Global Task Management Software Market to 2023 - Recent Advancements in the Areas of AI and ML Present Opportunities
DUBLIN, Sept 19, 2018 /PRNewswire/ --
The "Task Management Software Market by Business Function (Marketing, Human Resource, Finance), Component (Software and Services), Deployment Type (Cloud and On-Premises), Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global task management software market size is expected to grow from USD 2.27 billion in 2018 to USD 4.33 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period.
The major factors driving the market growth include the digital transformation initiatives that have led to improved IT systems to meet customers' dynamic requirements. The major industry verticals in the market include Banking, Financial Services, and Insurance (BFSI); retail and consumer goods; and Information Technology (IT) and telecom; and real estate and construction.
The report segments the task management software market by business function, component, deployment type, organization size, industry vertical, and region. The software segment is estimated to dominate the market in 2018, while the services segment is expected to grow at a higher CAGR during the forecast period. Task management software and services are gaining popularity, as they empower enterprises to meet their project management requirements in a cost-effective manner.
Among deployment types, the cloud deployment type is expected to gain more traction during the forecast period, as it offers the agility of on-demand resource deployment and consumption. Organizations prefer the cloud deployment type, as it delivers ease of access along with reduced capital and operational expenses.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. The growing need to reduce operational costs and streamline workflows is expected to drive the adoption of task management software and services among SMEs.
Enterprises in industry verticals such as BFSI, retail and consumer goods, healthcare, IT and telecom, government, real estate and construction, travel and hospitality, media and entertainment, and others (transportation and logistics, automotive, and energy and utilities) are rapidly adopting task management software and services to optimize their workforce utilization. The IT and telecom industry vertical is expected to hold the largest market size during the forecast period, while the retail and consumer goods industry vertical would present prospective opportunities for task management software vendors during the forecast period.
The market has also been segmented into 5 major geographic regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis. North America is expected to hold the largest market size during the forecast period, due to the presence of a large number of vendors in the region. The region is also one of the most advanced in terms of technology adoption and IT infrastructure optimization.
The task management software helps organizations with workforce optimization and project management. Enterprises adopting the task management software usually face security and privacy issues. These enterprises possess confidential data that needs to be protected to avoid data breaches and thefts, as such incidents may affect the reputation of the enterprises. These could be the restraining factors for the growth of the task management software market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Task Management Software Market
4.2 Market By Industry Vertical (2018 vs 2023)
4.3 Market Share Across Major Regions
4.4 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need Among Enterprises to Centrally Manage and Track Tasks
5.2.1.2 Need to Promote Collaboration Among Teams and Improve Workforce Utilization
5.2.2 Restraints
5.2.2.1 Security Concerns Among Enterprises Regarding Cloud-Based Task Management Software
5.2.3 Opportunities
5.2.3.1 Recent Advancements in the Areas of AI and ML
5.2.3.2 Integration of Task Management Software With Other Third-Party Tools
5.2.4 Challenges
5.2.4.1 Presence of Many Open Source Or Free Vendors in the Task Management Software Market
5.2.4.2 Lack of Awareness Among Enterprises About Task Management Software
5.3 Industry Trends
5.3.1 Use Case 1: Meisterlabs
5.3.2 Use Case 2: Quick Base
5.3.3 Use Case 3: Quick Base
6 Task Management Software Market, By Business Function
6.1 Introduction
6.2 Marketing
6.3 Human Resource
6.4 Finance
6.5 Others
7 Market By Component
7.1 Introduction
7.2 Software
7.3 Services
7.3.1 Integration and Implementation
7.3.2 Consulting
7.3.3 Training and Support
8 Task Management Software Market, By Deployment Type
8.1 Introduction
8.2 Cloud
8.3 On-Premises
9 Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises
10 Task Management Software Market, By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Retail and Consumer Goods
10.4 Healthcare
10.5 IT and Telecom
10.6 Government
10.7 Real Estate and Construction
10.8 Travel and Hospitality
10.9 Media and Entertainment
10.10 Others
11 Task Management Software Market, By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.2 Canada
11.3 Europe
11.3.1 United Kingdom
11.3.2 Germany
11.3.3 France
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 Japan
11.4.3 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 South Africa
11.5.4 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Brazil
11.6.2 Mexico
11.6.3 Rest of Latin America
12 Competitive Landscape
12.1 Overview
12.2 Competitive Scenario
12.2.1 New Product Launches/Service Launches/Upgradations
12.2.2 Business Expansions
12.2.3 Acquisitions
12.2.4 Partnerships
13 Company Profiles
13.1 Introduction
13.2 Microsoft
13.3 Upland Software
13.4 Atlassian
13.5 Pivotal Software
13.6 Ringcentral
13.7 Azendoo
13.8 Asana
13.9 Bitrix Inc.
13.10 Doist
13.11 Monday.Com
13.12 Quick Base
13.13 Redbooth
13.14 Todo.Vu
13.15 Teamwork.Com
13.16 Workfront
13.17 Wrike
13.18 Zoho
13.19 Airtable
13.20 Basecamp
13.21 Clarizen
13.22 Evernote Corporation
13.23 Inflectra
13.24 Meisterlabs
13.25 Smartsheet
13.26 Timecamp
For more information about this report visit https://www.researchandmarkets.com/research/lxr4fl/global_task?w=5
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