The research report 2020 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Task Management Software market report provides information regarding market size, share, trends, growth, cost structure, Task Management Software market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2025.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Task Management Software market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Task Management Software industry and provides data for making strategies to increase market growth and effectiveness.
Microsoft Corporation, Upland Software, Inc., Atlassian Corporation, Inc., RingCentral, Inc., Pivotal Software, Inc., Asana, Inc., Azendoo SAS, QuickBase, Inc., Redbooth, Inc., Workfront, Inc., and others.
– According to the WTTC 2019 report, the travel and tourism sector experienced 3.5% growth and outpaced the global economy (2.5%) for the ninth consecutive year. Over the past five years, one in four new jobs were created by the sector and has generated 10.3% of global GDP. This data reflects sectors’ significant growth in the coming years.
– The travel businesses require synergy between different departments teams performing various functions starting from ticket booking, hotel reservations, travel itineraries, and payments. Hence, most of the key vendors rely on task management software to simplify the process and reduce the interdependency and risk of overlapping timelines.
– Moreover, emerging technologies such as the release of 5G, advancements in artificially intelligent, and improved voice search are some of the technological disruptions that will create new ways for travel companies to engage with customers and their revenue stream.
– Currently, companies are emphasizing on digital marketing such as video marketing, banner ads, blogging, and content marketing to generate new leads and to maintain their market position. So, they are hugely dependent on task management software for their marketing activities. It is expected that the market will dominate in marketing business functionality due to the increase in internet penetration and competition in travel sector.
– The outbreak of COVID-19 has completely disrupted the tourism sector, and so has weakened the task management software market. According to the research conducted by the World Tourism Organization (UNWTO) on 6th of April 2020, 96% of all worldwide destinations have introduced travel restrictions in response to the pandemic and around 90 destinations have completely or partially closed their borders to tourists, while a further 44 are closed to certain tourists depending on the country of origin.
– Moreover, International tourist arrivals could decline by 20% to 30% in 2020. This can lead to the loss of millions of jobs in the global tourism industry for at least next few months.
– The task management software market is expected to experience signification growth in Asian countries due to increasing investment in technologies and surging adoption of cloud services in many sectors such as banking, retail, manufacturing, and pharmaceuticals.
– For instance, Indian IT’s core competencies and strengths have attracted significant investments from major countries. The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth USD 43.58 billion between April 2000 and December 2019 and ranks second in an inflow of FDI, as per data provided by the Department for Promotion of Industry and Internal Trade (DPIIT).
– Moreover, February 2020, Tata Consultancy Services has received a contract of USD 1.5 billion from pharma company Walgreens Boots Alliance which is expected to help sustain the growth of the market in the forecast period.
– Japan, the world’s third-largest economy, with a massive pool of highly educated, motivated workers, easy access to Asia and other countries, and welcoming governmental initiatives are successfully generating opportunities for foreign businesses. For instance, Japan retail sector is expanding as a number of international brands are investing in expanding their footprints in the country.
– In June 2020, Ikea, Sweden retail chain, opened its first compact store in Tokyo, occupying a two-story, 2500sqm space. Similarly, the Spanish fashion brand Ecoalf has opened its first Japanese flagship store in Tokyo. The retail sector in Japan is expanding and is expected to compel the task management software market in the future.
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