A Look into Productivity Management Software Industry……Deep Analysis…..Posted by Mrudula Anil Karmarkar on February 12th, 2021 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. 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 2020, 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. Productivity Management Software Market Report Highlights
Productivity management software caters to various industry verticals such as IT and telecom, BFSI, healthcare, retail, manufacturing, media and entertainment, and others. Rising demand for productivity management software across industries such as BFSI, IT and telecom, retail, and healthcare across the developed and emerging economies, are expected to drive the market growth. The increased use of productivity management software to manage and monitor work processes would aid in achieving quicker turnarounds, resource efficiency, reduced cost, and faster processes across multiple industry verticals. In recent times, the companies are providing new services, product updates, and more personalized experience to their customers. However, the companies are caught up in growing pressure to deliver the latest and faster solutions and services in the hands of increasingly demanding consumers. Employees in organizations worldwide spend significant portions of their day on low-value tasks that require little human resourcefulness and lower productivity. The lack of work engagement cost companies an estimated USD 7 trillion in lost productivity in 2017 around the world. Productivity management software relies on the power of automation to speed up processes and reduce the mundane activities of the employees and induce productivity. The novel COVID-19 pandemic has impacted the workflow and team communication in organizations of various sizes. Rising acceptance of work from home policies by various organizations and the need to manage their teams remotely has increased the need for remote work management. Owing to the remote work management, the need for digitization has grown immensely. Productivity management software has been critical in allowing workers and businesses to achieve workflow continuity. Collaboration software from Microsoft Teams, Cisco Webex, Slack, and Zoom collaboration technology has proved to be especially helpful for the organizations to maintain workflow and improve the productivity inside the organization. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450816/ibb The key players that dominated the global market in 2020 include Google LLC; Microsoft; Salesforce.com, Inc.; Slack Technologies, Inc.; and Adobe. These players offer multiple ranges of productivity management software solutions and cater to industries such as BFSI, IT and telecom, healthcare, retail, and others. The companies are stressing on providing content management and collaborations, workflow management, task management, AI, and predictive analytics software solutions to offer high productivity and better customer experience. New product launches and upgrades in the existing software solutions have remained the key strategies of the participants. For instance, in June 2020, Slack Technologies, Inc. announced a strategic partnership with Amazon Web Services to build deep integrations between Amazon AppFlow and AWS Chatbot. AWS will implement Slack organization-wide to streamline team communication. In April 2020, Microsoft announced it would rename its productivity software solution Office 365 to Microsoft 365. The company also announced no changes in the subscription plans. The company’s productivity solution Office 365 currently has more than 200 million commercial monthly active users and 38 million consumer subscribers globally. Some of the prominent players in the productivity management software market include:
Grand View Research has segmented the global productivity management software market on the basis of solution, deployment type, enterprise type: Productivity Management Software Solution Outlook (Revenue, USD Billion, 2016 - 2027)
Productivity Management Software Deployment Type Outlook (Revenue, USD Billion, 2016 - 2027)
Productivity Management Software Enterprise Type Outlook (Revenue, USD Billion, 2016 - 2027)
About Grand View Research 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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |