The business plan software market is gaining prominence over the years across the globe. Both the developed countries and developing countries are experiencing significant growth in the number of emerging start-ups with tech-savvy entrepreneurs. The demand for business plan software is maximum among the new entrepreneurs in the developed countries; however, the emerging entrepreneurs are gaining awareness related to the benefits of software based business plan software. This is catalyzing the growth of the business plan software market. The business plan software available in the market is also used by several consultancies that offer business planning services. These consultancies experience a huge number of entrepreneurs annually seeking robust business plans across industries. Pertaining to the rise in demand for business plans from diversified industry verticals, the consultancies opt for software-based plans which facilitate them with a wide array of business plan samples. This helps them to gain a huge customer base and pay the subscription amount. This factor propels the growth of the business plan software market.
While there are diverse viewpoints on the damage, which COVID-19 may cause, the fact remains that COVID-19 is spreading worldwide. New cases are rising in locations including, the US, Canada, Europe, Africa, the Middle East, India, Australia, South Korea, India, and Japan, among several other countries. Though the impacts on diverse businesses are well-known, the technology sector is also facing the largest disruption in recent remembrance
The global business plan software market is segmented on the basis of parameters such as platform, deployment type, subscription type, and geography. On the basis of platform, the market has been categorized as iOS, Windows, and others. The deployment type segment has been bifurcated into on-premise and cloud. The subscription type segment is classified as one-time, monthly, and annual. Geographically, the business plan software is segmented as North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
The stupendous growth in global industrialization is a result of the rising number of start-ups, small and medium enterprises (SMEs), and large organizations across industries. The start-up ecosystem is booming in the current scenario across the world and is driving the economy of every country. The new entrepreneurs are seeking businessplanning services to assess their business prospects. Considering the fact, that majority of the emerging entrepreneurs in the developed countries are well aware of the benefits of software-based business planning, the demand for business plan software among the companies providing business planning services is surging. This parameter is positively influencing the growth of the business plan software market.
The business planning software developing companies are significantly focusing on the development of their products for various platforms. The iOS, Windows, Linux, web-based software are available in abundance to facilitate the new entrepreneurs or new business owners to determine and assess respective business roadmap. The others (web-based and Linux) segment dominates the business plan software market, followed by the windows segment and iOS segment.
The cloud-based business plan software, as well as on-premise business plan software, are gaining popularity among new entrepreneurs and consultancies offering business planning services. The cloud segment generates the majority of the demand since it is comparatively less expensive and due to strong network infrastructure in developed countries. In addition, the business plan software developing companies are concentrating heavily on designing a high-level security patch in order to eliminate the risk of cyber-attack. This factor is also creating significant demand from the end users, thereby driving the business plan software market.
The global start-up ecosystem is surging, and every new business owner seek an appropriate business roadmap plan. This has led to an upsurge in the count of business plan software developers across the globe. These developers roll out their products on a subscription basis such as a one-time subscription, monthly subscription, and annual subscription. The demand for each of the subscription types mentioned above is at a constant rise among different end users. The annual subscription type segment dominates the business plan software market, followed by the one-time segment and monthly segment.
Players operating in the Business plan software market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the Business plan software market. A few developments by key players of the Business plan software market are:
In February 2019, Upmetrics Business Planner is here to help. This streamlined, all-in-one platform allows customers to create custom business plans, draft financial projections, and much more — and right now a lifetime subscription is available quickly and easily for over 95 percent off at just $24.99.
The regional trends and factors influencing the Business Plan Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Business Plan Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 82.73 Million |
| Market Size by 2027 | US$ 137.87 Million |
| Global CAGR (2019 - 2027) | 7.00% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Platform
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Business Plan Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Business Plan Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Business Plan Software Market
The business plan software market was dominated by North America. The North American region comprises the US, Canada, and Mexico. As per the 2019 Small Business Profile published by the Small Business Administration, small businesses in the US employ ~59.9 million of the population and represent over 95% of the country’s total businesses. However, in December 2018, the National Federation of Independent Business (NFIB) dropped to 104.4, which is its lowest since late-2016. As per the association, the increasing trade disputes, credit card debt, and growing fiscal deficit, are some of the key factors affecting the optimism among the country’s small businesses. Further, the survey conducted by NFIB also noticed a drop in the number of entrepreneurs willing to expand their businesses owing to current political uncertainty or economic conditions.
During the forecast period, the cloud segment led the business plan software market. This is due to the fact that the cloud-based software simplifies a business planning process with tailored business plan templates through better planning. This benefit has attracted a significant percentage of end users, and pertaining to the rising demand for cloud-based software, the majority of the business plan software market players are offering cloud-based products. In addition, the internet infrastructure has matured in developed countries and is flourishing in several developing countries, thereby, allow end users in both developed countries as well as developing countries to access the cloud-based business planning software. This factor is driving the business plan software market.
The stupendous growth in global industrialization is a result of the rising number of start-ups, small and medium enterprises (SMEs), and large organizations across industries. The start-up ecosystem is booming in the current scenario across the world, and is driving the economy of every country. The new entrepreneurs are seeking business-planning services to assess their business prospects. Considering the fact, that majority of the emerging entrepreneurs in the developed countries are well aware of the benefits of software-based business planning, the demand for business plan software among the companies providing business planning services is surging. This parameter is positively influencing the growth of the business plan software market.