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The knowledge management software market is projected to grow by USD 4.82 billion with a CAGR of 13.55% during the forecast period 2021 to 2026.
This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by deployment (on-premise and cloud-based) and geography (North America, APAC, Europe, the Middle East and Africa, and South America). The market report also offers information on several market vendors, including Atlassian Corp. Plc, Bitrix Inc., Capgemini Service SAS, eXo Platform SAS, Freshworks Inc., International Business Machines Corp., Oracle Corp., ProProfs, SAP SE, Zendesk Inc., Zoho Corp. Pvt. Ltd., BMC Software Inc., Edubrite Systems Inc., eGain Corp., Igloo Inc., MangoApps Inc., SkyPrep Inc., SydneyPlus International Library Systems Corp., Upland Software Inc., and Yonyx Inc. among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market. During the COVID-19 pandemic, the market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Knowledge Management Software Market Driver
Skill development and employment are one of the factors driving the market's growth. Working professionals are focusing on skill development to achieve career growth and add value to their knowledge. For example, software professionals are required to learn the latest technologies, such as big data analytics and cloud computing. This trend has been noticed among all age groups of working professionals. Moreover, the majority of skilled professionals in IT companies are opting for digitized courses in order to keep abreast of the latest technology being implemented. Therefore, the increased adoption of skill development through online certifications on digitized platforms, especially in developed countries, is expected to fuel the market growth during the forecast period.
Key Knowledge Management Software Market Trend
The rising influence of data analytics in digital education is one of the key market trends fueling market growth. With the rapid adoption of digital devices, educational institutions and individual learners can monitor and analyze their real-time performance and progress with the help of embedded software analytics. Furthermore, data analytics are used in the predictive model in education through which virtual profiles are created based on student demographic details, assessment results, and online interactions. These are used to develop predictive learning models, which are able to generate insights into future students. This, in turn, will drive market growth during the forecast period.
Key Knowledge Management Software Market Challenge
Operational challenges associated with the software are one of the factors challenging the market's growth. Knowledge management software needs different critical features to fulfil the needs of different organizations. As organizations depend on personalized customer service interactions, faster support solutions and reduced service volume that increases customer satisfaction can pose a major challenge for the vendors while offering a particular solution. Although vendors provide customized software based on the needs of different applications, operational challenges have affected the calibration process in organizations. Such challenges will negatively impact market growth in the near future.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global knowledge management software market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying growth strategies such as technology, trait leadership, price, quality, and cost to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report market contains comprehensive market knowledge and an in-depth vendor landscape added to an analysis of the key vendors.
Our In-house experts produce extensive information on the value chain and parent market of the knowledge management software market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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39% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for knowledge management software in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing awareness among enterprises about knowledge management software as an important platform for business communication with customers will facilitate the market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 propelled the growth of the regional market. Furthermore, the increasing demand for knowledge management software from businesses to improve their efficiency and ensure continuity of the remote work process flow will lead to regional market growth during the forecast period
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The market share growth in the on-premise segment will be significant during the forecast period. On-premises knowledge management software is considered highly secure as it is managed and maintained by the enterprises that are using it. This software is mainly adopted by banking, financial services, and other industries. Enterprises have complete control over their on-premise solutions owing to monitored and restricted access. The on-premises deployment model allows them to customize the knowledge management software according to their requirements. Such factors of the segment will boost the market growth in the near future.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
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Knowledge Management Software Market Scope |
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Report Coverage |
Details |
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Page number |
137 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.55% |
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Market growth 2022-2026 |
$4.82 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
12.88 |
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Regional analysis |
North America, APAC, Europe, the Middle East and Africa, and South America |
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Performing market contribution |
APAC at 39% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Atlassian Corp. Plc, Bitrix Inc., Capgemini Service SAS, eXo Platform SAS, Freshworks Inc., International Business Machines Corp., Oracle Corp., ProProfs, SAP SE, Zendesk Inc., Zoho Corp. Pvt. Ltd., BMC Software Inc., Edubrite Systems Inc., eGain Corp., Igloo Inc., MangoApps Inc., SkyPrep Inc., SydneyPlus International Library Systems Corp., Upland Software Inc., and Yonyx Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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