III. Industry Analysis
3.1 Industry Profile
The project management software market currently represents nearly 35% of overall business process management sales.1
The market is anticipated to grow significantly in the upcoming years as businesses use automated project management software to carry out fundamental project management duties and functions automatically. The growth of the market for project management software is attributed to factors such as the increasing adoption of software for efficient resource management and the growing need for software that aids in reducing project risks and costs.
3.2 Market Size
The project management software market revenue totaled $5.36 billion in 2021. It is anticipated to reach $20.42 billion by 2032, growing at a CAGR of 13.1% from 2022 – 2032. 2
The project management software demand is expected to increase at 13.1% CAGR between 2022 and 2032 compared to the 10.3% CAGR registered during 2017-2021. 3
The global market trends for project management software are expected to receive a boost from the software's ability to integrate multiple disparate systems.
2.https://www.futuremarketinsights.com/reports/project-management-software-market
3.https://www.futuremarketinsights.com/reports/project-management-software-market
