IV. Customer Analysis
4.1 Target Market
The Company will develop both standard and customized software for multiple businesses according to their needs and demands. [Company Name] will largely serve small to medium-sized businesses, ranging from start-ups to well-established corporations, which are further classified into the following groups:
• Financial service providers–There are 982,800 finance and insurance businesses in the US as of 2021, an increase of 0.6% from 2020.
• Construction companies–TThere are 3,664,818 construction businesses in the US as of 2021, an increase of 3% from 2020.
• Manufacturing companies– In 2021, there will be 636,079 manufacturing businesses in the US. The number of businesses in the manufacturing industry in the US has grown 1.2% per year on average over the five years between 2016 – 2021.
• HR management companies– There were 53,861 HR consulting businesses in the US as of 2022, an increase of 4.1% from 2021.
• Other Businesses that may need ERP Software–The Company will target schools, businesses, and other small firms that may need database management software solutions.
4.2 TAM, SAM, and SOM
TAM $xx trillion
The global market for Database Management Software to reach a market size after 5 years.
SAM $xx billion
[Target Location Market]’s Database Management Software market size after 5 years.
SOM $xx billion
[Company Name] would be able to capture a respectable share of the SaaS market by the end of year 5.
