The Europe Project Management Software Market would witness market growth of 13.4% CAGR during the forecast period (2023-2030).
Multiple stakeholders can simultaneously utilize cloud-based project management software for various activities and can log in from a distance. The precise amount of time that has to be spent on a specific milestone, job, or project can also be tracked by managers and teams with the aid of project management software. Thus, market growth is accelerating as cloud-based project management software is used more frequently in large-scale projects.
Since IT departments are inundated with project requests from numerous business units and clients, project management software is widely used in the IT and telecom industries. IT sectors require a technique for project prioritization and organization. Projects must align with an organization's strategic goals; simple categorization may not be effective for enterprise businesses. With the expansion of the IT and telecom sectors, the need for project management software will increase significantly.
Technological advancements are taking place in the regional healthcare sector as well. Regarding the healthcare sector, Germany is by far the largest European market, twice as big as France and three times as big as Italy, the United Kingdom, and Spain. According to the International Trade Administration data published in August 2022, the nation has the third-largest medical innovation industry. With yearly sales of about USD 35.8 billion, or 25.6% of the entire European market, the German medical equipment business is one of the most profitable healthcare sectors. In order to maintain the pace of the sector's strength, businesses are opting for and implementing technological solutions like project management software to streamline their operations, supply chains, etc. Therefore, the expanding automotive and healthcare sectors will be the primary driver of the regional market's growth in the coming years.
The Germany market dominated the Europe Project Management Software Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,128.8 million by 2030. The UK market is exhibiting a CAGR of 12.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 14.2% during (2023 - 2030).
Based on Component, the market is segmented into Solution (Activity Scheduling, Project Portfolio Management, Document Management, Resource Management, Issue Tracking, and Others) and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Vertical, the market is segmented into Telecom & IT, BFSI, Engineering & Construction, Healthcare & Lifesciences, Government, Manufacturing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Project Management Software Market is Projected to reach USD 17.75 Billion by 2030, at a CAGR of 13.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adobe, Inc., Microsoft Corporation, Broadcom, Inc., Oracle Corporation, SAP SE, Zoho Corporation Pvt. Ltd., ServiceNow, Inc., Atlassian Corporation PLC, Monday.com Labs Ltd. and Smartsheet, Inc.
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