Productivity Software Global Market Report 2024

The productivity software market size has grown rapidly in recent years. It will grow from $55.96 billion in 2023 to $64.93 billion in 2024 at a compound annual growth rate (CAGR) of 16%. The increase in historical times can be credited to the need for efficiency and time management, the inception of early software, escalating expectations for user-friendly interfaces, the ascent of knowledge work, and the influences of globalization and remote work.

The productivity software market size is expected to see rapid growth in the next few years. It will grow to $118.11 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to the heightened attention on employee well-being, the proliferation of hybrid work models, escalating demand for productivity software, the growing emphasis on ethical handling of data, and the integration with artificial intelligence (AI). Notable trends during this period encompass the integration of augmented reality (AR) and virtual reality (VR), unified collaboration platforms, blockchain integration to bolster data security, prioritization of mobile-first design, and integration with IoT devices.

The surge in remote workers is poised to drive the expansion of the productivity software market. Remote workers, defined as individuals conducting their job duties outside of a conventional office setting, are on the rise due to technological advancements, evolving work-life balance perceptions, and the global pandemic accelerating flexible work arrangements. Productivity software enables remote workers to collaborate efficiently, manage tasks effectively, and sustain productivity irrespective of their physical location. For instance, a Census Bureau news article reported a significant increase in remote work in 2021, with the number of people primarily working from home tripling to approximately 27.6 million individuals, constituting 17.9% of the workforce. Hence, the proliferation of remote workers is stimulating the growth of the productivity software market.

Key players in the productivity software market are concentrating on innovating solutions such as warehouse productivity software to enhance operational efficiency and streamline processes across diverse industries. Warehouse productivity software, a specialized application, aims to optimize warehouse operations by automating tasks such as inventory management, order fulfillment, shipping, and receiving, while providing real-time data insights. For instance, in March 2024, JLT Mobile Computers AB launched JLT Insights warehouse productivity software, leveraging real-time data from sensors embedded in their rugged JLT6012 Series of forklift-mounted computers. This data is then processed, contextualized, and shared via an intuitive dashboard, enabling warehouse managers to preempt issues and make data-driven decisions to enhance efficiency.

In February 2021, Workday Inc. acquired Peakon ApS for $700 million, enhancing its offerings with real-time visibility into employee sentiment, engagement, and productivity. Peakon ApS, a Denmark-based software company, specializes in productivity software.

Major companies operating in the productivity software market are Apple Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce.com Inc., Adobe Inc., Zoom Video Communications Inc., Atlassian Corporation Plc, Dropbox Inc., Slack Technologies Inc., Smartsheet Inc., Monday.com Ltd., Notion Labs Inc., Asana Inc., Wrike Inc., Airtable Inc., Kdan Mobile Software Ltd., Evernote Corporation, Zoho Corporation Pvt. Ltd., Trello Inc., OffiDocs Group OU, iDoneThis Inc., Statdash LLC, ProofHub LLC.

North America was the largest region in the productivity software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the productivity software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the productivity software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Productivity software encompasses a class of applications and tools engineered to enhance efficiency, streamline workflows, and proficiently manage tasks for individuals, teams, and organizations. These software solutions boast a broad spectrum of features tailored to elevate productivity across professional and personal spheres.

The primary variants of productivity software are cloud-based and on-premises. Cloud-based denotes a computing paradigm wherein software, data storage, and computational resources are accessed via the internet rather than residing locally on a user's device or on-site servers. These diverse solutions span content management, collaboration, asset creation, artificial intelligence, predictive analytics, structured work management, connectivity, integration services, technical support, and other applications, catering to a myriad of sectors such as small and medium enterprises, large corporations, and various end-users including banking, financial services, insurance, government, healthcare, retail, manufacturing, information technology, telecommunications, among others.

The productivity software market research report is one of a series of new reports that provides productivity software market statistics, including productivity software industry global market size, regional shares, competitors with a productivity software market share, detailed productivity software market segments, market trends, and opportunities, and any further data you may need to thrive in the productivity software industry. This productivity software research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The productivity software market includes revenues earned by entities by providing services such as document creation and editing, task and project management, time and resource management, note-taking and information management, email and communication management, and customization and integration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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