Growing adoption of smartphones and the trend of ‘Bring Your Own Device’ (BYOD) is driving the global business productivity software market. The demand for efficient business processes is creating demand for business productivity software. Business productivity software help to maximize the business productivity by optimizing time and cost spent on the task or business process. Business productivity software enable effective control over project workflow. The major parameters customers look for while selecting business productivity software are reliability, cross-platform compatibility, advanced management features, employee monitoring features, tools for analysis and generating reports_bk_01_01_2020 and others. Reliability is a key parameter since business productivity software are used for sharing and storing important business data. Safety and security are very important for business data and thus, business productivity software must be highly reliable. Cross-platform compatibility is another important parameter considered while selecting business productivity software since employees use different types of devices and operating systems. Business productivity software must be compatible with all types of devices and operating systems. Advanced management features of business productivity software, such as project management, chart generation and others, are the key differentiating features for business productivity software. An ideal business productivity software provides complete access and control over all the areas of business workflow. High-quality business productivity software facilitate data analysis, report generation and budget planning to make business management easy and automate the workflow of business.
Key features of the business productivity software include connecting teams, monitor business, communicative environment, analyze performance, process excellence, workforce optimization, customer experience analytics, enables to make strategic and operational decisions, advanced quality analysis and collaboration with multiple applications. Business productivity software optimizes the workforce and by workforce planning and forecasting. Workforce optimization minimizes operational cost, identifies revenue opportunities for businesses and helps in improving performance and transforming customer experience. Business productivity software capture the detailed view of customer expectations and help businesses make smart strategic decisions. Business productivity software continuously improve the business performance by tracking employee performance, quality management, workforce management and others on real time basis. Business productivity software effectively collaborate with other devices and applications, such as Office 365, Skype for business, Gmail and others. Several developments in business productivity software, with reference to technology, are proliferating the growth rate of the market. That apart, recent developments and innovations are expected to drive the global business productivity software market during the forecast period.
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Business Productivity Software Market: Drivers and Challenges
Continuous improvements in cloud technology and growing need from the business sector for efficient productivity is creating a huge demand for global business productivity software market. Consumerization and diversification of IT is another potential parameter contributing to the growth of global business productivity software market. Increasing demand for efficient business operations with maximum profit and trend of BYOD will have a positive impact on the growth of global business productivity software market during the forecast period.
Factors, such as data security and poor compatibility with multiple devices, are the major factors restraining the growth of global business productivity software market during the forecast period. However, vendors are continuously focused on bringing improvements in security and compatibility, which will give a boost to the business productivity software market.
Business Productivity Software Market: Segmentation
Segmentation based on the type of deployment:
The business productivity software market is segmented based on the type of deployment i.e. on-premise and SaaS.
Segmentation based on the size of enterprises:
The business productivity software market is segmented based on the size of enterprise i.e. small and medium enterprises and large enterprises.
Segmentation based on the industry:
The business productivity software market is segmented based on the industry i.e. IT and telecom, manufacturing, healthcare, BFSI and others.
Business Productivity Software Market: Key Developments
In May 2018, SHEA Business Solutions, a leading provider of business planning and business intelligence solutions acquired TGO Consulting, a provider of financial systems. With this acquisition, SHEA Business Solutions enhanced its client offerings to solve business problems.
Business Productivity Software Market: Key Players
Some of the key players operatingin the business productivity software market are Techwise (group), Outcess, ROEING CORPORATION, OfficeTimer, Datafortune, e-Zest Solutions, Magnitude Software, Inc., Avtex, ActionPoint Limited, SWC and others.
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Business Productivity Software Market: Regional Overview
The business productivity software market is segmented into North America business productivity software market, Latin America business productivity software market, Western Europe business productivity software market, Eastern Europe business productivity software market, SEA and other APAC business productivity software market, China business productivity software market, Japan business productivity software market and Middle East & Africa business productivity software market. Presently, North America and Western Europe hold the largest market share in the business productivity software market. Due to the high adoption of advanced technology and high end IT infrastructure in the U.S., demand for business productivity software is high.
The report covers exhaustive analysis on:
Business Productivity Software Market Segments
Historical Actual Market Size, 2013 – 2017
Market Size & Forecast 2018 to 2028
Market Current Trends/Issues/Challenges
Competition & Companies involved
Market Drivers and Restraints
Regional analysis for Business Productivity Software Market includes development in the following regions:
Rest of Western Europe
Rest of Eastern Europe
SEA and Other APAC
Australia and New Zealand (ANZ)
Rest of SEA
Middle East and Africa
Other Middle East
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current and projected market size in terms of value
Recent industry trends and developments
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint