Global Productivity Tools Software Market Size By Deployment Type(On-Premise, and Cloud), By Enterprise Type(Small & Mid-Size Enterprises (SMEs), and Large Enterprises), By Geographic Scope And Forecast

Productivity Tools Software Market Size And Forecast

Productivity Tools Software Market size was valued at USD 41.90 Billion in 2020 and is projected to reach USD 122.70 Billion by 2028, growing at a CAGR of 14.49% from 2021 to 2028.

The increasing need to manage workflow and tasks among the business to augment the growth, rapidly growing advancements in the area of Artificial Intelligence (AI) and (ML) are the major factors driving the market growth. The Global Productivity Tools Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Productivity Tools Software Market Definition

So, productivity software (you might also hear it called personal productivity software or office productivity software) is really just application software that helps you create stuff – things like documents, snazzy presentations, spreadsheets, even databases, charts, and cool things like digital paintings or electronic music. The name comes from the fact that it makes you, well, more productive! It's great for anyone from typists to knowledge workers. Think of office suites from the '80s, with their word processors, spreadsheets, and databases – those are a perfect example. Usually, this software runs right on your computer, like on the Commodore Plus/4 which had it built-in. Honestly, productivity software is a big reason why people even bother with personal computers – it just makes getting things done easier and more effective.

It seems like everyone's trying to learn this software these days – it's getting super popular and really boosts your chances of landing a job! The big three apps to know? Word processing, spreadsheets, and databases. All incredibly useful! Speaking of productivity software, think of tools like Excel, PowerPoint, Word, even Kid Pix and Publisher – and tons more. They really help teachers spice up their lessons and take students beyond those boring textbooks and lectures. Take Excel, for instance. It's a game-changer for teaching math and science. Seriously, you can turn raw numbers into a graph in seconds! This lets teachers visually show experiment or survey results with cool charts. And that visual representation is just as important as the numbers themselves. Some kids are visual learners, and they might not get the data's impact until they see it in a chart or graph.

Global Productivity Tools Software Market Overview

We're seeing a real push for better ways to manage how things get done at work, and that's helping the productivity management software market take off. A big reason? All the cool advancements in Artificial Intelligence (AI) and Machine Learning (ML). Plus, businesses are increasingly using these tools to streamline their processes. The rise of "Bring Your Own Device" (BYOD) policies, enterprise mobility, and smartphones means a more mobile workforce, which also drives demand. After all, business productivity is all about executing your overall strategy well. And since a company's productivity is tied to its employees, these software solutions become essential. They help integrate data and processes across the board and make it easier for everyone – employees, customers, even suppliers – to collaborate effectively.

Plus, the fact that more and more people are using smart devices and have Internet access is really driving the market forward! Think about itscheduling meetings used to be a pain, but now mobile tech has made it so much easier and faster. All these improvements in mobile tech have led to more people using business productivity software. So, naturally, software companies have created apps that let you plan and schedule meetings right on your phone or tablet. More smartphone users means more growth for the business productivity software market. And because IT is becoming more focused on what users want, everyone's using their own phones, tablets, and laptops at work to communicate. This whole BYOD (Bring Your Own Device) thing has pushed software vendors to create better business productivity solutions that are more user-friendly, productive, and secure.

However, the high deployment cost of the Productivity Tools Software is a major restraining factor that might hamper the market growth. The lack of work engagement cost companies an estimated USD 7 trillion in lost productivity in 2017 around the world. Productivity management software relies on the power of automation to speed up processes and reduce the mundane activities of the employees and induce productivity.

Global Productivity Tools Software MarketSegmentation Analysis

The Global Productivity Tools Software Market is segmented based on Deployment Type, Enterprise Type and Geography.

Productivity Tools Software Market, By Deployment Type

• On-Premise• Cloud

Based on Deployment Type, the market is On-Premise, and Cloud. The cloud segment accounted for the largest revenue share of around 56.8% in 2019. The cloud-based productivity management software solutions provide the organization mobility, remote connectivity, reliable and secure storage of data and information, and easy and immediate access to the files and data. The data-driven business organizations have immense data at their disposal. The cloud-based software helps the organization to systematically manage and access the data. Moreover, an increasing need for secure and critical data would drive the segment growth.

Productivity Tools Software Market, By Enterprise Type

• Small & Mid-Size Enterprises (SMEs)• Large Enterprises

Based on Enterprise Type, the market is segmented into Small & Mid-Size Enterprises (SMEs), and Large Enterprises. The large enterprise segment accounted for the largest revenue share of around 52.0% in 2019. Productivity Management Software enables organizations to offload mundane tasks to technology that can complete them more efficiently. Thus, increasing adoption in large enterprises to ease the operation process is estimated to support the segment growth. Besides, the rising number of large enterprises across the developed and emerging economies will surge the demand for productivity management software over the forecast period.

Productivity Tools Software Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

So, when we look at where Productivity Tools Software is popular around the globe, we break it down by GeographyNorth America, Europe, Asia Pacific, and then, well, everywhere else (Rest of the world). Back in 2019, North America was really leading the charge, grabbing about 39% of the revenue, and it looks like they're going to keep that top spot for a while. Why? Well, you've got some big names like Oracle, Salesforce, Microsoft Corporation, IBM, Adobe, and Google all based there. Plus, everyone's really getting into productivity management software to ditch those boring tasks, and the infrastructure is constantly getting better. On top of that, the rise of AI and machine learning should really give the market a boost in the next few years.

Key Players

The “Global Productivity Tools Software Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Google LLC, Microsoft, Salesforce.com, Inc., Slack Technologies, Inc., Monday.com, IBM Corporation, Oracle, Zoho Corporation Pvt. Ltd., Adobe, and HyperOffice.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations and Agreements

• On June 2020, Slack Technologies, Inc. come into a strategic partnership with Amazon Web Services to build deep integrations between Amazon AppFlow and AWS Chatbot. AWS will implement Slack organization-wide to streamline team communication.

• On Jul-2020, Microsoft collaborated with Citrix Systems, Inc., a software company, to reimagine the new, flexible workplace. Under the collaboration, the companies were focused on helping organizations accelerate the move to the cloud and speed adoption of digital workspaces and virtual desktops.

Mergers and Acquisitions

• On July 2019, Red Hat announced that they closed the landmark acquisition by IBM. Briefly, IBM will acquire all of the issued and outstanding common shares of Red Hat for $190,00 per share in cash, representing a total enterprise value of approximately $34 billion. IBM preserves Red Hat’s independence and neutrality, and this will enable IBM to become one of the largest hybrid cloud providers.

• On December 2020, IBM acquired Instana. The acquisition will help businesses better manage the complexity of modern applications that span the hybrid cloud landscape and infuse AI in all areas of IT Management.

Product Launches and Product Expansions

• On April 2020, Microsoft renamed its productivity software solution Office 365 to Microsoft 365. The company also announced no changes in the subscription plans.

• On July 2020, Slack released Slack Connect, the next evolution in inter-business communication. Slack Connect is all set to achieve its three main results for businessesSecurely connecting to external organizations, getting work done faster with partners and vendors, and strengthening business relationships.

Report Scope

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We take a good look at the market using both numbers (quantitative) and more descriptive (qualitative) methods, dividing it up by things like money and other stuff that matters. We'll give you the market size in USD Billion for all the different parts and smaller parts. Plus, we'll point out which area and segment we think will grow the fastest and be the biggest. Expect a breakdown by region, showing how much of the product/service is used and what's influencing the market there. We also cover the competitive scene, ranking the big players and highlighting new stuff they're launching, their partnerships, expansions, and who's buying who over the last five years. You'll get detailed profiles of the main companies, including their background, insights, how their products stack up, and a SWOT analysis. We'll share our thoughts on where the market is now and where it's heading, considering new things happening (like opportunities, what's driving growth, and any roadblocks) in both new and mature areas. We dig deep with Porter's five forces to really understand the market from all angles. We’ll also give you a peek at the Value Chain. Finally, we'll lay out the market dynamics and highlight the growth opportunities coming down the road. Oh, and we offer 6 months of analyst support after you buy.

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