The 2023 report on the “Productivity Management Software Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Productivity Management Software Market is valued approximately USD 47.33 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.8 % over the forecast period 2022-2028. The productivity management software solutions differ depending on factors such as staff strength, organizational structure, and the departments in which they are used.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Software suppliers are putting a lot of effort into keeping up with new technology trends and improving their software designs to meet the needs of their customers. The growing use of advanced technologies such as artificial intelligence, cloud computing, and machine learning, as well as digital transformation initiatives that have resulted in improved IT systems to meet customers’ diverse requirements, the need to encourage team collaboration and increase workforce utilisation, and the growing use of advanced technologies such as artificial intelligence, cloud computing, and machine learning are expected to drive the growth of the market.
Several firms are investing in research and development in order to produce productivity management software solutions that are simple to implement and comprehend, as well as boost workplace productivity. For example, on March 1st , 2021, Google LLC (U.S.) introduced Workspace Frontline, a new edition of its Google Workspace productivity suite tailored specifically for frontline personnel and included a set of time management tools. Furthermore, businesses are increasingly turning to cloud-based technology. Cloud-based management tools are increasingly being used by enterprises to store their applications and data. Project planning, collaboration, monitoring, and completion are all made easier using cloud-based productivity management tools. Project managers complete work using a network of tools accessible within the software-productivity management software (PMS) implementation varies by company and team instead of a plain old whiteboard and sticky notes. However, high deployment cost associated with Productivity Management Software impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Productivity Management Software Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Because of the presence of significant firms such as Salesforce, Oracle, IBM Corporation, Microsoft Corporation, Adobe, and Google, North America accounted for the biggest revenue share and is expected to continue to do so throughout the projection period. The rising adoption of PMS solutions to manage monotonous duties and rapidly changing infrastructure in enterprises are primarily responsible for the growth. Market growth would be aided by increased implementation of AI and machine learning technology.
From 2022 to 2028, the Asia Pacific market for productivity management software is expected to grow at the fastest rate. Regional growth is likely to be supported by emerging industry areas such as healthcare, IT and telecom, BFSI, and others. In addition, the growing number of small and mid-size businesses in the regions would enhance regional market growth throughout the forecast period.
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Major market player included in this report are:
Google LLC
Microsoft
Salesforce.com, Inc.
Slack Technologies, Inc.
Monday.com
IBM Corporation
Oracle
Zoho Corporation Pvt. Ltd.
Adobe
HyperOffice
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Solution
Content Management & Collaboration
AI & Predictive Analytics
Structured Work Management
Other Solutions
By Deployment
On-Premise
Cloud
By Enterprise
Large Enterprises
Small & Mid-Size Enterprises
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Which elements of this study are relevant to market analysis?
- The research offers a thorough analysis of market trends, along with details on regional usage and consumption.
- The growth rates of each area, including their respective nations, are included in market reports for the upcoming years.
- How are the major market players rated?
- A thorough study of the market’s top rivals is provided in this report.
- The study contains details about the major market vendors.
- Each company’s profile, revenue sources, and items produced are all covered in detail in the study.
- Along with the opinions of the top market participants, the study includes data and information about rival companies.
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