SAN FRANCISCO, Aug. 31, 2020 /PRNewswire/ -- The global productivity management software market size is expected to reach USD 102.98 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.4% over the forecast period. The growing demand for workforce management among several businesses, coupled with the need for communication and collaboration between the remote workers, is expected to drive market growth for productivity management software market. The increased adoption of Bring Your Own Device (BYOD), cloud-based SaaS solutions, and enterprise mobility among the small and medium-sized enterprises is expected to propel the demand for productivity management software solutions.
Key suggestions from the report:
- The AI and predictive analytics segment is estimated to expand at the highest CAGR of 14.8% over the forecast period owing to the increasing demand various risk analytics solutions for risk mitigation measures and risk identification
- The cloud segment emerged as the largest segment in 2019 and is anticipated to grow at a CAGR of 17.1% from 2020 to 2027
- The Small and Mid-size Enterprises (SMEs) segment is projected to expand at the fastest CAGR of 18.3% over the forecast period. Increasing demand for productivity management software from the small and mid-size enterprises is anticipated to support segmental growth
- North America held the largest market share in 2019 and is expected to account for a considerable revenue share over the forecast period.
Read 110 page research report with ToC on "Productivity Management Software Market Size, Share & Trends Analysis Report By Solution (Content Management & Collaboration, AI & Predictive Analytics), By Deployment, By Enterprise, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/productivity-management-software-market
The productivity management software includes collaboration and communication applications, time management and tracking applications, predictive analytics tools, and work management and project management applications. Productivity software management tools are responsible for measuring and analyzing the day-to-day activities of the enterprise workforce.
The COVID-19 pandemic has impacted the team communication and workflow in the organization. Web-based video conferencing tools such as Zoom Meetings, Skype, Google Hangout, Slack and Microsoft Teams and many more have proved to be an incredible tool for team and business calls, and a surge in demand for such applications have been witnessed across many countries.
Moreover, the recent developments in Artificial Intelligence (AI) and Machine Learning (ML) have significantly impacted the productivity management software market. The AI and predictive analytics software are used to make an in-depth analysis of the data, transform it into actionable insights, and maximize the organization's productivity. Moreover, cloud-based productivity suites implementing SaaS model are gaining traction in the market. The cloud-based software helps to improve connectivity, by making documents, and excels sheets available online, and provides the ability to share real-time data online.
The North America region held the largest share of the overall market in 2019, owing to the presence of several key players such as Oracle, Salesforce, Microsoft Corporation, IBM, Adobe, and Google. The region has the highest adoption of cloud-based productivity management solutions owing to large enterprises and better-connected infrastructure. The Asia Pacific region is the fastest-growing region in the productivity management solution market owing to the high and increasing number of small and medium-sized enterprises having a considerable demand for productivity management software solutions.
Grand View Research has segmented the global productivity management software market on the basis of solution, deployment type, enterprise type, and region:
- Productivity Management Software Solution Outlook (Revenue, USD Million, 2016 - 2027)
- Content Management & Collaboration
- AI & Predictive Analytics
- Structured Work Management
- Other Solutions
- Productivity Management Software Deployment Type Outlook (Revenue, USD Million, 2016 - 2027)
- Productivity Management Software Enterprise Type Outlook (Revenue, USD Million, 2016 - 2027)
- Small & Mid-size Enterprises (SMEs)
- Large Enterprises
- Productivity Management Software Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Latin America
- The Middle East and Africa
- List of Key Players of Productivity Management Software Market
- Google LLC
- Salesforce.com, Inc.
- Slack Technologies, Inc.
- IBM Corporation
- Zoho Corporation Pvt. Ltd.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc.