PUBLISHER: The Business Research Company | PRODUCT CODE: 1435509
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435509
Productivity software encompasses a category of application programs designed to streamline work processes and enhance overall productivity.
The primary applications of productivity software include usage tracking, license management, advanced reporting, and others. License management involves the centralized administration of software licenses throughout an organization. A software license, a legal document established by software publishers or distributors, outlines the rules and guidelines for the use and distribution of the software. End users from various sectors, including BFSI, manufacturing, telecommunications, media and entertainment, transportation, and retail, deploy the software through both cloud-based and on-premise modes.
The productivity software publishing market research report is one of a series of new reports from The Business Research Company that provides productivity software publishing market statistics, including productivity software publishing industry global market size, regional shares, competitors with a productivity software publishing market share, detailed productivity software publishing market segments, market trends and opportunities, and any further data you may need to thrive in the productivity software publishing industry. This productivity software publishing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The productivity software publishing market size has grown strongly in recent years. It will grow from $378.86 billion in 2023 to $412.55 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The expansion observed in the historical period can be linked to the rising acceptance of personal computers, the automation of business processes, trends in globalization and remote work, the changing expectations of the workforce, and the emergence of small and medium-sized enterprises.
The productivity software publishing market size is expected to see strong growth in the next few years. It will grow to $603.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The anticipated expansion in the forecast period can be linked to the ongoing emphasis on remote work, the integration with cloud services, the increasing significance of data analytics, a focus on user experience and interface design, and market consolidation along with strategic partnerships. Key trends expected in the forecast period encompass mobile optimization, the emphasis on data privacy and security, the prevalence of subscription-based models, the provision of personalized productivity solutions, and a heightened focus on mental well-being.
The implementation of automation in any field can enhance efficiency and subsequently boost profit margins. The productivity software publishing market experiences impetus from cloud-based technology. Cloud-based productivity software facilitates effective sharing, collaboration, and communication among team members, eliminating the need for physical meetings or sharing files via disc/USB. This approach streamlines workflow, providing a user-friendly platform for applications such as graphics software, spreadsheet tools, database management systems, and word processors. Additionally, cloud-based software automates the control, protection, and installation of software, eliminating the need for manual monitoring. This capability enables managers to gain visibility into workers' responsibilities and ensures the achievement of crucial milestones by translating the technical power of software tools into strategic actions. Examples of cloud-based productivity software include Microsoft Office 365, Zoho Office Online Suite, Apple iWork, among others.
The growth of the productivity software publishing market is expected to be propelled by the increasing adoption of online shopping. This trend involves consumers using the internet for purchasing goods or services. E-commerce businesses rely on various productivity software solutions to efficiently operate, manage digital storefronts, handle inventory, process orders, manage customer data, and meet the demands of online consumers. For example, as of September 2022, consumer eCommerce constituted 30% of the UK's overall retail sector, with an annual e-commerce revenue exceeding $120 billion. In 2021, 82% of people in the UK had made at least one online purchase. Hence, the rising adoption of online shopping is a driving force for the growth of the productivity software publishing market.
Interoperability, defined as the ability of computer systems or software to exchange and utilize information, poses a challenge to the productivity software publishing market. This challenge encompasses the ability of customers to use the same management tools, server images, and software across various cloud computing providers and platforms. It also involves the capability of applications to seamlessly transition between different environments, such as from Savvis to Amazon, while maintaining consistent functionality. The compatibility issues of productivity software with diverse systems may impede market growth. For instance, when moving physical applications to the Amazon EC2 cloud, the need to convert applications to a virtualized version before migration arose due to compatibility issues, resulting in increased costs and time requirements for the project.
The evolution of technologies through productivity software aims to enhance consumer satisfaction, reduce human effort, and ensure optimal work efficiency. These technological advancements have led to the creation of new tools facilitating collaboration and providing opportunities for round-the-clock engagement. Productivity software tools offer features such as task communication and commenting, some even allowing the assignment of comments to team members, transforming them into subtasks. For instance, Clickup, a startup in the productivity software publishing domain, has developed a hybrid working platform that integrates various tools and capabilities to set goals for teams. Leveraging advanced technologies and meticulous attention to detail, the company has attracted clients such as Uber, Google, and Nike.
Prominent companies in the productivity software publishing market are increasingly focusing on integrating artificial intelligence (AI) and machine learning (ML) into their products to gain a competitive edge. AI and ML are utilized in productivity software to augment productivity and efficiency by automating repetitive and time-consuming tasks, including data entry, scheduling, and document management. As an illustration, in February 2022, Siemens Digital Industries Software, a US-based software company, launched the NX software, part of the Xcelerator portfolio, incorporating innovative technologies such as artificial intelligence (AI) and advanced simulation capabilities. The company heavily invests in productivity and capability enhancements to assist designers, engineers, and manufacturers in innovating more swiftly.
Organizations handling customer data are obligated to comply with the General Data Protection Regulation (GDPR). Compliance involves developing new data management strategies based on GDPR rules set by different countries and appointing a data protection officer or data controller responsible for GDPR adherence. GDPR grants individuals the right to control their data collected through productivity software. When processing personal data, companies must adhere to GDPR regulations. For example, MS Office has introduced Data Subject Requests (DSR) systems that capture, clean, and harmonize large datasets, allowing the retrieval of data in case of any breach of customer data.
Major companies operating in the productivity software publishing market report are Amazon.com Inc., Apple Inc., Google LLC, Microsoft Corporation, Dell Technologies Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., SAP SE, Slack Technologies Inc., Salesforce.com Inc., Adobe Inc., ServiceNow Inc., Workday Inc., Atlassian Corporation Plc, Dropbox Inc., Kdan Mobile Software Ltd., TrackTik Inc., ROEING CORPORATION, Astro Technology Inc., Techwise Consulting Inc., ProofHub Inc., Kingsoft Office Software Corporation Limited, The Apache Software Foundation, OfficeTimer LLC, CDC Software Corporation, I Done This, Outcess Inc., StatDash Inc., Box Inc., Asana Inc., Smartsheet Inc., Monday.com Ltd, Airtable Inc., Wrike Inc., Zoho Corporation Pvt. Ltd., Notion Labs Inc., Evernote Corporation, Doist Ltd., MeisterLabs GmbH, Coda Platform Inc.
Asia-Pacific was the largest region in the productivity software publishing market in 2023. North America was the second largest region of the global productivity software publishing market share. The regions covered in the productivity software publishing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the productivity software publishing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The productivity software publishing market includes revenues earned by entities by developing and distributing software programs dedicated to producing information, such as documents, presentations, worksheets, databases, charts, graphs, digital paintings, electronic music and digital video, excluding operating systems. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Productivity Software Publishing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on productivity software publishing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for productivity software publishing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The productivity software publishing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.