Global U.S and Asia Pacific personal productivity software market was valued at US$ 3,614.5 Mn in 2018 and is anticipated to grow at a CAGR of 13.6% over the forecast period to reach US$ 11,410.8 Mn by 2027. Technological advancements coupled with high number of offerings by market players is increasing the adoption of the application of productivity software tools, leading to growth of the U.S and Asia Pacific personal productivity software market over forecast period. Productivity software tools have been used for increasing the efficiency and effectiveness of the workforce and enhance quality of work. Historically, Microsoft Corporations’ software Microsoft Office suites dominated the market. Presently we are witnessing emergence of new productivity software market players from across the U.S. and Asia Pacific countries. With continuously growing number of market players in productivity software market, competition is becoming more stringent for new entrants to uniquely lace their product in market and generate value. This led to high investment in research and innovation of novel offerings for catering to a wide array of customers and industries. Presently newly introduced team collaboration tools for communicating with distant colleagues over work-related queries and sharing knowledge and content in real-time has pushed the boundaries of conventional for productivity software tools. For instance, in January 2020 Microsoft Corporation unveil-edit’s updated version of Teams platform for industries including pharmaceuticals, retail, manufacturing among others. Thus the continuous expanding scope of application of productivity software tools vary across industries are poised to boost the growth of U.S and Asia Pacific personal productivity software market over forecast period.
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Globalization of businesses and penetration of digital technologies have created a demand for high technology products to cater to the changing requirements of individuals and business organizations. Growing connectivity and data generation has mandated productivity software providers to integrate a state-of-the-art technologies in their offerings. Industry players in productivity software market are launching new products in combination with technologies such as cloud computing, Internet of Things (IoT), Artificial Intelligence and others or combining the capabilities of these technologies with their existing solutions. To cater the evolving deskless or non-conventional mobile workforce, and high amounts of data generated, industries are opting for modern solutions using cloud computing power for efficiently handling of workload and enhancing productivity. For instance, in 2019 AXA insurance partnered with Microsoft Corporation to deploy cloud based productivity software product Microsoft Azure to cater to their 105.0 million customers by replacing outdated emails and paper-based processes. Also, another technology, Artificial Intelligence is witnessing inflated popularity among new age industrial users of productivity software. For instance, Memory AS provides industries and individuals with an AI powered time tracking productivity tool called Timely which accesses the user’s data related to time spent on desktop and GPS location along with phone calls to present statistics of activities performed throughout the day. These advanced technology powered productivity software tools are poised to gain momentum with changing consumer requirements and boost the growth of U.S and Asia Pacific personal productivity software market over forecast years. The study analyses the market in terms of revenue across the U.S. and prominent countries in Asia Pacific region.
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The detailed research study provides qualitative and quantitative analysis of personal productivity software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across Asia Pacific and including U.S.
Key Findings of the Report:
- The U.S and Asia Pacific personal productivity software market was valued at US$ 2,849.3 Mn in 2018 and is anticipated to grow at a CAGR of 13.9% over the forecast period owing to rise in demand by growing skilled labor.
- Based on the type of deployment cloud based productivity software are anticipated to show highest growth rate owing to changing work culture and workplace environment.
- The document processing productivity tools are anticipated to grow at highest CAGR over forecast years owing to rising adoption by individuals and corporates to enhance their document quality.
- U.S held the highest market share in personal productivity software market in 2018 and is expected to register the highest compound annual growth rate (CAGR) over the period of next eight years. The rising investment in the region, both from public and private sectors, is anticipated to drive the growth.
- Some of the players operating in the personal productivity software market are Adobe, Atlassian, Corel Corporation, Flock FZ-LLC, Google LLC, Harvest, HyperOffice, Infraware, Kingsoft Office Software, Memory AS, Microsoft and Zoho Corporation Pvt. Ltd amongst others.
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U.S and Asia Pacific Personal Productivity Software Market:
- By Deployment Mode
- Cloud Based
- On Premise
- By Application
- Document Processing
- Team Collaboration
- Time Tracking
- Project Management
- Content Creation
- By End Users
- By Region
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
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