Report : Business Plan Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Platform (iOS, Windows, Others); Deployment Type (On-Premise, Cloud); Subscription Type (One-time, Monthly, Annual)
Accentuating number of start-upslead business plan software market growth at 7.0%CAGR during 2019-2027
According to our latest market study on "Business Plan Software Market to 2027 - COVID-19 Impact and Global Analysis and Forecast by Platform (iOS, Windows, Others); Deployment Type (On-Premise, Cloud); Subscription Type (One-time, Monthly, Annual); and Geography", the market was valued at US$ 82,730.3 thousand in 2019 and is projected to reach US$ 1,37,871.4 thousand by 2027; it is expected to grow at a CAGR of 7.0 % from 2019 to 2027.
The report highlights the key factors driving the market growth, and prominent players and their developments in the market.
The business plan software market is gaining prominence over the years across the globe. Both the developed 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 increasing 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 strategies 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.
The intensifying awareness among the new entrepreneurs in the developing countries is displaying growth in the number of companies offering business plan software in the region; this factor is driving the business plan software market. The awareness related to the benefits of business plan software in business start-ups is strongly growing among the entrepreneurs in developing regions. These factors are offering lucrative business opportunities for business plan software market players.
Atlas Business Solutions Inc., EnloopInc, Palo Alto Software, Planguru LLC, StratPad, Inc., Startups.com LLC, The Business Plan Shop Ltd., Tarkenton.com, Simpleplanning, and Upmetrics are among the leading players operating in the business plan software market. Several other players are also functioning and are contributing significant revenues in the business plan software market.
COVID-19 Impact on Business Plan Software Market
According to World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 as well. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global business plan software market as they are the major demand generation industries for business plan software. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that is suffering serious disruptions due to supply chain issues and manufacturing shutdowns.
By Deployment Type
By Subscription Type