Press release
Online Project Management Software Market Foresees Skyrocketing Growth in the Coming Years
Some of the prominent participants in the global project management software market are Microsoft Corporation, Citrix Systems, Inc., Workfront, Inc., Atlassian Corp PLC, Zoho Corporation, Wrike, Inc., Basecamp, LLC, Smartsheet.com, Inc., Mavenlink, and Asana, Inc.
As per a report by Transparency Market Research, the global online project management software market will likely rise at a CAGR of 9.3% from 2017 to 2025 to attain a value of US$6.08 bn by 2025 from US$ 2.74 bn in 2016.
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The different end-users in the global online project management software market are small and medium sized enterprises, large enterprises, and government. Of them, the large enterprises are responsible for generating most of the revenue in the market. The segment is also expected clock maximum growth in the years to come.
Geographically, the key segments of the global online project management software market are Asia Pacific, Europe, North America, South America, and the Middle East and Africa. Among them, Asia Pacific will likely steal the show when comes to growth rate. This is because of the rising awareness among small and medium enterprises about the advantages of online project management software and the rising uptake of cloud and mobility in developing nations of India, Singapore, and Malaysia. The region is predicted to clock a CAGR of 13.6% from 2017 to 2025.
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Lack of Trained Manpower Spurs Demand
Primarily serving to stoke demand for online project management software is the dearth of appropriate tools and skills to manage the project. It has been noticed that the demand for online project management software is high from first time users of project management software and solutions.
Explains the lead analyst of TMR report, “The emergence and proliferation of e-commerce has fueled the number of online transactions carried out globally. This has resulted in significant uptake of retail online project management software and other types of such software. The U.S., India, and China are expected to be at the forefront of the global project management software market. Digitization across industries has led to increased investments in development and deployment of new technologies and software solutions. Industries across the globe are encouraging the development of technologies which would ensure safe, fast, and easy exchange and monitoring of data over the internet. All these have proved beneficial to the global online project management market.”
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Strict Rules Hinder Market
Posing a hindrance to the online project management software market is the strict rules which prevents hassle-free introduction and implementation of innovative solutions and systems in the online project management software market.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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