India's SMB Market Looks Like Huge Potential Opportunity for Tech Vendors

Ann All

IDC is pretty smart.

Back in December, the research company forecast that SMBs would outspend their larger counterparts in 2008, with markets like India, China, Russia and Brazil emerging as especially big technology spenders. An Analyst Perspectives report from earlier this year made a similar prediction, anticipating spending increases of up to 28 percent by SMBs in the Asia-Pacific region in 2008.

That kind of potential appears to exist in India, which has some 35 million SMBs, according to a recent Zinnov Management Consulting study. These SMBs generate more than 60 percent of the country's gross domestic product, yet account for only about 30 percent of its IT spending, according to a CIOL story about the study.

Of course, there are some significant barriers to IT adoption by Indian SMBs. Among them:

  • Lack of awareness
  • Lack of solutions targeted to the needs of India's SMBs
  • Need for a clear return on investment
  • SMBs' existing investments in legacy systems
  • Need for affordable technical support
  • Need for solutions that integrate well with other technologies

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