Productivity Software - Worldwide

  • Worldwide
  • Revenue in the Productivity Software market is projected to reach CHF67.59bn in 2024.
  • Office Software dominates the market with a projected market volume of CHF24.78bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.76%, resulting in a market volume of CHF69.66bn by 2028.
  • In global comparison, most revenue will be generated in the United States (CHF34,190.00m in 2024).

Key regions: South Korea, Netherlands, United States, Canada, United Kingdom

 
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Analyst Opinion

The market for productivity software has been growing rapidly worldwide due to the increasing demand for technology that can help individuals and businesses manage their tasks efficiently.

Customer preferences:
Customers are increasingly looking for software that can help them manage their workloads more effectively. This includes software that can automate tasks, manage schedules, and improve communication. Additionally, customers are looking for software that can be accessed from multiple devices and platforms, allowing them to work on the go.

Trends in the market:
In the United States, the productivity software market has been dominated by Microsoft Office for many years. However, in recent years, there has been a shift towards cloud-based productivity software, with Google Workspace (formerly known as G Suite) becoming increasingly popular. This is due to the growing trend of remote work, as cloud-based software allows for collaboration and communication from anywhere in the world.In Europe, there has been a similar trend towards cloud-based software, with companies such as Zoho and Dropbox gaining popularity. Additionally, there has been a growing demand for software that is compliant with GDPR (General Data Protection Regulation) regulations.In Asia, the productivity software market has been growing rapidly, with China being a major contributor to this growth. The market is dominated by local companies such as Kingsoft and WPS Office, which offer low-cost alternatives to Microsoft Office.

Local special circumstances:
In Latin America, there has been a growing demand for productivity software that is available in Spanish and Portuguese. Additionally, due to economic instability in some countries, there has been a trend towards using open-source productivity software, such as LibreOffice.In the Middle East and Africa, there has been a growing demand for productivity software that is compliant with Islamic law. This includes software that does not include certain features, such as images of people or alcohol.

Underlying macroeconomic factors:
The growth of the productivity software market is largely due to the increasing adoption of technology worldwide. This is driven by factors such as the increasing availability of high-speed internet, the growing use of mobile devices, and the trend towards remote work.Additionally, the COVID-19 pandemic has accelerated the growth of the productivity software market, as many businesses have had to transition to remote work. This has led to an increased demand for software that allows for collaboration and communication from anywhere in the world.Overall, the productivity software market is expected to continue growing worldwide, driven by the increasing demand for technology that can help individuals and businesses manage their workloads more effectively.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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