TOKYO, Jan. 02, 2023 (GLOBE NEWSWIRE) — The Global Productivity Management Software Market The size is valued at USD 47.4 billion in 2021 and is expected to occupy a market size of USD 157.7 billion by 2030, growing at a CAGR of 14.4% from 2022 to 2030.
Productivity management software (PMS) is a set of applications that monitors employee behavior and collects data for performance improvement. According to statistics from Achievers.com, only 21% of the American workforce is highly engaged in their work. These highly engaged employees are those who produce quality work at an impressive rate for their company – or who are productive. As the world adapts to new ways of living and working, increasing productivity is the toughest challenge facing organizations worldwide. Employers are finding it harder to maintain employee productivity due to the hybrid work model and an ever-changing enterprise technology stack. This is where productivity management software platforms come in.
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Productivity Management Software Market Report cover:
|Market||Productivity Management Software Market|
|Productivity Management Software Market Size 2021||$47.4 billion|
|Productivity Management Software Market Forecast 2030||$157.7 billion|
|Productivity Management Software Market CAGR During 2022 – 2030||14.4%|
|Productivity Management Software Market Analysis period||2018 – 2030|
|Productivity Management Software Market base year||2021|
|Productivity Management Software Market Forecast data||2022 – 2030|
|Segments Covered||By solution, by deployment, by company size and by geography|
|Productivity Management Software Market Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Adobe, Google LLC, HyperOffice, IBM Corporation, Microsoft, Monday.com, Oracle, Salesforce.com, Inc., Slack Technologies, Inc. and Zoho Corporation Pvt. ltd.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Productivity Management Software (PMS) Market Statistics
- The global productivity management software market revenue is valued at USD 47.4 billion in 2021, growing at a CAGR of 14.4% from 2022 to 2030
- North American Employee Recognition Software Market Share Grows 36% in 2021
- Asia-Pacific social productivity management software market growth is expected to reach around 16% CAGR from 2022 to 2030
- By solution, the content management and collaboration sub-segment grabbed $16.6 billion in market revenue in 2021
- Based on deployment, the cloud-based sub-segment collected $25.6 billion in revenue in 2021
- Growing adoption of BYOD is a key trend in the productivity management software industry
PMS Productivity Management Software Market Dynamics
The growing number of unproductive or disengaged employees is one of the major concerns driving the market value of productivity management software. According to a Gallup study, disengaged employees cost their company more than 34% of their salary. According to Gallup’s State of the Global Workplace report, only 21% of employees are engaged at work, while 33% thrive in their overall wellbeing. The global COVID-19 pandemic has also had an impact on this. For example, Europe and South Asia (which includes India) lost 5 percentage points in happiness in 2021, with South Asia having the lowest happiness rate in the world at 11%. As a result, companies around the world are implementing productivity management solutions to quickly assess the performance of disengaged employees and devise strategies to improve their engagement in the organization.
Factors such as increased technological advancements are also driving the market. For example, the growing use of mobile technology and the rapid adoption of bring your own device (BYOD) are complementing the growth of the market and will continue to do so in the coming years. For example, as computing becomes more consumer-oriented, the use of mobile devices such as smartphones, laptops, tablets, and computing devices for communication has become commonplace in businesses. There has also been a significant demand for productivity solutions due to the increase in employee data. However, the high cost of these platforms, along with a lack of awareness of these solutions in emerging markets, has stifled market growth. Furthermore, increasing penetration of cutting-edge technologies such as artificial intelligence and machine learning is expected to support the growth of the market in the coming years, providing the industry with plenty of opportunities.
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PMS Productivity Management Software Market Segmentation
The global market has been divided into solution, deployment, enterprise size and by region.
The solutions segment is further categorized into content management and collaboration, AI and predictive analytics, structured work management and other solutions. Based on deployment, the industry is divided into cloud and on-premises. By company size, the segmentation includes large companies and SMEs. Further, the regional segmentation includes Europe, North America, Latin America, Asia-Pacific, Middle East and Africa.
Productivity management software market share
According to our analysis of the productivity management software industry, the content management and collaboration solution achieved most of the industry share in 2021. This segment is also expected to continue its dominant trend in the coming years. coming. However, Artificial Intelligence and Predictive Analytics is a segment that is likely to dominate the market with an impressive growth rate over the forecasted years from 2022 to 2030.
According to our PMS Market forecast, Cloud-Based sub-segment generated maximum revenue across Deployment Model segment while On-Premise registered substantial growth rate (CAGR) from 2022 to 2030 Based on enterprise size segment, large enterprises gained slightly more market share than SMEs. The increasing adoption of these solutions in large enterprises due to the presence of a large number of employees will support this business size segment. However, the market scenario is expected to change in the coming years owing to the growing base of SMEs globally.
Regional Outlook of the Productivity Management Software Market
According to our regional analysis, the North America region earned the most money in 2021 and is expected to maintain its lead throughout the forecast period. North America has been dominating the PMS market due to obvious reasons such as increased penetration of advanced technologies, increased productivity awareness and presence of key players along with numerous sectors of technology, healthcare and banking in the region.
In terms of growth, the Asia-Pacific region has gained a better grip due to the increase in the labor force in the region. In addition to this, the presence of large manufacturing units in economies such as China, India, Japan and others is encouraging greater adoption of productivity management software in the APAC region.
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Productivity Management Software Market Players
Some of the top productivity management software companies covered in the industry include Adobe, Google LLC, HyperOffice, IBM Corporation, Microsoft, Monday.com, Oracle, Salesforce.com, Inc., Slack Technologies, Inc. and Zoho Corporation Pvt. ltd.
Questions this report answers
- What was the market size of Productivity Management Software Market in 2021?
- What will be the CAGR of the Productivity Management Software Market during the forecast period, 2022 to 2030?
- Who are the key players in the Global Productivity Management Software Market?
- Which region held the largest productivity management software market share in 2021?
- What are the key market drivers of Productivity Management Software Market?
- Who is the largest end user productivity management software market?
- What will the Productivity Management Software Market be worth in 2030?
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