The North America Project Management Software Market would witness market growth of 13.1% CAGR during the forecast period (2023-2030).
Planning, scheduling, resource allocation, and change management are all done with project management software. It might be utilized as a management system to give project stakeholders, managers, and clients control over costs, budgeting, quality assurance, and documentation. Currently, the market accounts for a sizeable portion of revenue in the business process management sector.
Project management software involves planning, collaborating, monitoring, and delivering a project. These activities employ integrated functions like budget management, collaboration tools, document management, and task management that are completely customizable based on enterprise business needs. In the years to come, organizations using automated project management software to perform basic project management chores and activities automatically are expected to drive significant market growth. The rise in business process automation as well as digitalization across several sectors, including healthcare, BFSI, telecom, engineering, and construction, has fueled the need for analytical and monitoring solutions to boost output and operational effectiveness.
The most potential has been exhibited by North America across all sectors, including retail, eCommerce, telecom, and BFSI. Furthermore, the public sector as well as the government have joined the race to create cutting-edge technologies to cater to a big consumer base. North America, which is expected to keep growing, thus has a significant impact on the need for assisting technologies like ML and AI. The increased demand among businesses for efficient project tracking and management is expected to drive the region's implementation of PMS. The market is expanding due to businesses emphasizing fostering employee collaboration and boosting team productivity. In the upcoming years, this will significantly help the regional market.
The US market dominated the North America Project Management Software Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $4,787.9 million by 2030. The Canada market is poised to grow at a CAGR of 15.7% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 14.7% 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 U.S., Mexico, Canada, and Rest of North America.
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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