Global Task Management Software Market Size Hit USD 9.93 Billion at a CAGR of 13.3% in 2030 | Microsoft, Evernote Corporation
Ability to promote collaboration at a workspace, increase efficiency and work output, manage resources and prioritize tasks, extensive research and development and companies constantly rolling out superior updates are the key factors contributing to high CAGR of Task management software market during forecast period.
Market Size – USD 3.24 Billion in 2021, Market Growth -
CAGR of 13.3%, Market Trends – Efficient utilization of workforce by centrally
managing tasks to boost the task management software market growth
According to the current analysis of Reports and Data, the
global Task
management software market was valued at USD 3.24 Billion in 2021 and
is expected to reach USD 9.93 Billion by year 2030, at a CAGR of 13.3 percent.
The study provides an overall insight into the factors responsible for the
growth in the Task management software market. The global task management
software market is driven by the ability of the software to manage workflows in
a centralised manner and allocation of the tasks to the right resources. It
helps in managing a certain task and maintaining a proper workflow. The
technological advancements in the AI and Machine Learning offer lucrative
opportunities to the vendors in the task management software market. Automation
and orchestration are the new trends to watch out in the task management
software market. Integration of these technologies allows better utilization of
the resources at a reduced costs thereby increasing productivity and efficiency
of the workforce. They provide useful insights like resources, milestones,
estimation, forecasting and developments. They help in achieving goals either
on a personal level or collective level. They help in sharing information as
well.
The solution helps businesses in creating their own
customised workflows and orchestrations depending on the nature of business. It
helps in working centrally and minimise the data loss as well as increase the
efficiency of the work. Task management software work remotely allowing the
user to set up and run tasks from any device and any location. They support the
BYOD capabilities and can be executed on any device reducing the need for
personalised infrastructure for the same. The intense competition is keeping
the key players at their toes. Extensive widespread end uses have fuelled the
competition and are driving the market forward. Software segment is expected to
hold a major share in the task management software market owing to it endless
functionality.
Key participants
Microsoft, Evernote Corporation, Inflectra, Workfront, Wrike, Zoho, Redbooth,
todo.vu, com, Smartsheet, and TimeCamp, Atlassian, Pivotal Software,
RingCentral, Azendoo, and Bitrix.
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Market Overview:
The research report
assesses the market dynamics, market landscape, company profiles, production and
manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s
Five Forces analysis. The report estimates the market size, market growth, and
provides an accurate forecast for the key segments of the market for the
forecast period of 2020-2028. The report also covers an in-depth analysis of
the key competitors of the market, along with their growth strategies and
business expansion plans.
The Task
Management Software Market has
been segmented into key regions of the world and offers an analysis of growth
rate, market share, market size, current and emerging trends, production and
consumption ratio, industrial chain analysis, demand and supply, import and
export, revenue contribution, and presence of key players in each region. A
country-wise analysis of the market is offered in the report to gain a better
understanding of the regional spread and progress of the Task
Management Software Market.
Further key findings from the report suggest
- Task
management software market is growing at a CAGR of 6% in Asia Pacific
followed by North America and Europe.
- North
America has the largest market adoption of the task management software
owing to the presence of large multinationals and smart workforce in the
industries
- On
premises segment of the Task management software market is expected to
occupy the majority of the market accounting to almost around 82.2% share
owing to presence of large number of free vendors and open source
software.
- The
cloud deployment is projected to grow at a faster rate due to the
increasing adoption of cloud based software and the benefits offered by it
such as scalability, usability, and availability
- The
task management software is platform independent and can be supported by
multiple operating systems such as Windows, Mac, Linux, Mobile OS, and
others.
- The
marketing business function is estimated to hold the largest market share
in the market. The marketing functions has numerous unique and repetitive
tasks that needs quick actions and support as they are critical for the
business
- The
small and medium sized enterprises have the fastest growth rate during the
forecasted period as the SMEs have smaller budgets and smaller workforce
forcing them to implement solutions for better resource utilization
- IT
and Telecom segment of the Task managements software market occupied
almost 19.9% of the market because the ability of the software to achieve
personal as well as collective goals.
- The
Services segment market has noted sturdy growth due to advancement and
advent of technologies like AI and Machine leaning which have made faster
and easier handling of consumers and increased the efficiency of the
services provided.
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Segments covered in the report
For the purpose of this report, Reports and Data have segmented
the Task management software market on the basis of type, business function,
component, size, end user, and region:
Component Type Outlook (Revenue, USD Billion; 2019–2030)
- Software
- Services
Deployment Type Outlook (Revenue, USD Billion; 2019–2030)
- On-Premises
- Cloud
Organization Size Outlook (Revenue, USD Billion;
2019–2030)
- Large
Enterprises
- Small
and Medium Enterprises (SMEs)
Business Function Type Outlook (Revenue, USD Billion;
2019–2030)
- Marketing
- Human
Resource
- Finance
- Others
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Banking,
Financial Services, and Insurance (BFSI)
- Information
Technology (IT) and Telecom
- Healthcare
- Manufacturing
- Education
- Retail
- Others
Regional Outlook (Revenue, USD Billion; 2019–2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest
of Europe
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- Rest
of APAC
- Latin
America
- Brazil
- Rest
of LATAM
- Middle
East & Africa
- Saudi
Arabia
- UAE
- South
Africa
- Israel
- Rest
of Middle East & Africa
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Key Advantages of Task
Management Software Market Report:
- Identification
and analysis of the market size and competition
- Qualitative
and quantitative analysis of the market data
- Data
validated by industry experts after extensive primary and secondary
research
- Extensive
regional analysis of the Task
Management Software industry
- Profiling
of key players along with their business overview, business strategies,
deals and partnerships, and product portfolio
- SWOT and
Porter’s Five Forces Analysis for in-depth understanding of the
competitive landscape
- Feasibility
analysis and investment analysis to enable strategic investment decisions
- Analysis
of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Task Management Software
Market are quantitatively as well qualitatively assessed to study the global as
well as regional market comparatively. This market study presents critical
information and factual data about the market providing an overall statistical
study of this market on the basis of market drivers, limitations and its future
prospects.
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the market.
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