Published Date: 30-Jun-2023
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According to a new report, published by KBV research, The Global Project Management Software Market size is expected to reach $17.75 billion by 2030, rising at a market growth of 13.8% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 14.8% during (2023 - 2030). Support, maintenance, integration, and deployment services are all provided by project management software. The requirement for software deployment as well as integration services is increasing along with enterprises' increased use of project management tools. Additionally, consumers can get help from the support & maintenance services when they encounter problems or hurdles while completing certain duties.
The Large Enterprises segment acquired maximum revenue share in the Global Project Management Software Market by Enterprise Size in 2022 thereby, achieving a market value of $12.2 billion by 2030. Large organizations may handle several projects and activities simultaneously using project management software, which also helps with resource management, task management, planning, and scheduling. Additionally, project management software supports efficient communication within large organizations where teams are dispersed across numerous locations and departments are the main factors driving the segment expansion.
The Cloud segment is leading the Global Project Management Software Market by Deployment Type in 2022 thereby, achieving a market value of $11.4 billion by 2030. The majority of subscription-based software models make up cloud-based project management software. In a cloud-based architecture, it enables businesses to employ project management software. Based on demand, businesses can use and renew their software licenses with workable project management software with cloud platforms. Consequently, it is anticipated that these variables will encourage segment growth.
The Healthcare & Lifesciences segment has shown the growth rate of 15.1% during (2023 - 2030). In contrast to other sectors, the healthcare industry is subject to more stringent regulations, like the HIPPA laws. More than ever, sensitive information needs to be protected, and institutions took action by adding more authorization levels. Project management is commonly required since local and national hospitals and governments frequently have to approve projects. The healthcare institution has several departments, including medical, administrative, payroll, and pharmacy, as well as doctors and nurses.
The North America market dominated the Global Project Management Software Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.7 billion by 2030. The Europe market is exhibiting CAGR of 13.4% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 14.7% during (2023 - 2030).
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 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.
By Enterprise Size
By Deployment Type
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