Global Online Project Management Software Market 2016-2020
About Online Project Management Software
The use of on-premises project management software in enterprises became a standard practice from early 2000s. After 2005, the demand for online project management software among SMEs and large enterprises began to increase because of its benefits such as low cost, improved scalability, agility, and efficiency. However, selecting the right solution that matches the requirements of the enterprise remained a challenge for the adoption of the software because of the presence of many vendors in the market providing proven capabilities such as shortened product development cycle as well as low deployment costs.
Technavio’s analysts forecast the global online project management software market to generate revenue of $1.52 billion during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global online project management software market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of online project management software.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Online Project Management Software Market 2016-2020
Technavio recognizes the following companies as the key players in the global online project management software market: Asana, Atlassian, Basecamp, Citrix Systems, Mavenlink, Microsoft, Smartsheet, Workfront, and Wrike.
Other prominent vendors in the market are: Active Collab, Clarizen, Fog Creek Software, iMeet Central, LiquidPlanner, Planbox, Project Manager, Redbooth, Targetprocess, TeamGantt, Teamwork, and Zoho Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increasing need for visibility and transparency. Online project management software provides the enterprise with a centralized repository where project related information related to files, assets, communication loops, and discussions on issue or problems faced by the team are stored. The centralized repository not only brings visibility and transparency in the business process but also enables all project team members to access, create, edit, and update tasks and project from any browser, anywhere, and anytime. Since the workflow is automated, the tasks are distributed to the team members automatically and the progress of tasks are also updated. This saves time for project managers and provides visibility and transparency to sponsors and executives as well.”
According to the report, one of the primary drivers in the market is increasing automation of project management process. In business verticals such as IT, manufacturing, and aviation, the process will be repetitive, predictable, and sequential — from initiation to completion. The business processes performed manually, or semi- automated are not time and cost efficient. In addition, the chances of occurrence of bottlenecks are also high. Hence, enterprises started to implement automated workflow using online project management software. The benefits of automated project management processes using online project management software are shown in the below exhibit.
Further, the report states that one major challenge in the market is data security and privacy. Many business organizations prefer online project management software over on-premises for its cost effectiveness and ease of accessibility. However, security of the solution is another factor that enterprises consider before adopting the solution. The implementation of online project management software increases the risk of revealing corporate project information to public or others due to security vulnerabilities in the web, which could result in the misuse or manipulation of data.
Asana, Atlassian, Basecamp, Citrix Systems, Mavenlink, Microsoft, Smartsheet, Workfront, Wrike, Active Collab, Clarizen, Fog Creek Software, iMeet Central, LiquidPlanner, Planbox, Project Manager, Redbooth, Targetprocess, TeamGantt, Teamwork, Zoho Corporation.
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