Global Demand for Productivity Management Software to Reach Nearly US$ 193 Billion in 2032, Fact.MR Report

NEW YORK, March 2, 2022 /PRNewswire/ -- A recently published report by Fact.MR anticipates that the global productivity management software market is forecast to accumulate a value of US$ 53.44 Billion by the end of 2022. Until 2032, the market is poised to witness a CAGR of 13.7%.

With the world transitioning towards remote working since the COVID-19 pandemic, there has been extensive emphasis on enhancing workflow productivity through remote monitoring systems. Investing in digital productivity management software has enabled enterprises prioritize tasks and align resources accordingly. Since resource planning is vital for ensuring a smooth flow of project management, businesses are investing in robust productivity management platforms.

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With the abundant amount of data created by businesses, it is becoming increasingly necessary for businesses to adopt better data management procedures, causing the market to grow. It serves to enhance cloud computing and to improve customer, supplier, employee, and customer collaboration.

Through the use of Business Productivity Software, groups can coordinate work more effectively since they can access data from any location and at any time; and business can be conducted continuously from anywhere in the world. 

Key Takeaways

• By 2022, the global productivity management software market is expected to reach US$ 53.44 Bn.
• The demand for productivity management software increased by 11% between 2017 and 2021.
• Over the forecast period, North America is expected to account for around 36% of global revenue.
• Asia Pacific's productivity management software market is expected to grow at a CAGR of 15.5% from 2022 to 2032.
• Performance management software for SMEs are predicted to exhibit the highest CAGR of 18.7%.
• At over 56% in 2022, the cloud-based PMS segment is projected to hold the largest share of revenue.
• The CAGR of on-premise deployment is forecast to reach over 7% during the forecast period.

Growth Drivers

• Extensive adoption of remote working across key regions in the wake of the pandemic crisis has increased the need to monitor individual productivity. This has led to increased installation rates of PMS platforms
• Copious amounts of data generation, assimilation and analysis across key business domains is necessitating uptake of productivity management platforms to ease out workflows

Key Restraints

• Frequent disruptions in internet connectivity may disrupt critical workflow, acting as a significant challenge to market growth

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Competitive Landscape

To improve productivity and customer experience, vendors focus on improving content management, workflow management, task management, artificial intelligence, and predictive analytics software solutions. The main strategy of participants is to launch new products and update existing software solutions.

• In June 2020, Slack Technologies and Amazon Web Services announced their partnership, which will enable deep integration between Amazon AppFlow and AWS Chatbot.
• In April 2020, Microsoft announced it would rename its productivity software solution Office 365 to Microsoft 365.
• In August 2020, Monday.com signed a partnership agreement with Xertica, a leading cloud computing consulting firm in Latin America. The partnership was intended to help companies become more competitive by enabling them to achieve their goals with their remote teams.

Key Companies Profiled by Fact.MR

• Google LLC
• Microsoft Corporation
• IBM Corporation
• Oracle Corporation
• Adobe Inc.
• Salesforce
• Zoho Corporation Private Limited
• Slack Technologies LLC
• Monday.com

More Valuable Insights on Productivity Management Software Market

Fact.MR, in its report, offers a market analysis of the global productivity management software market analyzing forecast period through 2022 and beyond. This survey reveals the growth of technology in the productivity management software market with detailed segmentation as follows:

• By Solution
• Structured Work Management
• AI & Predictive Analytics
• Content Management & Collaboration
• By Deployment
• Cloud
• On-Premise
• By Enterprise
• Small & Mid-Size Enterprises
• Large Enterprises

• By Region
• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa

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Key Questions Covered in the Productivity Management Software Market Report

• What is the global productivity management software market scenario?
• How far is the global demand expected to reach over the forecasted period?
• What was the last 5-year CAGR for the demand in the demand in the productivity management software market?
• Who are the prominent players in the global productivity management software market?
• Which is the most leading region in the productivity management software market?

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SOURCE Fact.MR

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