IDC FutureScape: Worldwide Small and Medium-Sized Business 2024 Predictions

PUBLISHED: October 26, 2023

PAGES: 18 Pages

DELIVERY TIME: 1-2 business days

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Description

This IDC study provides the top 10 predictions for worldwide small and medium-sized businesses for 2024."2023 was a year of intense change for SMBs and their digital transformation journeys - from the thrilling rise of GenAI to choppy economic waters pushing the need to automate. As a result, IDC forecasts a spike in SMB IT investments and embarkment on new IT projects as SMBs seek to lean into technology to strengthen their operations and to foster continued growth," observes Katie Evans, research director, Worldwide Small and Medium-Sized Business Markets at IDC.

Product Code: US51281523

IDC FutureScape Figure

Executive Summary

IDC FutureScape Predictions

Summary of External Drivers
Predictions: Impact on Technology Buyers
- Prediction 1: By 2025, Half of Medium-Sized Businesses Will Be Using GenAI-Based Applications to Automate and Optimize Marketing and Sales Processes
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 2: By 2028, 60% of SMBs Will Use Services from Vendors That Leverage GenAI in an Effort to Capitalize on the Benefits of the Technology More Easily
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 3: To Meet Their Goals for Energy Efficiency and Sustainability, More than Half of Medium-Sized Businesses Will Consider Investing in Sustainability Technology Solutions by 2026
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 4: By 2025, 40% of SMBs Will Use Data Analytics to Evaluate Investments in Cloud and to More Closely Monitor DevOps Spending
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 5: By 2025, Cyberattacks Targeting SMBs Will Become Much More Prevalent, Leading to at Least 40% of These Companies Taking Proactive Measures to Mitigate Risks and Work on Addressing Major Skills Gaps
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 6: To Become More Agile and Resilient, Investments in Public Cloud Technologies at SMBs Across the Globe Will Increase by 20% in 2024, with SaaS Applications Expected to Take the Lion's Share
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 7: 65% of Medium-Sized Businesses Will Increase Their Investments in Analytics by 2027 as They Seek to Make Sense of the Consumer Data They Collect and Use It to Improve Business Outcomes
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 8: By 2026, 35% of New Small Businesses Created Worldwide Will Rely on 5G and Fixed Wireless Access for Critical Business Connectivity
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 9: 25% of SMBs Will Account for More than 50% of SMB Technology Spend by 2025 as Technology Intensity, Spending Capacity, and Digital Business Models Become Leading Indicators of SMB Spending Propensity
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 10: During 2024, 80% of SMBs Will Require Case Studies, Clear ROI Evidence, and Assurance of Spending Guardrails to Unlock Their Investment in GenAI Technologies for Generic Productivity Use Cases
  - Associated Drivers
  - IT Impact
  - Guidance