Productivity Management Software Market Size, Share & Trends Report

Productivity Management Software Market Size, Share & Trends Analysis Report By Solution (Content Management & Collaboration, AI & Predictive Analytics), By Deployment, By Enterprise, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-962-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 110

Report Overview

The global productivity management software market size was valued at USD 45.81 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 13.4% from 2020 to 2027. The increasing need to manage workflow and tasks among the business to augment the growth, rapidly growing advancements in the area of Artificial Intelligence (AI) and Machine Learning (ML) are the major factors driving the market growth. Besides, increasing adoption of cloud computing in the business processes and the growing adoption of Bring Your Own Device (BYOD), enterprise mobility, and smartphones to expand the mobile workforce will surge the demand for productivity management software. Business productivity is an organization's ability to execute the overall strategy in an organization successfully. Moreover, the productivity of an organization is directly related to the productivity of its workforce. The productivity management software facilitates and integrates both data as well as processes for every aspect of the business. It also plays a vital role in providing collaboration with employees, customers, clients, suppliers, and vendors.

U.S. productivity management software market size

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.

Solution Insights

The content management and collaboration segment accounted for the largest revenue share of around 35.5% in 2019. The segment includes communication, project and task management, file sharing, and management, among others. The content management and collaboration software create working together on professional projects more accessible and faster, and it reduces the bottleneck in approval and feedback processes. The solution makes it easier to get work done by bringing context, content, and communications in a single place supporting the growth for the segment.

The AI and predictive analytics segment is projected to expand at a CAGR of 14.8% from 2020 to 2027. The segment includes software that uses AI, machine learning, statistical algorithms, and data mining techniques. 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 AI and predictive analytics segment can be attributed to the higher adoption of various risk analytics solutions for risk mitigation measures and risk identification.

Deployment Type Insights

The cloud segment accounted for the largest revenue share of around 56.8% in 2019. The cloud-based productivity management software solutions provide the organization mobility, remote connectivity, reliable and secure storage of data and information, and easy and immediate access to the files and data. The data-driven business organizations have immense data at their disposal. The cloud-based software helps the organization to systematically manage and access the data. Moreover, an increasing need for secure and critical data would drive the segment growth.

The on-premise deployment segment is estimated to register a significant CAGR of 6.5% from 2020 to 2027. The on-premise deployment of productivity management software has a considerable amount of revenue share, and it is attributed to the large enterprises using the on-premise deployment of productivity management software. The cost of an on-premise solution can be very high at the initial point, but it provides a benefit of lower operating costs for a longer-term. Moreover, security concerns in cloud deployment for organizations drive the segment growth.

Enterprise Type Insights

The large enterprise segment accounted for the largest revenue share of around 52.0% in 2019. Productivity Management Software enables organizations to offload mundane tasks to technology that can complete them more efficiently. Thus, increasing adoption in large enterprises to ease the operation process is estimated to support the segment growth. Besides, the rising number of large enterprises across the developed and emerging economies will surge the demand for productivity management software over the forecast period. 

Global productivity management software market share

The Small and Mid-size Enterprises (SMEs) segment is projected to expand at the highest CAGR of 18.3% over the forecast period. Productivity management software helps SMEs improve costs, remove repetitive tasks, prioritize work, and improve collaboration among teams. The growth can be attributed to the increasing number of SMEs in emerging countries, such as China and India. Moreover, increased demand for productivity management software solutions among SMEs to simplify workflow and decrease operational cost is expected to propel the market growth.

Regional Insights

The North America region accounted for the largest revenue share of around 39% in 2019 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 Oracle, Salesforce, Microsoft Corporation, IBM, Adobe, and Google. The growth in the region is mainly attributed to the increased adoption of productivity management software solutions to manage the 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.

The Asia Pacific productivity management software market is projected to expand at the highest CAGR of 14.9% from 2020 to 2027. The growing industry verticals such as Healthcare, IT and telecom, BFSI, others are expected to support regional growth. Besides, the increasing number of small and mid-size enterprises in the regions will also boost the growth of the market over the forecast period.

Key Companies & Market Share Insights

The key players that dominated the global market in 2019 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:

  • Google LLC

  • Microsoft

  • Salesforce.com, Inc.

  • Slack Technologies, Inc.

  • Monday.com

  • IBM Corporation

  • Oracle

  • Zoho Corporation Pvt. Ltd.

  • Adobe

  • HyperOffice

Productivity Management Software Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 42.62 billion

Revenue forecast in 2027

USD 102.98 billion

Growth Rate

CAGR of 13.4% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative Units

Revenue in USD billion and CAGR from 2020 to 2027

Report coverage

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

Segments Covered

Solution, deployment type, enterprise type, region

Regional scope

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

Country scope

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

Key companies profiled

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

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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 2016 to 2027. For this study, Grand View Research has segmented the global productivity management software market report by solution, deployment type, enterprise type, and region:

  • Solution Outlook (Revenue, USD Billion, 2016 - 2027)

    • Content Management & Collaboration

    • AI & Predictive Analytics

    • Structured Work Management

    • Other Solutions

  • Deployment Type Outlook (Revenue, USD Billion, 2016 - 2027)

    • On-Premise

    • Cloud

  • Enterprise Type Outlook (Revenue, USD Billion, 2016 - 2027)

    • Small & Mid-Size Enterprises (SMEs)

    • Large Enterprises

  • Regional Outlook (Revenue, USD Billion, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • The Middle East and Africa

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