The "Productivity Software Publishing Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global productivity software publishing market was valued at about $74.85 billion in 2018 and is expected to grow to $102.58 billion at a CAGR of 8.2% through 2022.
The Productivity Software Publishing market consists of sales of productivity software. Productivity software is an application dedicated to producing information, such as documents, presentations, worksheets, databases, charts, graphs, digital paintings, electronic music and digital video, excluding operating systems.
The North American Market is the largest market for Productivity Software Publishing and is expected to continue to do so during the forecast period
Automation in any field would increase the efficiency and would therefore increase the profit margins. The productivity software publishing market is driven by cloud based technology. Cloud based productivity software allows all the team members to share, collaborate and communicate on projects effectively not having to physically meet/share anything on disc/USB. The cloud-based software enhances the work flow by making it simpler and easy to work with. This easy platform could deliver many applications involving the graphics software, spreadsheet applications, database management systems and word processors to the end users.
Also, the cloud-based software controls, safeguards and install the software automatically without having to physically monitor it. Due to the software's ability to turn the technical power of these software tools into strategic action, managers are better positioned to gain visibility into how workers are fulfilling their responsibilities and take steps to ensure they reach crucial milestones. Examples of cloud-based productivity software includes Microsoft office 365, Zoho office online suite, Apple iWork etc.
Interoperability is defined as the ability of computer systems or software to exchange and make use of information. While the other definition could be, the ability of customers to use the same management tools, server images and other software with a variety of cloud computing providers and platforms. It could as well mean the ability of applications to move from one environment to the next, for example, from Savvis to Amazon, and for the applications to work exactly the same in both places.
This challenge of compatibility of the productivity software with various systems may hinder the markets growth. For example, for moving physical applications to the Amazon EC2 cloud, first it had to convert the applications to a virtualized version before moving onto the cloud due to compatibility issues, thus increasing the costs and time required for the project.
The advancements in technologies using productivity software is aimed for delivering better consumer satisfaction, decreasing human effort and ensuring the work efficiency. These advancements developed new tools to collaborate and provide round the clock opportunity to engage. Productivity software tools allow to communicate/comment on each task. Some even give you the ability to assign comments to a team member, which then turns into a subtask. For example, Clickup, a productivity software publication startup, has created hybrid working platform that combines all the tools and capabilities to setup goals for the team. The company uses its advanced technologies and pays attention to details and has thus acquired clients such as Uber, Google and Nike.
Any organization that work with customer data are required to comply with General Data Protection Regulation (GDPR). The organization should come up with new data managing plans depending on the GDPR rules setup by different countries and as well appoint a data protection officer or data controller who is in charge of GDPR compliance. GDPR gives right to the people to manage their data collected through productivity software. Whenever company is processing personal data it needs to comply with the GDPR. For example, MS office has introduced Data Subject Requests (DSR) systems which capture, clean and harmonizes large data sets so the data can be retrieved later in case of any breach of customer data.
Major players in the market are Microsoft Corporation, IDoneThis, Oracle, Google (Alphabet Inc), IBM.
Apache Software Foundation
Kdan Mobile Software
Kingsoft Office Software
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191211005659/en/
SOURCE: Research and Markets
Laura Wood, Senior Press Manager
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