The change management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Change Management Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The change management software market size has grown rapidly in recent years. It will grow from $1.80 billion in 2023 to $2.01 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to the rise in growth of the IT and telecommunication sector, increasing complexity of business operations, increasing globalization, regulatory requirements, and growing focus on employee engagement.
The change management software market size is expected to see rapid growth in the next few years. It will grow to $3.20 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to growing demand for cloud-based solutions, increasing need for remote work collaboration tools, rising adoption of agile methodologies, emphasis on digital transformation initiatives, and growing internet facilities with advanced speed. Major trends in the forecast period include AI-driven change management, focus on employee engagement, integration with collaboration tools, emphasis on data analytics, and agile methodologies adoption.
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Scope Of Change Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Change Management Software Market Overview
Market Drivers –
The increase in cyberattacks on businesses is expected to propel the change management software market going forward. Cyber-attacks refer to malicious attempts to disrupt, damage, or gain unauthorized access to computer systems, networks, or data. The increase in cyberattacks on businesses is primarily due to the growing reliance on digital technologies, the expanding attack surface, and the evolving sophistication of cybercriminal tactics. Change management software enables organizations to conduct risk assessments and evaluations of proposed IT systems and infrastructure changes by providing risk mitigation strategies, such as testing, validation, and rollback procedures. For instance, according to the Federal Bureau of Investigation, a US-based law enforcement agency, complaints about business investment fraud increased by 127%, from $1.45 billion in 2021 to $3.31 billion in 2022. Further, there were 183% more charges of bitcoin investment fraud, from $907 million in 2021 to $2.57 billion in 2022. Therefore, the increase in cyberattacks on businesses is driving the growth of the change management software market.
Market Trends –
Major companies operating in the chatbots for mental health and therapy market are focusing on developing advanced solutions with the integration of technological solutions, such as state-of-the-art natural language processing algorithms, to gain a competitive edge in the market. NLP algorithms enable mental health chatbots to comprehend, empathize, and communicate effectively with users, resulting in more natural, personalized, and supportive interactions that aid in mental health care and therapy. For instance, in July 2023, TalkThru, a US-based professional therapy digitally accessible platform, launched an AI therapist, an advanced mental health chatbot. It uses innovative natural language processing algorithms, allowing it to engage in sensitive and meaningful interactions with users. By using AI therapist, individuals may enjoy private and confidential treatment sessions whenever and wherever they want. This solution provides 24/7 accessibility, personalized support, and reduces stigma. It’s user-friendly design allows people to easily understand the platform and participate in therapeutic sessions, making mental health support more accessible and effective.
The change management software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Type: On-Premise, Cloud-Based
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprise
4) By End Use Industry: Banking, Financial Services, And Insurance (BFSI), Healthcare And Life Sciences, Education, Government And Public Sector, Telecom And IT (Information Technology), Retail And Consumer Packaged Goods, Other End Use Industries
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Regional Insights –
North America was the largest region in the change management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the change management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the change management software market are Microsoft Corporation, Microsoft Corporation, IBM Corporation, Broadcom Inc., Sunview Software, ServiceNow Inc., BMC Software Inc., Micro Focus International plc, Zoho Corporation, Solarwinds Worldwide LLC, Ivanti, Freshworks, Sparta Systems Inc., Chef Software, The Puppet Company, Whatfix, Cherwell Software LLC, EasyVista Inc., CA Technologies Inc., Integrify, Axios Systems plc, OMNINET, SysAid Technologies Ltd., NetZoom Inc., Cognician, Pointel, Canfigure, ideas4all Innovation, Kinvey Inc., The Change Compass
Table of Contents
- Executive Summary
- Change Management Software Market Report Structure
- Change Management Software Market Trends And Strategies
- Change Management Software Market – Macro Economic Scenario
- Change Management Software Market Size And Growth
…..
- Change Management Software Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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