Japan, Japan, Thu, 31 Mar 2022 07:29:22 / Comserve Inc. / – Project Management Software Market analyzes size, share, growth, trend, segmentation, top players, strategy, demand, statistics, competitive landscape and forecast.
Market Overview
The project management software market is expected to register a CAGR of 10.17% during the forecast period. As today’s corporations grow in size and complexity, an all-inclusive solution is needed to manage and coordinate an entire organization’s portfolio of various projects. These solutions help management shuffle between plans, workload, budget, and resources, carefully observe project progress and report on delivery success.
– Project management software (PMS) has now evolved into a strategic business function today due to the acceleration trend, technology development as well as digital innovation and disruption that is happening in almost every industry.
-The PMS market is witnessing the availability of third-party technological and innovative accelerators that have resulted in new business models, interacting with customers and fulfilling their needs, and running business processes.
-Project management has now become a means of new product development, due to the emergence of the Internet of Things and the adoption of agile NPD, which has now been combined with PMS and led to the formation of new companies such as UMT360, GenSight, and Decision Lens in the field of enterprise product creation.
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Report Scope
Project management software is software used for various purposes in a project such as planning, scheduling, resource allocation, and change management. It allows project managers, stakeholders, and users to control costs and manage budgeting, quality management, and documentation and can also be used as a management system.
Major Market Trends
Oil and Gas Segment to Witness High Growth
-Project management software enables the oil and gas industry to plan, implement, monitor progress, close, and evaluate oil and gas projects, be it for current and future scenarios.
– Furthermore, due to the increasing complexity of industry operations, there is a growing need for project management software to properly optimize the use of resources, monitor capital expenditure, expand into new markets or for large -scale oil and gas exploration, and production activities.
– Software can also be implemented to manage and predict risks associated with various projects that will allow cost reduction, increased productivity, and improved worker safety.
– The growing use of automation in the sector and the growth of a connected ecosystem in the oil and gas industry have further stimulated the use of PMS with the need for collaboration, mobility, workflow, and analytic functions.
– With the increase in oil production around the world, it is clear that the demand for fuel is rising and therefore will initiate new projects in the industry that are increasingly driving the project management software market in this segment
North America Occupies the Largest Market Share
– The North America region holds the largest share of the market due to the increasing number of businesses using project management software solutions. The increasing demand on organizations to efficiently monitor and manage their projects is fueling the demand for this software in this region.
– The use of task management systems for successful execution of tasks and flexible work planning is expected to further drive the market in the coming years.
– In addition, the increased focus of organizations to promote partnerships with workers and strengthen team efficiency is also driving market growth.
– Moreover, the introduction of technologically advanced business solutions of small players is likely to boost market growth. For example, Victory Square Technologies in December 2018 launched Tim of a real-time resource management software, which is an AI-based solution.
Competitive Landscape
The project management software market is very competitive in nature. The market is partly concentrated due to the presence of many small and large players. The key strategies adopted by the major players are mergers and acquisitions and product innovation to stay ahead of the competition and expand their global reach.
– April 2018 – Accenture (which powers Oracle’s cloud applications) acquires Certus Solutions. The acquisition aims to strengthen Oracle cloud applications to accelerate the company’s digital transformation and achieve better business results.
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of Study
2 RESEARCH METHODS
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Drivers and Market Control
4.3 Market Drivers
4.3.1 Increased Sophistication and Growing Awareness among End Users
4.3.2 Ability to Connect and Integrate Multiple Separate Systems
4.4 Market Restrictions
4.4.1 High Initial Investment
4.5 Value Chain Analysis
4.6 Attractive Industry – Analysis of Porter’s Five Forces
4.6.1 Threats of New Entrants
4.6.2 Bargaining Power of Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threats of Alternative Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Deployment
5.1.1 Clouds
5.1.2 In place
5.2 End-user Vertical
5.2.1 Oil and Gas
5.2.2 IT and Telecom
5.2.3 Health care
5.2.4 Government
5.2.5 Other End-user Verticals
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE AND LANDSCAPE
6.1 Company Profiles
6.1.1 Oracle Corporation
6.1.2 Microsoft Corporation
6.1.3 SAP SE
6.1.4 Broadcom Inc. (CA Technologies)
6.1.5 Basecamp LLC
6.1.6 AEC Software
6.1.7 Workfront Inc.
6.1.8 ServiceNow Inc.
6.1.9 Unit4 NV
6.1.10 Atlassian Corporation PLC
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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