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the small business market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.