June 16, 2020
According to the research report titled ‘Business Plan Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Platform Subscription Type, available with Market Study Report LLC, worldwide business plan software market generated revenues worth USD 82,730.3 thousand in the year 2019 and is expected to showcase a y-o-y growth rate of 7% during the analysis timeframe, subsequently reaching USD 1,37,871.4 thousand by the year 2027.
Growing number of large organizations, SMEs (small & medium enterprises) and startups has resulted in rapid global industrialization, which in turn is a major factor driving the growth of business plan software market. Increasing awareness pertaining to benefits of business plan software among entrepreneurs along with growing demand for business-planning services in order to measure business prospects is further aiding the market expansion.
Business plan software solutions are cost-efficient as compared to other services. However, high dependency on conventional business planning tools may act as a restraining factor to the overall market growth.
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As per platform type, business plan software industry is divided into Windows, iOS and others. The Windows segment accounted for a substantial market share in the year 2019 and is predicted to expand significantly during the forecast period.
In terms of deployment model, the industry is split into cloud and on-premise, in which the former segment dominated the business plan software market in 2019 and is expected to showcase robust growth during the estimated timeframe.
With respect to subscription type, the market bifurcates the business plan software industry into annual monthly, and one-time segments.
Regionally, the market is categorized into Middle East & Africa, North America, South America, Asia-Pacific and Europe. North America business plan software market held a considerable share in 2019 and is set to record momentous growth during the projected timeframe.
The prominent companies operating in global business plan software industry are StratPad Inc., Enloop Inc., Atlas Business Solutions Inc., Startups.com LLC, PlanGuru LLC, UpMetrics, Palo Alto Software Inc., Tarkenton.com, Simpleplanning and The Business Plan Shop Ltd. among others.