The Asia Pacific Project Management Software Market would witness market growth of 14.7% CAGR during the forecast period (2023-2030).
SaaS-based project management tools are increasingly being used by major businesses and SMEs. Prominent project management solution providers are working together to build effective solutions to meet the challenge of overseeing projects. Leading companies are now providing project management software along with project portfolio management systems, making it simpler for portfolio managers to handle new project management demands, prioritize them, and add projects to specific portfolios where the objectives and goals of a project will align with the overarching business goals.
In the building & construction sector, project management software is in high demand. Construction companies can improve communication, maintain tabs on their staff, and manage documentation and budgets using project management software. All of this improves the organization of construction companies, enabling long-term commercial growth. Consequently, the rise is fueled by the growing need for software in the building & construction sector. There has been an increase in construction work.
Asia Pacific is predicted to offer several development opportunities for the market due to growing investments in deploying digital transformation solutions as well as technology across industries. Additionally, regional nations are trying to increase various industries' efficiency, output, and growth. For example, in India, the National Manufacturing Policy of India, which is supported by the current administration's "Make in India" campaign, has as its top priorities increasing manufacturing's contribution to the GDP to 25% as well as generating 100 million manufacturing jobs, demonstrating the country's belief in the importance of manufacturing for development. These actions are predicted to strengthen the market's position in the region.
The China market dominated the Asia Pacific Project Management Software Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,375 million by 2030. The Japan market is anticipated to grow at a CAGR of 14% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 15.4% during (2023 - 2030).
Based on Component, the market is segmented into Solution (Activity Scheduling, Project Portfolio Management, Document Management, Resource Management, Issue Tracking, and Others) and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Vertical, the market is segmented into Telecom & IT, BFSI, Engineering & Construction, Healthcare & Lifesciences, Government, Manufacturing and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Project Management Software Market is Projected to reach USD 17.75 Billion by 2030, at a CAGR of 13.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adobe, Inc., Microsoft Corporation, Broadcom, Inc., Oracle Corporation, SAP SE, Zoho Corporation Pvt. Ltd., ServiceNow, Inc., Atlassian Corporation PLC, Monday.com Labs Ltd. and Smartsheet, Inc.
By Component
By Enterprise Size
By Deployment Type
By Vertical
By Country
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