Business Productivity Software Market is Segmented by solution such as Productivity Software, Team Collaboration, Email Management, Scheduling Software, Time Management, Services, Integration Services, Technical Support, Consulting
Advancements in collaborative and interactive technologies have made communication solutions more dynamic, which enables individuals to share information via multimedia technology. Also, content sharing, digital data streaming, and mobile connectivity solutions are turning meeting rooms into dynamic locations, where people from different states, countries, and continents can be involved in one place for decision-making, problem-solving, and risk control processes. Due to this digitizing at the workspace, many vendors in the business productivity software market are focusing on developing more dynamic solutions to meet the rising demands of customers, which, in turn, is driving the growth of global business productivity software market.
As per findings of a new market research report by Persistence Market Research, the business productivity software market is projected to exhibit an impressive CAGR of more than 12% during the forecast period (2022 to 2030).
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Key Takeaways from Business Productivity Software Market Study
“Key players in the market can gain significant profits by providing business productivity software integrated with blockchain technology, as blockchain ledger helps pre-authorize the sharing of confidential information, and wraps the information in blocks to create immutable records,” says a PMR analyst.
Increasing Demand for Cloud Communication Solutions and Growing Mobile Workers
Enterprises are adopting cloud communication due to continuous innovation in solutions, flexibility, and low-cost solutions for communicating in enterprises. Due to the adoption of cloud communication solutions, enterprises are benefiting from total interoperability and capabilities across multiple locations. Nowadays, many enterprises are adopting cloud communication solutions for collaborating and scheduling processes, to reduce the complexity of implementation and maintenance processes. Thus, rise in the demand for cloud communication solutions is driving the growth of the business productivity software market.
Moreover, today’s enterprises have a presence all around the world, and are functioning at multiple locations, which increases the number of mobile workers. Due to this factor, organizations are adopting advanced connectivity solutions that can help their employees maintain communication in an efficient manner. Apart from this, increasing usage of collaboration tools such as Skype and Zoom to conduct internal meetings and trainings in order to reduce travel cost is also creating potential growth opportunities for the business productivity software market. Enterprises are adopting cloud communication solutions to reduce errors, misunderstandings, and communication barriers, and to enhance cross-functional communication, which is fueling the growth of the business productivity software market.
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Find More Valuable Insights on Business Productivity Software Market
Persistence Market Research puts forward an unbiased analysis of the global market for business productivity software market, providing historical demand data (2015–2019) and forecast statistics for the period of 2020–2030. To understand the opportunities in the business productivity software market, the market is segmented on the basis of solution (productivity software and services), deployment (cloud and on-premise), enterprise size (SMEs and large enterprises), industry (BFSI, IT & telecom, healthcare, travel & hospitality, retail & e-Commerce, manufacturing, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services.
Jun 09, 2023
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