USD 98.39 Billion Growth in Business Productivity Software Market Size with 44% Contribution from North America – Increasing Requirements For Large-scale Business Portfolio Management to Boost Market Growth – Technavio
NEW YORK, Aug. 18, 2022 /PRNewswire/ — The “Business Productivity Software Market Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the business productivity software market between 2021 and 2026 is USD 98.39 billion, as per the latest market analysis report by Technavio, The report predicts the market to witness an accelerating growth momentum at a CAGR of 14.24%. Technavio categorizes the global business productivity software market as a part of the global application software market. Our report provides extensive information on the value chain analysis for the business productivity software market, which vendors can leverage to gain a competitive advantage during the forecast period. The market growth is anticipated to witness considerable growth during the forecast period due to factors including the increasing requirements for large-scale business portfolio management and the rising adoption of automatic updating and enhancing coherency in business operations. However, cybersecurity-related threats are one of the challenges limiting the business productivity software market growth.
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Key Market Segment Insights
The business productivity software market report is segmented by Type (Large enterprises and SMEs) and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
Regional Opportunities: North America will be the leading region with 44% of the market’s growth during the forecast period. The US is the key market for the business productivity software market in North America. Market growth in this region will be faster than the growth of the market in other regions. The strong existence and penetration of the top vendors will propel the business productivity software market growth in North America over the forecast period.
Revenue-generating Segment Highlights: The business productivity software market share growth by the large enterprises segment will be significant during the forecast period. The main factor that drives the growth of the large enterprises segment is the increasing demand for productivity and resource management across the enterprise value chain for a diverse set of industries such as manufacturing, logistics, banking, and finance. Also, the large enterprises’ sector is being continuously penetrated by the need for digitization. This, in turn, will increase the adoption of business productivity software by large enterprises during the forecast period.
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The business productivity software market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The business productivity software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Some Companies Mentioned with their Offerings
- Alphabet Inc.: The company offers business productivity software such as drive, docs, sheets, slides, and forms that are compatible with various platforms.
- Amazon.com Inc.: The company offers business productivity software such as Honeycode, Chime, and WorkDocs for managing productivity, meetings, and collaboration.
- AppScale Systems Inc.: The company offers business productivity software such as an independent AWS cloud for a range of applications including computation, storage, networking, and administration.
- Microsoft Corp.: The company offers business productivity software such as Office 365 that offers a suite of intelligent tools including teams, outlook, word, excel, and PowerPoint with cloud services and security.
- Broadcom Inc.: The company offers business productivity software such as infrastructure software and security software that enables scalability, agility, and security.
- Application Corp.
- Adobe Inc.
- monday.com Ltd.
- Asana Inc.
- Atlassian Corp. Plc
- Basecamp LLC
- Cisco Systems Inc.
- Expensify Inc.
- Fallacy Labs Inc.
- Freshworks Inc.
- International Business Machines Corp.
- Oracle Corp.
- Salesforce.com Inc.
- SAP SE
- VMware Inc.
- Zoho Corp. Pvt. Ltd.
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Business Productivity Software Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 14.24%
Market growth 2022-2026
$ 98.39 billion
YoY growth (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 44%
Key consumer countries
US, China, Japan, UK, and Germany
Leading companies, competitive strategies, consumer engagement scope
Adobe Inc., Alphabet Inc., Amazon.com Inc., Application Corp., AppScale Systems Inc., Asana Inc., Atlassian Corp. Plc, Basecamp LLC, Broadcom Inc., Cisco Systems Inc., Expensify Inc., Fallacy Labs Inc., Freshworks Inc., International Business Machines Corp., Microsoft Corp., monday.com Ltd., Oracle Corp., Salesforce.com Inc., SAP SE, VMware Inc., and Zoho Corp. Pvt. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Type
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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