Press release
Key Factor Supporting Global Productivity Software Market Development in 2025: Remote Work Revolution Fuels Growth In Productivity Software Market
Productivity Software
What Is the Expected CAGR for the Productivity Software Market Through 2025?
There has been a swift expansion in the size of the productivity software market in the previous years. The market, which is valued at $64.93 billion in 2024, is projected to increase to $74.94 billion in 2025, with a compound annual growth rate (CAGR) of 15.4%. The historical growth has been driven by factors such as increased demand for productivity and time management, development of early software, elevated anticipation for user-friendly interfaces, the emergence of knowledge work, along with the concept of globalization and remote work.
What's the Projected Size of the Global Productivity Software Market by 2029?
It is anticipated that the market for productivity software will witness swift expansion in the forthcoming years, reaching an estimated value of $130.99 billion by the year 2029 with a 15.0% compound annual growth rate (CAGR). This projected growth during the forecast period can be credited to factors such as increasing focus on workers' welfare, the rise of blended work setups, growing demand for productivity software, greater attention to ethical handling of data, and incorporation with artificial intelligence (AI). The forecast duration will also see many key trends such as the integration of augmented reality (AR) and virtual reality (VR), unified platforms for collaboration, the incorporation of blockchain for data protection, a mobile-oriented design approach, and compatibility with IoT devices.
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Top Growth Drivers in the Productivity Software Industry: What's Accelerating the Market?
The surge in remote working is anticipated to fuel the expansion of the productivity software market. Remote employees are those who execute their duties outside of a conventional office setting, often selecting their location, such as their residence, a shared workspace or another off-site venue. The increase in remote employees can be attributed to technological advancements, the evolving mindset towards balancing work and personal life, and the COVID-19 pandemic hastening the shift towards flexible work setups. Productivity software enables remote workers to collaborate effectively, manage their tasks proficiently, and maintain their productivity irrespective of their geographic locations. For instance, moving to February 2023, The Office for National Statistics (a non-ministerial department based in Wales) revealed that in Great Britain, between September 2022 and January 2023, 16% of people declared that their work was exclusively home-based, while 28% reported a mix of home-based work and commuting to their jobs. As a result, the increase in remote working is stimulating the expansion of the productivity software market.
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What Trends Will Shape the Productivity Software Market Through 2029 and Beyond?
Major corporations involved in the productivity software sector are focusing their efforts on the creation of pioneering solutions like warehouse productivity software, aiming to improve operational performance and simplify operations across diverse industries. Warehouse productivity software, a niche application, augments the success and efficiency of warehouse functioning. It automates processes and offers real-time data insights to simplify tasks such as order fulfillment, inventory management, shipping, and receiving. For example, JLT Mobile Computers AB, a computer manufacturing company based in Sweden, in March 2024, unveiled their JLT Insights warehouse productivity software, meant to aid warehouse operators. The software utilizes real-time information from sensors incorporated in JLT's durable JLT6012 Series of forklift-mounted computers to gather operational data. This data can then be compared, contextualized, shown, and shared through a user-friendly dashboard on several devices. This enables warehouse managers to identify and resolve issues before they escalate and leverage data to make informed decisions to increase efficiency.
What Are the Main Segments in the Productivity Software Market?
The productivity softwaremarket covered in this report is segmented -
1) By Type: Cloud-Based, On-Premises
2) By Solutions: Content Management, Collaboration, Asset Creation, Artificial Intelligence, Predictive Analytics, Structured Work Management, Connectivity, Integration Services, Technical Support, Other Solutions
3) By Application: Small And Medium Enterprises, Large Enterprises
4) By End-User: Banking, Financial Services, and Insurance, Government And Public Sector, Healthcare, Retail, Manufacturing, Information Technology And Telecom, Other End-Users
Subsegments:
1) By Cloud-Based: Software As A Service (Saas), Platform As A Service (Paas), Infrastructure As A Service (Iaas),
2) By On-Premises: Self-Hosted Software, Licensed Software.
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Which Top Companies are Driving Growth in the Productivity Software Market?
Major companies operating in the productivity software market are Apple Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce.com Inc., Adobe Inc., Zoom Video Communications Inc., Atlassian Corporation Plc, Dropbox Inc., Slack Technologies Inc., Smartsheet Inc., Monday.com Ltd., Notion Labs Inc., Asana Inc., Wrike Inc., Airtable Inc., Kdan Mobile Software Ltd., Evernote Corporation, Zoho Corporation Pvt. Ltd., Trello Inc., OffiDocs Group OU, iDoneThis Inc., Statdash LLC, ProofHub LLC
Which Regions Will Dominate the Productivity Software Market Through 2029?
North America was the largest region in the productivity software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the productivity software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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