Productivity Software Market Excellent Growth Scope Witnessed in the Global Region| Google Inc., Microsoft (Office 365), SoftMaker Software GMBH, Corel Corporation, LibreOffice, IBM, Zoho Corporation, KOffice, and Hancom

Business Productivity Software Growth Mediated by Quick AI and IoT Integration across Enterprises

The global productivity software market was valued at USD 33.0 Billion in 2018 growing at a CAGR of over 16.5%. One of the most common and perpetual efforts of every business is to improve their productivity to maximize value generated per unit of resource utilized. Business productivity software market is growing strength to strength etching a healthy CAGR valuation as enterprise adoption of ML and AI capabilities soars. A new report synopsis on the ongoing market developments and their subsequent manifestation on growth prognosis have been discussed in great detail by Adroit Market Research.

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Enterprise ready business productivity software market is witnessing tailwind growth supported by pervasive smart device offerings. Offerings such as smart virtual personal assistants and chatbots is a growing trend across modern enterprises which support activities such as appointments and meetings scheduling.

BYOD Trends and Remote Workforce Offer Massive Growth Potential

Reliance on automation across businesses help in smooth integration of personal assistants to improve operational efficiency. Business productivity across enterprises is expected to manifest precise execution of business strategies, aided adequately by productivity software market.

Due to the growing competition, businesses are seeking alternatives to enhance profit and reduce costs. The use of productivity software is significant in large scale enterprises to complete a task in less time. The companies can improve their efficiency and effectiveness of its activities. Productivity software reduces the workload and eliminates human errors, in turn, improves effectiveness and consistency.

Rise in smart device integration, adequately supported by the growing trend of BYOD backed by a supportive remote workforce offer ample market expansion opportunities in global business productivity software market. Cloud-based operations soaring across enterprises eying operational and financial efficiency allow businesses to establish optimized communication matrix amongst stakeholders, employees and vendors. ON demand access to voluminous data assets irrespective of disparate locales improves productivity which in turn favors large scale reliance on business productivity software, improving growth outlook.

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Adoption across BFSI, Retail and Manufacturing Verticals to Support Expansion

Business productivity software may be deployed as both on-premise and cloud-based integration and has been witnessing fast track adoption across a range of business verticals such as manufacturing, retail, transportation amongst other end-users. Matured economies such as North American countries which boast of a robust IT infrastructure and witnesses tremendous reliance on AI and IoT solutions is likely to serve as the most lucrative regional belt in the coming years in productivity software market.

Based on the region, the global productivity software market is segmented in the US, Europe, China, Japan, Southeast Asia, India, Central & South America, and Rest of the world. The US is anticipated to dominate the productivity software market with an estimated market share of 60.7% in the year 2025. This is mainly attributable to advance adoption of the technological advancements in the country. The US is the most developed market in terms of adopting cloud computing services, or AI and Internet of Things (IoT) adoption due to a few factors, as many enterprises consists of technical expertise along with availability of advanced IT infrastructure. Furthermore, the significant players such as Microsoft (Office 365), Google, etc. operating in the productivity software are based out of this county and hence, there is a cut-throat competition in the US besides raising the value of the US as a market. Moreover, the strong economic position in the US allows it to capitalize massively on innovative solutions and technologies.

The major players of global productivity software market include Google Inc., Microsoft (Office 365), SoftMaker Software GMBH, Corel Corporation, LibreOffice, IBM, Zoho Corporation, KOffice, and Hancom Inc.

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Segment overview of Global Productivity Software Market

By Type Overview, 2015-2025 (USD Billion)

On-premises

Cloud

End User Overview, 2015-2025 (USD Billion)

Individual

Small and Medium Enterprises (SMEs)

Large enterprises

Regional Overview, 2015-2025 (USD Billion)

The US

Europe

China

Japan

Southeast Asia

India

Central & South America

Rest of the world

Table of Contents:

Chapter 1   Market Overview

Chapter 2   Industry Trends and Market Dynamics

Chapter 3   Global Productivity Software Market Competition, by Manufacturers

Chapter 4   Global Productivity Software Market, by Type

Chapter 5   Global Productivity Software Market, by Applications

Chapter 6   Global Productivity Software Market, by Region

Chapter 7   Company Profiles

Chapter 8   Methodology and Data Source

Chapter 9   Research Findings and Conclusion

Who should buy this report?

This study is suitable for industry participants and stakeholders in the global productivity software market. The report will benefit:

Every stakeholder involved in developing and distributing productivity software solutions.

Product managers looking to publish recent and forecasted statistics pertaining to the global productivity software market.

Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative global productivity software solutions.

Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.

About Us:

Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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