Task Management Software Market – Growth, Trends, and Forecasts (2020 – 2025)
The Task Management Software Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The task management software market is expected to reach USD 4.72 billion by 2025 from the present estimate of USD 2.35 billion in 2019 at a CAGR of 12.32% during the forecast period.
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Top Leading Companies of Task Management Software Market are Microsoft Corporation, Upland Software, Inc., Atlassian Corporation, Inc., RingCentral, Inc., Pivotal Software, Inc., Asana, Inc., Azendoo SAS, QuickBase, Inc., Redbooth, Inc., Workfront, Inc. and others.
Industry News and Updates:
– May 2020 – Quick Base Inc, a low-code platform for operational agility, added new functionality, the drag-and-drop integration and automation capabilities that enables users in the organization to connect data and insights across hundreds of cloud and on-premise solutions (including HubSpot, Dropbox, DocuSign and more) and build automated workflows for repetitive tasks, a practice commonly known as citizen integration. The introduction of safe, secure integration and automation capabilities for business users makes it the most complete low-code platform for delivering operational agility and insights.
– January 2020 – Upland Software, Inc., one of the players in cloud-based enterprise work management software, launched Upland Intelligent Capture, a solution to end-to-end document workflow automation. It will offer customers secure document capture, enterprise-class fax with secure document distribution with robust document and workflow automation in a multi-tenant cloud, on-premises, or as a hybrid solution.
Key Market Trends:
Travel and Transportation are Expected to Witness Moderate Growth and Drive the Market
– According to the WTTC 2019 report, the travel and tourism sector experienced 3.5% growth and outpaced the global economy (2.5%) for the ninth consecutive year. Over the past five years, one in four new jobs were created by the sector and has generated 10.3% of global GDP. This data reflects sectors’ significant growth in the coming years.
– The travel businesses require synergy between different departments teams performing various functions starting from ticket booking, hotel reservations, travel itineraries, and payments. Hence, most of the key vendors rely on task management software to simplify the process and reduce the interdependency and risk of overlapping timelines.
– Moreover, emerging technologies such as the release of 5G, advancements in artificially intelligent, and improved voice search are some of the technological disruptions that will create new ways for travel companies to engage with customers and their revenue stream.
– Currently, companies are emphasizing on digital marketing such as video marketing, banner ads, blogging, and content marketing to generate new leads and to maintain their market position. So, they are hugely dependent on task management software for their marketing activities. It is expected that the market will dominate in marketing business functionality due to the increase in internet penetration and competition in travel sector.
The regions are further sub-divided into:
-North America (NA) – US, Canada, and Mexico
-Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
-Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
-Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
-Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
Influence of the Task Management Software market report:
-Comprehensive assessment of all opportunities and risk in the Task Management Software market.
– Task Management Software market recent innovations and major events.
-Detailed study of business strategies for growth of the Task Management Software market-leading players.
-Conclusive study about the growth plot of Infrared Imaging market for forthcoming years.
-In-depth understanding of Task Management Software market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Task Management Software market.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Task Management Software Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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