Market Size –
The productivity software market size has grown rapidly in recent years. It will grow from $55.96 billion in 2023 to $64.93 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to the demand for efficiency and time management, the emergence of early software, rising expectations for user-friendly interfaces, the rise of knowledge work, and globalization and remote work.
The productivity software market size is expected to see rapid growth in the next few years. It will grow to $118.11 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to increased focus on employee well-being, growth of hybrid work models, increasing demand for productivity software, growing emphasis on ethical data handling, and integration with artificial intelligence (AI). Major trends in the forecast period include augmented reality (AR) and virtual reality (VR) integration, unified collaboration platforms, blockchain integration for data security, mobile-first design, and integration with IoT devices.
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Scope Of Productivity Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Productivity Software Market Overview
Market Drivers –
The rise of remote workers is expected to propel the growth of the productivity software market. Remote workers are individuals who perform their job responsibilities outside of a traditional office environment, often from a location of their choice, such as their home, a co-working space, or another remote location. Remote workers are increasing due to advancements in technology, changing attitudes towards work-life balance, and the global pandemic accelerating the adoption of flexible work arrangements. Productivity software empowers remote workers to collaborate effectively, manage their tasks efficiently, and maintain productivity regardless of their physical location. For instance, in September 2022, according to a news article published by the Census Bureau, a US-based government statistical agency, in 2021, the number of people primarily working from home tripled from 5.7% to approximately 27.6 million people, comprising 17.9% of the workforce. Therefore, the rise of remote workers is driving the growth of the productivity software market.
Market Trends –
Major companies operating in the productivity software market are focused on developing innovative solutions, such as warehouse productivity software, to enhance operational efficiency and streamline processes in various industries. Warehouse productivity software is a specialized application designed to enhance the efficiency and effectiveness of warehouse operations. It streamlines tasks such as inventory management, order fulfillment, shipping, and receiving by automating processes and providing real-time data insights. For instance, in March 2024, JLT Mobile Computers AB, a Sweden-based computer manufacturing company, launched JLT Insights warehouse productivity software to help warehouse operators. The software uses real-time data from sensors embedded in JLT’s rugged JLT6012 Series of forklift-mounted computers to capture operational data, which can be compared, contextualized, displayed, and shared via an intuitive dashboard on various devices. This allows warehouse managers to eliminate problems before they occur and make data-driven decisions to boost efficiency.
The productivity software market covered in this report is segmented –
1) By Type: Cloud-Based, On-Premises
2) By Solutions: Content Management, Collaboration, Asset Creation, Artificial Intelligence, Predictive Analytics, Structured Work Management, Connectivity, Integration Services, Technical Support, Other Solutions
3) By Application: Small And Medium Enterprises, Large Enterprises
4) By End-User: Banking, Financial Services, and Insurance, Government And Public Sector, Healthcare, Retail, Manufacturing, Information Technology And Telecom, Other End-Users
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Regional Insights –
North America was the largest region in the productivity software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the productivity software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the productivity software market are Apple Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce.com Inc., Adobe Inc., Zoom Video Communications Inc., Atlassian Corporation Plc, Dropbox Inc., Slack Technologies Inc., Smartsheet Inc., Monday.com Ltd., Notion Labs Inc., Asana Inc., Wrike Inc., Airtable Inc., Kdan Mobile Software Ltd., Evernote Corporation, Zoho Corporation Pvt. Ltd., Trello Inc., OffiDocs Group OU, iDoneThis Inc., Statdash LLC, ProofHub LLC
Table of Contents
1. Executive Summary
2. Productivity Software Market Report Structure
3. Productivity Software Market Trends And Strategies
4. Productivity Software Market – Macro Economic Scenario
5. Productivity Software Market Size And Growth
…..
27. Productivity Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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