Productivity Management Software Market Size, Share & Trends Report

Productivity Management Software Market Size, Share & Trends Analysis Report By Deployment (On-premise, Cloud), By Enterprise (Large Enterprise, SME), By Solution, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68038-962-3
  • Format: Electronic (PDF)
  • Historical Data: 2018 - 2019
  • Number of Pages: 112

Report Overview

The global productivity management software market size was valued at USD 42.62 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.2% from 2021 to 2028. The rising need to manage tasks and workflow among the business and swiftly growing advancements in the area of Machine Learning (ML) and Artificial Intelligence (AI) are the key factors driving the market growth. Furthermore, the growing adoption of cloud computing in the business processes and the increasing adoption of enterprise mobility, smartphones, and Bring Your Own Device (BYOD) to expand the mobile workforce will surge the demand for productivity management software (PMS) solutions. The COVID-19 crisis has impacted the workflow and team communication in businesses of different sizes across the world.

U.S. productivity management software market size, by solution, 2018 - 2028 (USD Billion)

Like many other businesses and markets, the PMS market was also affected by the pandemic for the short term. The demand for PMS slowed down due to lockdowns implemented in various major countries. However, increasing acceptance of ‘work-from-home policies by several organizations worldwide and the necessity to manage their teams remotely have augmented the requirement for remote work management. Due to remote work management, the need for digitization has grown enormously.

PMS has been critical in permitting businesses and workers to achieve workflow continuity. Collaboration software from Zoom, Slack, Cisco Webex, and Microsoft Teams collaboration technology has proved to be particularly helpful for businesses to improve productivity and maintain workflow inside the organization. The Post-COVID-19 era is expected to be particularly liberal pertaining to the growth of the market.

Organizations have been looking for new ways to boost productivity. New approaches and technology have helped deliver products and services more efficiently and effectively than in the past few years. Productivity growth is critical for companies because delivering more products and services to customers results in high income. When productivity rises, an organization's capital can be converted into sales, allowing it to compensate stakeholders while still preserving cash flow for potential development and expansion.

Higher productivity also assists in gaining a competitive advantage over the competitors. Companies are focusing on reducing their operational expenses to gain high profits, and improved productivity helps them achieve their profitability goals. Organizations are currently looking towards investing in technology-oriented solutions, such as PMS, which would offer them centralized productivity management solutions to improve the working environment and reduce costs.

Operational efficiency is mainly a metric that assesses a company’s profitability as a function of its operating costs. The more profitable a company or investment is, the more efficient its operations are. The comparison of productivity and operational efficiencies can also provide a look at the economies of scale. Entities strive to achieve productive economies of scale to lower per-unit costs and boost per-unit returns. Executives are concerned with increasing performance, which is a focus of many technology initiatives and implementations.

Efficiency, small business sales, internal processes, procurement, pricing, and business principles are considered transparent business practices. Increased transparency in the business also helps improve the overall operational efficiency of the organizations, for which, the employees’ productivity is a key parameter. Adopting technology-based solutions could help organizations overcome problems associated with operational efficiency and transparency, thus offering greater returns in terms of revenues. Hence, these factors are likely to fuel market growth in the coming years.

Solution Insights

The content management & collaboration segment dominated the market in 2020 and accounted for more than 35% of the global revenue share. The segment includes workflow management, file sharing, task and project management, and communication, among others. The content management and collaboration software makes working together on professional projects faster &easier and it reduces the bottleneck in feedback and approval processes. The solution makes it easier to get work done by bringing communications, content, and context in a single place supporting the growth of the segment.

The AI and predictive analytics segment is anticipated to exhibit the highest CAGR over the forecast period. The segment includes software that uses data mining techniques, statistical algorithms, machine learning, and AI. This software makes an in-depth analysis of current data to identify patterns in historical events and helps the company to transform data into predictive insights and to maximize the productivity of the organization. The growth of the segment can be attributed to the higher adoption of several risk analytics solutions for risk identification and risk mitigation measures.

Deployment Insights

The cloud deployment segment dominated the market in 2020 and accounted for more than 58% of the global revenue share. Based on deployment, the market is bifurcated into on-premise and cloud. Enterprises are concerned about the costs of data hosting on-premises, both in terms of deployment and maintenance. The current competitive environment and global economic conditions have intensified the implementation of cost-effective business model restructuring steps. Another factor driving the adoption of cloud-based solutions is the growing shift of businesses toward digital transformation and accelerating customer engagement, both of which lower enterprise costs.

Furthermore, 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. The on-premise segment is also expected to register a significant CAGR during the forecast period. The segment growth is attributed to the wide usage of the on-premise deployment method in large enterprises. Although the initial costs of an on-premise solution can be high, it offers the benefit of lower operating costs for the longer term. Furthermore, data safety and security concerns in cloud deployment drive the demand for on-premise deployment, thereby supporting segment growth.

Enterprise Insights

The Small & Medium Enterprise (SME)segment dominated the market in 2020 accounting for more than 50.0% of the global revenue share. On the basis of enterprise, the market has been segmented into large enterprise and SME. PMS enables businesses to offload unproductive and repetitive tasks to technology that can complete them more efficiently.

Global productivity management software market share, by enterprise, 2020 (%)

Therefore, its growing adoption in SMEs to ease the operation process is projected to support the segment growth. Moreover, the increasing number of small & medium enterprises across the emerging, as well as developed, economies are expected to boost the demand for PMS solutions over the forecast period. The SME segment is also anticipated to exhibit the highest CAGR of more than 18% over the forecast period retaining its leading market position. Productivity management software helps SMEs improve costs, prioritize work, and improve collaboration among teams.

Regional Insights

North America accounted for the largest revenue share of more than 39% in 2020 and is anticipated to continue its dominance over the forecast period. The region is projected to hold the dominant share throughout the forecast period owing to the presence of key companies, such as Salesforce, Oracle, IBMCorp., and Google. The growth in the region is also attributed to the increased adoption of PMS solutions to manage mundane tasks and highly evolving infrastructure in the organizations. Moreover, the increased adoption of technologies, such as AI and machine learning, would leverage the market growth in the upcoming years.

Asia Pacific is projected to be the fastest-growing regional market from 2021 to 2028. The rapidly expanding industry sectors, such as Healthcare, IT & telecom, and BFSI, in the region, are expected to support the market growth. In addition, the increasing number of SMEs in this region will boost the growth of the market over the forecast period.

Key Companies & Market Share Insights

Key players offer multiple ranges of PMS solutions and cater to industries, such as BFSI, IT and telecom, healthcare, retail, and others. The companies are focusing 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. formed 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 renamed its productivity software solution Office 365 to Microsoft 365. The company also announced no changes in the subscription plans. Some of the prominent players in the global productivity management software market include:

  • Google LLC

  • Microsoft

  • Salesforce.com, Inc.

  • Slack Technologies, Inc.

  • Monday.com

  • IBM Corporation

  • Oracle

  • Zoho Corp. Pvt. Ltd.

  • Adobe

  • HyperOffice

Productivity Management Software Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 47.33 billion

Revenue forecast in 2028

USD 119.69 billion

Growth rate

CAGR of 14.2% from 2021 to 2028

Base year for estimation

2020

Historical data

2018 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Solution, deployment, enterprise, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East &Africa

Country scope

U.S.; Canada; U.K.; Germany; France; China; Japan; India; Brazil; Mexico

Key companies profiled

Google LLC; Microsoft; Salesforce.com, Inc.; Slack Technologies, Inc.; Monday.com; IBM Corp.; Oracle; Zoho Corp. Pvt. Ltd.; Adobe; HyperOffice

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For the purpose of this study, Grand View Research has segmented the global productivity management software market report on the basis of solution, deployment, enterprise, and region:

  • Solution Outlook (Revenue, USD Billion, 2018 - 2028)

    • Content Management & Collaboration

    • AI & Predictive Analytics

    • Structured Work Management

    • Other Solutions

  • Deployment Outlook (Revenue, USD Billion, 2018 - 2028)

    • On-premise

    • Cloud

  • Enterprise Outlook (Revenue, USD Billion, 2018 - 2028)

    • Large Enterprise

    • Small & Medium Enterprise

  • Regional Outlook (Revenue, USD Billion, 2018 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

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