According to the market research firm Zinnov, the small and medium businesses (SMBs) are expected to spend around $11.6 billion on new IT products including mobility, cloud services, social media and analytics in 2015. Also, by end-2020, the capital spend on such innovations will rise to about $25.8 billion.
As per the report, India has nearly 51 million SMBs, of which 12 million have an inclination towards the adoption of technology into their businesses and are looking to adopt newer IT products. The companies see an opportunity in IT to increase their customer base, manage customer relationships better, and ensure efficiency in operations.
Meanwhile, the report added that the mobile application downloads will grow from 100 million in 2014 to 400 million by 2020 in India. The firm believes that the increase in mobile adoption will make the development of such applications viable for SMBs.
