According to the Gartner survey of 2020, 74 percent of companies are planning to shift to remote work post-COVID-19 permanently.
Online project management software can be a major benefit in these circumstances. Therefore, it is expected that demand for online project management software will increase this year and next according to a Persistence Market Research study.
Increasing requirements for large-scale project management is driving the online project management software market growth. Another major factor fueling the growth is the increasing requirements for large-scale project management.
Moreover, the capability of minimizing project risks and cost has directed small and medium enterprises to adopt the software for optimization of project management. Growing demand for automation of business process management is expected to fuel the online project management market growth. The customized offering of the industries expected to enhance the demand for project management software in the forthcoming years.
Here are some takeaways from the study
- By end user, large enterprises to grow at the fastest CAGR of 9 percent during the forecast period.
- North America is expected to grow at a high rate, with a CAGR of 7.7 percent during the forecast period
- The market for the United States is expected to be worth $ 1.9 billion by 2032, with a CAGR of 6.8 percent over the forecast period.
Major players such as ActiveCollab LLC, Apptio Inc., Asana Inc., Atlassian Corp. Plc., Basecamp LLC, Citrix Systems Inc., Clarizen Inc., LiquidPlanner Inc., Mavenlink Inc., Codleo, SAP, Microsoft Corp., Planbox Inc., Premiere Global Services Inc., ProjectManager.com Inc., Redbooth, Smartsheet Inc., TeamGantt, Teamwork Crew Ltd., Workfront Inc., Wrike Inc., Zoho Corp. Pvt. Ltd., among others are expected to dominate the market share in terms of revenue.
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