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Business Productivity Software Market Report 2024-2033 | Size, Share, Growth, Demand, Trends
Business Productivity Software Market
As per the report, the business productivity software market size has grown rapidly in recent years. It will grow from $40.98 billion in 2023 to $46.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The business productivity software market size is expected to see rapid growth in the next few years. It will grow to $78.57 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%.
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Growth In Remote Workforce Enhanced Business Productivity Software Market
The rise of remote and distributed workforces globally is expected to propel the growth of the business productivity software market going forward. Remote and distributed workforces refer to employment structures where employees work outside of a traditional office setting, often from their homes or other remote locations. Remote and distributed workforces are increasing due to advancements in technology, changing attitudes towards work-life balance, and the global pandemic accelerating the adoption of flexible work arrangements. Business productivity software supports remote and distributed workforces by providing the necessary tools and platforms for efficient communication, collaboration, project management, and task organization. For instance, in April 2023, according to the US Bureau of Labor Statistics, the percentage of establishments with employees who teleworked grew from 37.4% in 2021 to 42.2% in 2022. Therefore, the rise of remote and distributed workforces globally is driving the growth of the business productivity software market.
Innovative Solutions Enhance Productivity With Generative AI-Powered Assistants
Major companies operating in the business productivity software market are focusing on developing generative AI-powered assistant solutions to boost developer and business productivity. A generative AI-powered assistant solution in business productivity software is an artificial intelligence (AI)-driven tool designed to enhance efficiency by automating tasks, providing insights, and supporting decision-making processes. For instance, in April 2024, Amazon Web Services Inc., a US-based cloud computing platform, launched Amazon Q, an advanced generative artificial intelligence (AI) assistant designed to accelerate software development and enhance business data utilization. Amazon Q is a comprehensive business productivity software solution that leverages generative AI to boost efficiency, decision-making, and collaboration for developers, deep enterprise integration, robust security, generative AI capabilities, productivity-enhancing features, and proven adoption by large organizations and business users across the enterprise.
The business productivity software market covered in this report is segmented -
1) By Solutions: Content Management And Collaboration, Asset Creation, Artificial Intelligence (AI) And Predictive Analytics, Structured Work Management
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Industry: Banking, Financial Services And Insurance, Information Technology And Telecom, Healthcare, Travel And Hospitality, Retail And E-Commerce, Manufacturing, Other Industries
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Major companies operating in the business productivity software market are Google LLC, Microsoft Corporation, Salesforce.com Inc., Adobe Inc., Zoom Video Communications Inc., Atlassian Corporation plc, Dropbox Inc., HubSpot Inc., Zendesk Inc., Slack Technologies Inc., Zoho Corporation Pvt. Ltd., Smartsheet Inc., TeamViewer GmbH, Miro, Monday.com Ltd., Freshworks Inc., Asana Inc., Basecamp LLC, Intercom Inc., Box Inc., Wrike Inc., ClickUp Inc., Airtable Inc., Notion Labs Inc., Evernote Corporation, Trello Inc.
Contents of the report:
1. Executive Summary
2. Business Productivity Software Market Report Structure
3. Business Productivity Software Market Trends And Strategies
4. Business Productivity Software Market - Macro Economic Scenario
5. Business Productivity Software Market Size And Growth
…..
27. Business Productivity Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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