Project Management Software Market to Surge at 13.1% CAGR, Reaching US$ 20,420.6 Million by 2032

The project management software market is experiencing remarkable growth, with projections indicating that it will reach an impressive valuation of approximately US$ 20,420.6 million by the year 2032. This substantial expansion is set to transpire at a (CAGR) of 13.1% over the course of the decade, starting from 2022.

This robust growth trajectory underscores the increasing significance of project management software in today’s dynamic business landscape. As organizations continue to prioritize efficiency, collaboration, and the streamlining of their projects and tasks, the demand for sophisticated project management software solutions is poised to remain on a steady upward trajectory, propelling the market to new heights in the coming years.

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Key Takeaways From The Project Management Software Market Report:

  • By solution, the project management software segment is anticipated to account for the leading share in the global demand for project management software during the forecast period. However, the services segment is estimated to grow at a robust CAGR of 10.9% through 2032.
  • By industry, the IT & Telecom segment is anticipated to increase at a CAGR of 14.7% between 2022 & 2032.
  • North America is expected to lead the market at a CAGR of around 9.5% through 2032 followed by Europe in 2022. South Asia and Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032.
  • The market in Japan is expected to progress at a CAGR of around 15.4% through 2032.
  • In India, sales are expected to increase at a CAGR of close to 21.0% over the next ten years.

Budget Tracking Throughout Project Lifecycle to Drive Demand:
The in-built budget tracking feature enables enterprises to automatically monitor project budgets through the life cycle. The right project management software is one of the better ways to prevent out-of-control spending and overrun costs.

The budget tracking feature enables users to know exactly where work stands and how much money and time has been spent and supports users to precisely predict the cost and timeline for the whole project. Therefore, the benefit offered by the budget tracking feature in the project management software solution is driving the market demand.

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Leading Key Players:

  • Oracle Corporation
  • ServiceNow
  • SAP SE
  • Elecosoft
  • NetSuite
  • Citrix Systems, Inc.
  • Deltek, Inc.
  • Unit4
  • Zoho Corporation Pvt. Ltd.
  • Total Synergy
  • Hive
  • Digité, Inc.
  • Wrike, Inc.
  • MeisterLabs
  • monday.com
  • Basecamp
  • ProjectManager.com, Inc.
  • Whizible
  • Zilicus Solutions
  • Asana
  • Atlassian

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Project Management Software Market Segmentation:

By Solution:

  • Project Management Software
    • Cloud-based
    • On-premise
  • Services
    • Professional Services
      • Consulting
      • Implementation & Integration
      • Support & Maintenance
    • Managed Services

By Enterprise Size:

  • Large Enterprises
  • Small and Mid-sized Enterprises (SMEs)

By Industry:

  • Building and Construction
  • Retail
  • Hospitality
  • IT & Telecom
  • Energy and Utilities
  • Manufacturing
  • Government
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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