Dublin, Dec. 05, 2018 (GLOBE NEWSWIRE) -- The "Task Management Software Market by Business Function (Marketing, Human Resource, Finance), Component (Software and Services), Deployment Type (Cloud and On-Premises), Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global task management software market size is expected to grow from USD 2.27 billion in 2018 to USD 4.33 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period.
The indispensable requirement to have centrally managed tasks is expected to be a major growth driver for the market. Due to the ever-changing customer requirements, a robust task management software is needed that can help enterprises manage all tasks from a central platform to save time, avoid loss of information, and delegate tasks. The increasing need to promote collaboration among teams for improving workforce utilization is another factor driving the growth of the task management software market. However, security concerns among enterprises regarding cloud-based task management software may hinder the growth of the task management software market.
The software segment is expected to hold the larger market size during the forecast period
The software segment is estimated to hold the larger market size in 2018. Task management software helps enterprises save time and money with respect to organizing and managing tasks and resources. An increasing need to streamline workflows and optimize resources would drive the adoption of task management software across industry verticals. The services segment is expected to grow at a higher CAGR during the forecast period, as organizations are focusing on reducing operational costs while providing a superior customer experience.
The cloud deployment type is expected to grow at a higher CAGR during the forecast period
In the task management software market, the cloud deployment type is expected to grow at a higher CAGR during the forecast period. The major factors driving the growth of the cloud segment are enhanced security features, interactive dashboards, ease of flexibility, and better scalability, which are encouraging enterprises across the globe to choose cloud deployment. Moreover, the cloud-based deployment type offers higher agility than the on-premises deployment type.
Asia Pacific (APAC) is expected to be the fastest growing region during the forecast period
APAC is expected to be the fastest growing region in the global task management software market during the forecast period. Rapid economic developments, globalization, digitalization, and the increasing adoption of cloud-based technologies are expected to drive the task management software market in the APAC region. The growing need for cost optimization, effective utilization of IT infrastructures, and workforce optimization is expected to propel the demand for task management software and associated services.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Task Management Software Market
4.2 Market By Industry Vertical (2018 vs 2023)
4.3 Market Share Across Major Regions
4.4 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need Among Enterprises to Centrally Manage and Track Tasks
5.2.1.2 Need to Promote Collaboration Among Teams and Improve Workforce Utilization
5.2.2 Restraints
5.2.2.1 Security Concerns Among Enterprises Regarding Cloud-Based Task Management Software
5.2.3 Opportunities
5.2.3.1 Recent Advancements in the Areas of AI and ML
5.2.3.2 Integration of Task Management Software With Other Third-Party Tools
5.2.4 Challenges
5.2.4.1 Presence of Many Open Source Or Free Vendors in the Task Management Software Market
5.2.4.2 Lack of Awareness Among Enterprises About Task Management Software
5.3 Industry Trends
5.3.1 Use Case 1: Meisterlabs
5.3.2 Use Case 2: Quick Base
5.3.3 Use Case 3: Quick Base
6 Task Management Software Market, By Business Function
6.1 Introduction
6.2 Marketing
6.3 Human Resource
6.4 Finance
6.5 Others
7 Market By Component
7.1 Introduction
7.2 Software
7.3 Services
7.3.1 Integration and Implementation
7.3.2 Consulting
7.3.3 Training and Support
8 Task Management Software Market, By Deployment Type
8.1 Introduction
8.2 Cloud
8.3 On-Premises
9 Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises
10 Task Management Software Market, By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Retail and Consumer Goods
10.4 Healthcare
10.5 IT and Telecom
10.6 Government
10.7 Real Estate and Construction
10.8 Travel and Hospitality
10.9 Media and Entertainment
10.10 Others
11 Task Management Software Market, By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.2 Canada
11.3 Europe
11.3.1 United Kingdom
11.3.2 Germany
11.3.3 France
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 Japan
11.4.3 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 South Africa
11.5.4 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Brazil
11.6.2 Mexico
11.6.3 Rest of Latin America
12 Competitive Landscape
12.1 Overview
12.2 Competitive Scenario
12.2.1 New Product Launches/Service Launches/Upgradations
12.2.2 Business Expansions
12.2.3 Acquisitions
12.2.4 Partnerships
13 Company Profiles
13.1 Introduction
13.2 Microsoft
13.3 Upland Software
13.4 Atlassian
13.5 Pivotal Software
13.6 Ringcentral
13.7 Azendoo
13.8 Asana
13.9 Bitrix Inc.
13.10 Doist
13.11 Monday.Com
13.12 Quick Base
13.13 Redbooth
13.14 Todo.Vu
13.15 Teamwork.Com
13.16 Workfront
13.17 Wrike
13.18 Zoho
13.19 Airtable
13.20 Basecamp
13.21 Clarizen
13.22 Evernote Corporation
13.23 Inflectra
13.24 Meisterlabs
13.25 Smartsheet
13.26 Timecamp
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