TMCnet News
Global Task Management Software Market to 2023 - Recent Advancements in the Areas of AI and ML Present OpportunitiesDUBLIN, Sept 19, 2018 /PRNewswire/ -- 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 major factors driving the market growth include the digital transformation initiatives that have led to improved IT systems to meet customers' dynamic requirements. The major industry verticals in the market include Banking, Financial Services, and Insurance (BFSI); retail and consumer goods; and Information Technology (IT) and telecom; and real estate and construction. The report segments the task management software market by business function, component, deployment type, organization size, industry vertical, and region. The software segment is estimated to dominate the market in 2018, while the services segment is expected to grow at a higher CAGR during the forecast period. Task management software and services are gaining popularity, as they empower enterprises to meet their project management requirements in a cost-effective manner. Among deployment types, the cloud deployment type is expected to gain more traction during the forecast period, as it offers the agility of on-demand resource deployment and consumption. Organizations prefer the cloud deployment type, as it delivers ease of access along with reduced capital and operational expenses. The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. The growing need to reduce operational costs and streamline workflows is expected to drive the adoption of task management software and services among SMEs. Enterprises in industry verticals such as BFSI, retail and consumer goods, healthcare, IT and telecom, government, real estate and construction, travel and hospitality, media and entertainment, and others (transportation and logistics, automotive, and energy and utilities) are rapidly adopting task management software and services to optimize their workforce utilization. The IT and telecom industry vertical is expected to hold the largest market size during the forecast period, while the retail and consumer goods industry vertical would present prospective opportunities for task management software vendors during the forecast period. The market has also been segmented into 5 major geographic regions, namely, North America, The task management software helps organizations with workforce optimization and project management. Enterprises adopting the task management software usually face security and privacy issues. These enterprises possess confidential data that needs to be protected to avoid data breaches and thefts, as such incidents may affect the reputation of the enterprises. These could be the restraining factors for the growth of the task management software market. Key Topics Covered: 1 Introduction For more information about this report visit https://www.researchandmarkets.com/research/lxr4fl/global_task?w=5 Media Contact: Research and Markets
View original content to download multimedia:http://www.prnewswire.com/news-releases/global-task-management-software-market-to-2023---recent-advancements-in-the-areas-of-ai-and-ml-present-opportunities-300715321.html SOURCE Research and Markets |