According to a new report, published by KBV research, The Global Innovation Management Market size is expected to reach $2.5 billion by 2030, rising at a market growth of 10.3% CAGR during the forecast period.
The Services segment is generating the highest revenue in the Global Innovation Management Market by Component in 2022; thereby, achieving a market value of $1.7 billion by 2030. Consultative, system integration, training, support, and maintenance services are the subcategories of innovation management services. These consulting services help companies transform their existing, conventional infrastructure into intelligent infrastructure by utilizing new technology. The need for supporting services is growing with the expanded use of innovation management solutions across essential verticals.
The Business Processes segment would exhibit a CAGR of 12% during (2023 - 2030). The business process’s function is expected to impact the innovation management market substantially. All concepts developed and processed following customer demands are turned into products using an innovation management tool. Depending on the ideas generated, moderators can predict which product concepts will provide businesses with the best returns. As a result, they fuel innovation management market’s growth.
The Project Management Platforms segment is leading the segment in the Global Innovation Management Market by Tools in 2022; thereby, achieving a market value of $706.7 million by 2030. Software for project management is created to assist corporations and people in keeping track of projects, tasks, and schedules. It's an excellent tool for maintaining organization and staying on task. Platforms for project management are built on concepts like selective management, target-focused projects, cycle completion, stage-by-stage approaches, hierarchical nature of the innovation and project management processes, and multi-variance.
The Transportation segment would experience a CAGR of 12.4% during (2023 - 2030). Businesses are achieving faster and more efficient trading because of innovations in the logistics and transportation sector. Drones and autonomous vehicles are altering how items are moved, and data analytics and artificial intelligence (AI) are illuminating supply chain operations and enhancing decision-making. Businesses will be better positioned to prosper as they keep researching new developments in the logistics and transportation sector.
The North America region dominated the Global Innovation Management Market by Region in 2022; and would continue to be a dominant market till 2030, thereby, achieving a market value of $843.5 million by 2030. The Europe region is poised to grow at a CAGR of 9.9% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 11.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/innovation-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Accenture PLC, Planview, Inc., SAP SE, Salesforce, Inc., Boston Consulting Group, Medallia, Inc. (Thoma Bravo), Deloitte Touche Tohmatsu Limited, HYPE Softwaretechnik GmbH (HYPE Innovation) (Main Capital Partners), IdeaScale, and InnovationCast.
By Component
By Function
By Tools
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Companies Profiled
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