Online Project Management Software Market to grow by USD 4.34 billion from 2022 to 2027, Increasing integration of social media with project management software drives the market - Technavio
NEW YORK, Jan. 5, 2024 /PRNewswire/ -- The "Online Project Management Software Market by End-user (Enterprises and Government), Deployment (On-premises and Cloud), and Geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the online project management software market between 2022 and 2027 is USD 4.34 billion.
The increasing integration of social media with project management software is notably driving market growth. Companies are increasingly using social networks as a major component of their digital marketing strategies. By integrating social media with online project management software, companies can provide employees with social workflow opportunities even when working outside the corporate firewall. A social workflow can consist of a set of service-oriented application interfaces (APIs) or a standalone feature with integrated applications that work with other messaging or business applications.
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Market Challenge
High implementation and operating costs are major challenges impeding market growth. Cloud-based project management software typically requires users to pay a subscription fee. The cost of the subscription can be based on the user's specific needs, such as custom features, storage capacity, remote access, and advanced support. On the other hand, cloud-based portfolio management software is generally expensive and the price often varies based on the number of users. Although the initial cost of cloud-based applications tends to be lower than on-premises applications, over time the costs can add up. This is because suppliers often require annual or quarterly orders to grow their customer base, which results in additional charges for extra services.
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The online project management software market has segmented by End-user (Enterprises and Government), Deployment (On-premises and Cloud), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
-- The market share growth by the enterprises segment will be significant
during the forecast period. Various industries such as IT,
manufacturing, construction, marketing/public relations and advertising,
management consultancies, BFSI, and others are referred to as
enterprises. The manufacturing sector is one of the industries in which
there is a growing demand for software solutions that can address
significant issues, including inefficient cost, schedule, and quality
control.
-- North America is estimated to account for 40% of the global market
during the forecast period.
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Key Companies in the online project management software market:
Apptio Inc, Atlassian Corp. Plc, Basecamp LLC, Citrix Systems Inc., Clarizen Inc., LiquidPlanner Inc., Mavenlink Inc., Microsoft Corp., monday.com Ltd., Planbox Inc, Premiere Global Services Inc., ProjectManager.com Inc., Redbooth, Scoro Software, TeamGantt, Teamwork Crew Ltd., Workfront Inc., Wrike Inc., Zoho Corp. Pvt. Ltd., and ActiveCollab LLC
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Online Project Management Software Market Scope
Report Coverage
Details
Base year 2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR Accelerate at a CAGR of 12.21%
Market growth 2023-2027
4.34 billion
Market structure
Fragmented
YoY growth 2022-2023 (%) 10.02
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution North America at 40%
Key countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled Apptio Inc, Atlassian Corp. Plc, Basecamp LLC, Citrix Systems Inc., Clarizen Inc., LiquidPlanner Inc., Mavenlink Inc.,
Microsoft Corp., monday.com Ltd., Planbox Inc, Premiere Global Services Inc., ProjectManager.com Inc., Redbooth, Scoro
Software, TeamGantt, Teamwork Crew Ltd., Workfront Inc., Wrike Inc., Zoho Corp. Pvt. Ltd., and ActiveCollab LLC
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19
impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments
customized.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Deployment
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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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Technavio Research
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Email: media@technavio.com
Website: www.technavio.com
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