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Global IT Spending by SMBs CAGR Growth of 5.91% by 2020
March 23, 2016 | PRNewswireEstimated reading time: Less than a minute
Research and Markets has announced the addition of the "Global IT Spending by SMBs 2016-2020" report to their offering.
This comprehensive report forecasts the Global IT spending by SMBs to grow at a CAGR of 5.91% during the 2016-2020 period.
Commenting on the report, an analyst from the research team said: Organizations are adopting cloud-based solutions to reduce operational costs and increase efficiency. The pay-per-use model offers low upfront costs, and so the use of cloud technologies is high among SMBs. Consumer Internet services such as Dropbox and Google Drive, both cloud-based storage solutions, are trending rapidly.
According to the report, IT budget constraints in SMBs have slowed down the adoption of hardware, software, and IT services solutions. Top executives of companies are always under pressure to shrink IT costs and leverage limited resources. Therefore, to cut costs, SMBs deploy low-cost IT solutions, such as cloud computing, that are flexible, scalable, and reliable.
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