Asia Pacific Business Plan Software Market Forecast to 2027 - COVID-19 Impact and Analysis - by Platform (iOS, Windows, and Others), Deployment Type (On-Premise and Cloud), and Subscription Type (One-time, Monthly, and Annual)

The business plan software market in APAC is expected to grow from US$ 15034.46Mn in 2019 to US$ 32523.87Mn by 2027; it is estimated to grow at a CAGR of 10.48%from 2020 to 2027.

Owing to the cost-effectiveness of the solutions, the demand for business plan software is surging among SMEs and start-ups. With the rise in technology-based business plan solutions, several emerging businesses are opting business planning tools, which helps them in having an appropriate outlook of their upcoming businesses. Drafting a business plan is a very crucial step for any business. From the perspective of SMEs, which are seeking funding, creating a business plan is a difficult task. Implementing business plan software is less expensive than opting for business plan writing services. However, the fees charged by business plan services' companies vary as per the business needs. These companies usually charge writing fees, along with additional features cost. For example, Go Business Plan charges ~US$ 1500 for writing a business plan and ~US$ 150-300 for a review. Moreover, a business plan software provides research-oriented resources, such as investor information, business tips, and market analysis. The cost-effectiveness of business plan software is attracting a substantial number of business owners, which is catalyzing the growth of APAC business plan software market. The majority of the traction in the APAC business plan software market is generated from the developed countries with a higher number of emerging businesses. Moreover, in developed countries, capital investments can be easily availed from private investors as well as public investors.

The cloud segment led the business plan software market based on deployment type in 2019. The technology sector has been increasingly witnessing a significant rise in the development and adoption of cloud-based software in recent times. This growth is mainly attributed to the fact that the cloud-based software simplifies the planning process with tailored business plan templates. In addition, the developed countries have matured internet infrastructure, and it is flourishing in several developing countries, which allows end users in both developed, as well as developing, countries to access the cloud-based business planning software. This factor is driving the APAC business plan software market. The business plan software developers are continuously investing in developing robust and secured cloud-based software with an objective to protect customer data and prevent cyberattacks.

The COVID-19 outbreak has had devastating effect on APAC. The government of countries such as China and India are taking drastic measures to reduce the effects of this outbreak by imposing lockdowns.

The overall APAC business plan software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the APAC business plan software market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The primary respondents typically associated with this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC business plan software market. UpMetrics and PlanGuru, LLC are a few of the players operating in the market in APAC