Knowledge Management Software Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast 2024-2028

Knowledge Management Software Market 2024-2028 

The knowledge management software market size is forecast to increase by USD 25.30 billion at a CAGR of 14.41% between 2023 and 2028. The market size is. The key factor driving market growth and forecasting is the growing emphasis on personalized learning. Traditional exam-oriented learning is transitioning to a learner-centric, interactive approach, facilitated by management systems and acquisition systems. Market players like Comaround and LiveAgent offer creation platforms bundled with analytical tools, enabling monitoring and improvement of the learning process.

AI-enabled knowledge management software is a primary trend, empowering businesses with real-time solutions and advanced business intelligence. Incorporating transfer tools and extraction tools, AI facilitates quicker and more accurate decision-making, driving market growth analysis in the global market during the forecast..

What will be the size of the Market During the Forecast Period?

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Market Segmentation By Deployment

The market share growth by the on-premises segment will be significant during the forecast period. On-premises deployment of software is viewed as favorably secure as it is operated and supported by the enterprises that are using it. This software is mostly adopted by the banking, financial services, and insurance (BFSI) and healthcare sectors. Market players such as Helpjuice, Inc. offer on-premises knowledge management software.

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The on-premises segment showed a gradual increase in the market share of USD 11.11 billion in 2018. In an on-premises deployment, an organization can significantly customize solutions, including database structure. Large organizations such as governments are expected to adopt the on-premises model owing to high security and ease of access to data and information. This will drive the growth of the on-premises segment, thereby driving the global market during the forecast period.

Market Segmentation By End-user

One of the key factors fueling the growth of the market across large enterprises is the increasing demand for customer retention and satisfaction on a global scale. In addition, large enterprises have adequate funding to adopt advanced technology, including knowledge management software solutions, which in turn is expected to fuel the growth of the large enterprises, thereby driving the global market to grow during the forecast period.

Regional Overview

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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Countries such as the US and Canada are among the most technologically advanced countries and pioneers in the adoption of knowledge management platforms across the globe. The regional market is also expected to grow due to the increasing awareness among enterprises about it as an important platform for business communication with customers.

Therefore, several market players in countries such as the US are indulging in product launches to expand these solutions for enhanced customer experience and provide specific solutions and product-specific navigation. Thus, such developments will drive the demand for knowledge management software in the region, thereby driving the regional market during the forecast period.

Market Dynamics and Customer Landscape

The market is propelled by a myriad of factors, including Representation Platforms and Management Systems that facilitate efficient information organization. Collaboration Tools and Sharing Platforms enable seamless collaboration among teams, fostering innovation and productivity. Document Systems and Repository Software ensure secure storage and retrieval of critical data, enhancing Information Management. Trends indicate a shift towards more advanced Data Organization and Content Platforms, accommodating diverse data types and formats.

Challenges in this market include ensuring effective Data Retrieval and Transfer Tools, especially with the exponential growth of data. Additionally, integrating various systems and platforms poses a challenge in maintaining consistency and interoperability. However, opportunities lie in the development of Capture Solutions and Mapping Software, which enable efficient knowledge acquisition and organization. Discovery Tools and Creation Platforms further enhance the accessibility and usability of knowledge assets. Overall, the market continues to evolve to meet the increasing demand for robust information management solutions.

Key Market Driver

Growing emphasis on personalized learning is the key factor driving market growth and forecasting. There has been a growing shift from traditional exam-oriented learning to an interactive, practical, example-based learning approach over the last few years. Teachers and prescribed printed textbooks are the sole dispensers of educational information in the traditional learning model, whereas the new learning approach is more learner-centric. With market players such as Comaround, LiveAgent, and Zendesk, bundling analytical tools with digital education content allows students, parents, and teachers to monitor the learning activity and incorporate necessary steps to improve the learning process.

Moreover, a key feature of personalized learning is the early detection of significant improvement areas in learners. Furthermore, with the help of data analytics, these institutions can tailor individual learning patterns for learners and assess their progress through periodic tests and assignments. Hence, the rise in popularity of personalized learning is expected to drive market forecasting during the forecast period.

Significant Market Trends

The use of AI with knowledge management software is the primary trend shaping market growth analysis. Digital change in businesses is an effort to create connected platforms and new industry revenue streams. Many enterprises are opting for real-time solutions, in addition to spending on IT infrastructure and analytical solutions, to have a competitive advantage in market research and growth. Modern businesses are marked by an increase in the need for advanced business intelligence (BI).

In addition, AI provides the mechanisms to enable the machine to learn. It will help make decisions more quickly, efficiently, and accurately by involving artificial intelligence in the delivery of knowledge. Machine Learning in the delivery of knowledge relies on data that is trained to train machine learning algorithms. Therefore, the advantages of using AI-driven knowledge management software are expected to lead to an increase in the demand for knowledge management software, thereby driving the global market growth analysis during the forecast.

Major Market Challenge

Operational challenges associated with software are a challenge that affects market growth. Knowledge management software needs different critical features to meet the needs of different organizations. As organizations rely on personalized customer service interactions, faster support solutions and decreased service volume that increase customer satisfaction can be a major challenge for companies when offering a particular solution. Although market players deliver customized software based on the requirements of applications, operational challenges have affected the calibration process in organizations.

Moreover, a few operational changes to using knowledge management software are needed to access the database due to version discrepancies and computer issues, difficulty in personalizing certificates and reports, lack of editing capabilities, requiring strong local IT infrastructure instead of the basic plug-and-play option, requires constant training of operators for customization of reports generated by the software. Thus, the operational challenges associated with software are expected to impede the growth of the market during the forecast period.

Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Atlassian Corp. Plc: The company offers knowledge management software, namely Confluence to keep knowledge organized, up-to-date, and discoverable for teams of all types and sizes.
• Bloomfire Inc.: The company offers knowledge management software, namely Bitrix24 which has a Mind Map feature that helps to visualize personal and team objectives.
• eXo Platform SAS: The company offers knowledge management software such as eGain knowledge AI which provides solutions to customer questions, guide processes, and helps in decision-making.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• BMC Software Inc.
• eGain Corp.
• Freshworks Inc.
• HCL Technologies Ltd.
• Igloo Inc.
• International Business Machines Corp.
• MangoApps Inc.
• Oracle Corp.
• ProProfs
• SAP SE
• SkyPrep Inc.
• Tata Consultancy Services Ltd.
• Upland Software Inc.
• Zendesk Inc.
• Zoho Corp. Pvt. Ltd.
• Bitrix Inc.
• Notion Labs Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

In the Knowledge Management Software Market, cutting-edge solutions drive efficiency and innovation. Integration Software seamlessly merges diverse data sources, while Architecture Solutions ensure robust system frameworks.

Governance Systems and Security Software safeguard sensitive information, while Analytics Tools and Visualization Platforms provide valuable insights. Through Lifecycle Management and Retention Solutions, organizations optimize knowledge utilization and preservation.

Utilization Tools and Accessibility Solutions empower users to access and leverage knowledge effectively, promoting best Practices across the enterprise. Enterprise Solutions offer comprehensive platforms for managing Knowledge Repositories and enhancing Search Functionality.

Workflow Automation and Knowledge Mapping streamline processes, while Expert Systems and Semantic Analysis enable intelligent decision-making. Natural Language Processing facilitates seamless interaction with data, enhancing user experience.

With the shift towards Cloud-Based Solutions, organizations embrace scalability and flexibility in knowledge management. These advanced solutions propel the market forward, facilitating collaboration and innovation across industries.

As organizations recognize the value of knowledge management, investing in sophisticated software becomes imperative. With the right tools and strategies in place, businesses can harness the power of knowledge to drive growth and competitive advantage.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2022.

• Deployment Outlook
  • On-premises
  • Cloud-based

• End-user Outlook
  • Large enterprises
  • SMEs

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile 
    • Brazil 
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Scope
Report Coverage	Details
Page number	168
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 14.41%
Market Growth 2024-2028	USD 25.30 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	13.44
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 40%
Key countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Atlassian Corp. Plc, Bloomfire Inc., BMC Software Inc., eGain Corp., eXo Platform SAS, Freshworks Inc., HCL Technologies Ltd., Igloo Inc., International Business Machines Corp., MangoApps Inc., Oracle Corp., ProProfs, SAP SE, SkyPrep Inc., Tata Consultancy Services Ltd., Upland Software Inc., Zendesk Inc., Zoho Corp. Pvt. Ltd., Bitrix Inc., and Notion Labs Inc.
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, Market condition analysis for the forecast period.
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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, APAC, Europe, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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