The global Productivity Management Software Market size is expected to reach USD 149.74 billion by 2030, registering a CAGR of 13.8% over the forecast period, according to a study conducted by Grand View Research, Inc. The digital transformation initiatives that have resulted in improved IT systems to meet customers' diverse requirements, the need to encourage collaboration among teams and increase workforce utilization, and the growing use of advanced technologies such as artificial intelligence, cloud computing, and machine learning are the factors anticipated to drive the growth.
The productivity management software solutions vary
depending upon the parameters, such as employee strength, organizational
structure, and the departments where these solutions are implemented. The
software providers are aggressively focusing on evolving technological trends
and enhancing their software designs in line with the organizations' changing
requirements. Several companies are investing in R&D activities to provide
productivity management software solutions that are easy to deploy and
understand and increase productivity at work. For instance, on 1st March 2021,
Google LLC (U.S.) announced a new version of its Google Workspace productivity
suite named Workspace Frontline, designed especially for the frontline
employees and offers a set of time management tools as a part of it.
Moreover, enterprises are increasingly adopting
cloud-based technology. A growing number of businesses are using cloud-based
management tools to store their applications and data. Cloud-based productivity
management systems make it easier to plan, collaborate, monitor, and complete
projects. Instead of using a plain old whiteboard and sticky notes, project
managers complete work using a network of tools available within the
software-productivity management software (PMS) implementation varies by
organization and team. However, it is intended to make project management and
deadline management more straightforward and more efficient. In addition to
being cost-effective, cloud-based productivity management systems require low
maintenance.
North America is likely to be the prominent region in
the market for productivity management software. The region held the leading
revenue share of over 35% in 2021 and is projected to continue its dominance
from 2022 to 2030. The growth of the regional market is predominantly
attributed to the improved adoption of PMS solutions to manage repetitive tasks
and the organizations' extremely developing infrastructure. Furthermore, the
amplified adoption of machine learning and AI technologies would contribute to
the growth of the market over the forecast period.
Related Press Release@ Productivity Management Software Market Report
Productivity Management Software
Market Report Highlights
- The AI and predictive analytics segment is anticipated to witness
the fastest growth over the forecast period. The growth can be attributed
to the higher adoption of several risk analytics solutions for risk
identification and risk mitigation measures
- The cloud segment is anticipated to register the fastest growth
from 2022 to 2030. The cloud provides the pay-as-you-go model, allowing
businesses to pay for cloud services based on how much they use them,
resulting in lower costs
- Asia Pacific is projected to account for the majority market share
and is expected to reach USD 35.96 billion by 2030. The growing industry
verticals such as healthcare, IT and telecom, BFSI, and others are
expected to support regional growth. The increasing number of small and
mid-size enterprises in the region will also boost the growth of the
market over the forecast period
- Some of the prominent participants in the industry are Google LLC;
Microsoft; Salesforce.com, Inc.; Slack Technologies, Inc.; and Adobe
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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