Pune, India, Oct. 04, 2022 (GLOBE NEWSWIRE) — The world Online Project Management Software Market size is expected to increase rapidly due to the rapid emergence and spread of remote work trends around the world amid the COVID-19 pandemic, Fortune Business Insights™ finds in its report, titled “Online Project Management Software Market Size, Industry Share & Analysis, By Deployment (On-Premise, Cloud), By Company Size (Large Enterprise, SMB), By Industry (BFSI, IT & Telecom, healthcare, retail, manufacturing) and regional forecast, 2022-2029”. The coronavirus pandemic has taken a toll on businesses, which have been forced to set up work-from-home systems for their employees to keep them safe. This has resulted in remote work experience in the corporate world on an unprecedented scale.
For example, in the United States, approximately 4.7 million employees work from home for at least half a week. However, companies are constantly growing and expanding their operations, which requires the adoption of digital tools to effectively manage their projects. Online project management software solutions have therefore gained popularity in the business world. Zoho Corp, for example, is seeing growing demand for its software solutions, with the company planning further expansion in India and aiming to hit the one million customer mark soon. Thus, COVID-19 pandemic is expected to create unprecedented opportunities for players in this Online Project Management Software market.
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What does this report offer?
- Detailed information on the main market segments;
- Tangible analysis of market trends, drivers and restraints;
- Comprehensive assessment of regional opportunities; and
- In-depth examination of the competitive landscape of the market.
Availability of project management software for the construction industry to enable growth
A major factor fueling the growth of the online project management software market is the growing availability of project management software for the construction industry. For example, Autodesk’s BIM 360 is an online project management tool designed specifically for the construction industry, enabling managers to accelerate project completion while staying on budget, adhering to industry standards industry and following safety rules and project requirements.
Similarly, Jonas Premier by Jonas Construction was designed as a cloud-based construction software to enable construction companies to automate workflows and access profitable opportunities. These software solutions for the construction industry have added importance in the current pandemic situation, which has hampered construction activities and reduced on-site productivity. However, the global construction industry is still expected to grow exponentially over the next decade, especially in developing economies, which will favor this market.
Proliferation of SMEs in Asia-Pacific to enable the region to dominate the market
Asia-Pacific is expected to dominate the online project management software market share in the foreseeable future owing to the growing adoption of advanced business process systems in booming small and medium-sized enterprises (SMEs) of the region. In addition to this, businesses in the region are also regularly adopting cloud management solutions to improve their efficiency and attract customers, which bodes well for this market.
In North America, the growing number of tech startups and the strong presence of global tech giants such as Microsoft and Google will create ideal growth conditions for the market. In Europe, on the other hand, rapid adoption of advanced software for process optimization will propel the growth of the regional market.
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What does the report contain?
The Online Project Management Software Market report contains details about all the latest technologies available in the Industrial Networking Solutions industry. The technological advancements being made in the industry were highlighted and the potential opportunities associated with them. The report establishes the market challenges and offers different solutions. It also mentions the growth-enhancing factors, restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
Market segmentation :
|By business size|
| By industry
| By geography
Key players to invest in developing smart management tools
Major competitors in this market are making strategic investments to develop project management tools powered by smart technologies such as artificial intelligence (AI) and machine learning (ML). This allows them to design scalable products, which not only strengthen their portfolios, but also strengthen their position in the market.
- October 2020: Wrike announced major upgrades to its project management platform, incorporating artificial intelligence capabilities to keep individual projects on track and on schedule. The AI upgrade will also provide new solutions for marketers and managers in large organizations.
- January 2020: Clubhouse, a collaborative platform for software teams, has secured Series B funding, bringing its total funding to $39 million. With this new round of funding, Clubhouse aims to accelerate its capacity for product innovation as the company aims to cross the one million customer mark in 2021.
Companies Covered in the Online Project Management Software Market Report:
- ProjectManager.com, Inc.
- Nulab, Inc.
- Asana, Inc.
- Smartsheet, Inc.
- Zoho Corporation Pvt. ltd.
- Base camp
- Zapier, Inc.
- Wrike, Inc.
- OpenProject GmbH
Pre Book – Online Project Management Software Market Report:
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