Project Management Software Market to Surpass US$ 20.4 Bn by 2032 Driven by Increasing Demand for Enterprise Resource Management

Companies Profiled In Project Management Software Market are Oracle Corporation, ServiceNow, SAP SE, Elecosoft, NetSuite, Citrix Systems, Inc., Deltek, Inc., Unit4, Zoho Corporation Pvt. Ltd., Total Synergy, Hive, Digité, Inc., Wrike, Inc., MeisterLabs, monday.com, Basecamp, ProjectManager.com, Inc., Whizible, Zilicus Solutions, Asana, Atlassian

NEWARK, Del, May 16, 2022 (GLOBE NEWSWIRE) — According to the project management software industry analysis by Future Market Insights (FMI), the demand registered in the market will increase at a healthy CAGR of 13.1% from 2022-2032. The report states that the market is expected to reach the valuation of ~US$ 5.9 Bn by the end of 2022. As per FMI, growing demand for project collaboration by large enterprises escalate the growth of project management software market. Project management software helps project managers to get real-time details of projects, making it simpler for enterprises to monitor status of projects.

The project management software also helps organizations to efficiently collaborate with team members. Additionally, the software accurately helps in the allocation of resources for a particular job, thereby lowering the overall cost.

Enterprises in North America are increasingly using advanced project management software to monitor the progress of any project. Thus, adoption of project management software solutions in the region is consistently rising increasing. The project management software market is anticipated to have remarkable growth opportunities for small and mid-sized Enterprises (SMEs).

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Key Takeaways: Project Management Software Market

• By solution, the project management software segment is anticipated to account for the leading share in the global demand for project management software during the forecast period. However, the services segment is estimated to grow at a robust CAGR of 10.9% through 2032.
• By industry, the IT & Telecom segment is anticipated to increase at a CAGR of 14.7% between 2022 & 2032.
• North America is expected to lead the market at a CAGR of around 9.5% through 2032 followed by Europe in 2022. South Asia and Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032.
• The market in Japan is expected to progress at a CAGR of around 15.4% through 2032.
• In India, sales are expected to increase at a CAGR of close 21.0% over the next ten years.

“The demand of project management software is increasing in the building and construction industry. To cater to this, vendors are offering highly innovative construction software that improves the project planning process. The software offers a safe and secure database for all details related to the project” says FMI analyst.

Budget Tracking Throughout Project Lifecycle to Drive Demand

The in-built budget tracking feature enables enterprises to automatically monitor project budget through the life cycle. The right project management software is one of the better way to prevent out of control spending and overrun costs.

Budget tracking feature enable users to know exactly where work stands and how much money and time has been spent, and supports users to precisely predict the cost and timeline for the whole project. Therefore, the benefit offered by the budget tracking feature in the project management software solution is driving the market demand.

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Competitive Analysis-

Oracle Corporation, ServiceNow, SAP SE, Elecosoft, NetSuite, Citrix Systems, Inc., Deltek, Inc., Unit4, Zoho Corporation Pvt. Ltd., Total Synergy, Hive, Digité, Inc., Wrike, Inc., MeisterLabs, monday.com, Basecamp, ProjectManager.com, Inc., Whizible, Zilicus Solutions, Asana, Atlassian

Project Management Software Outlook by Category

By Solution, Project Management Software Market is segmented as:

• Project Management Software
• Services

Enterprise Size segments as Project Management Software Market:

• Large Enterprises
• Small and Mid-sized Enterprises (SMEs)

By Industry, Project Management Software Market is segmented as:

• Building and Construction
• Retail
• Hospitality
• IT & Telecom
• Energy and Utilities
• Manufacturing
• Government
• Others

By Region, Project Management Software Sales is segmented as:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

Cloud-first Approach Becoming the Standard in Project Management

Cloud-based project management software organizes the collaborating, monitoring, delivering, and planning of a project. It enables project managers and teams to get work done utilizing a network of tools obtainable within the software, rather than utilizing a traditional method.

The usage of project management software scales from business to business. But, in all, it is created to make deadlines and managing projects simpler and more effective. Online Cloud-based project management tools offer a centralized place for document sharing and communication which results in high productivity for every team member without any financial costs. All cloud-based project management software such as ProofHub is made with outstanding technologies and undergo various security measures. Thus, cloud-based project management software is reliable and secure.

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

4. Pricing Analysis

4.1. Pricing Analysis, by Pricing Model

4.1.1. Subscription Model

4.1.2. Perpetual Licenses (One Time Fee)

4.2. Global Average Pricing Benchmark Analysis

5. Global Project Management Software Market Demand (in Value or Size in US$ Mn) Analysis 2017–2021 and Forecast, 2022-2032

5.1. Historical Market Value (US$ Mn) Analysis, 2017–2021

5.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032

5.2.1. Y-o-Y Growth Trend Analysis

5.2.2. Absolute $ Opportunity Analysis

6. Market Background

6.1. Macro-Economic Factors

6.2. Forecast Factors – Relevance & Impact

6.3. Value Chain

6.4. Market Dynamics

6.4.1. Drivers

6.4.2. Restraints

6.4.3. Opportunity Analysis

7. Global Project Management Software Market Analysis 2017–2021 and Forecast, 2022-2032, by Solution

7.1. Introduction / Key Findings

7.2. Historical Market Size (US$ Mn) Analysis By Solution, 2017–2021

7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Solution, 2022-2032

7.3.1. Project Management Software

7.3.1.1. Cloud-based

7.3.1.2. On-premise

7.3.2. Services

7.3.2.1. Managed Services

7.3.2.2. Professional Services

7.3.2.2.1. Consulting

7.3.2.2.2. Integration & Implementation

7.3.2.2.3. Support & Maintenance

TOC Continued…

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