The Boom in Productivity Industry!
Tons of water has flown down the river Thames and since then, the productivity space aka industry has grown by leaps and bounds.
What the heck is going on!
What is Productivity Software?
Productivity software (also called personal productivity software or office productivity software) is application software used for producing information (such as documents, presentations, worksheets, databases, charts, graphs, digital paintings, electronic music, and digital video).
Productivity software makes your work and personal tasks easier and more efficient to complete. Sometimes it does so directly and sometimes indirectly. Whatever your profession or personal ambitions, the right productivity apps can help you reach your deadlines and goals.
Market Size I Productivity Software
The global productivity software market was valued at USD 33.0 Billion in 2018.
One of the most common and perpetual efforts of every business is to improve their productivity to maximize the value generated per unit of resource utilized.
Process improvement techniques such as Six Sigma, Kaizen, etc., are now industry benchmarks. These techniques are enabled by the use of productivity software that helps monitor and manages processes by collecting process data, registering abnormalities, raising notifications, and offering predictive analytical capabilities to prevent process deviations.
Productivity Software Market is expected to grow at 16.5% CAGR to hit $96.36 Bn by 2025. The US is anticipated to dominate the productivity software market with an estimated market share of 60.7% in the year 2025. Increasing the use of productivity software to monitor and manage the work processes is helping in achieving resource efficiency, quicker turnarounds, faster processes, and reduced cost across industry verticals.
The Future of Productivity Apps
Francesco D’Allesio is considered to be one of the stalwarts in productivity app reviews and published his blog on this subject sometime back. Check it out here.
The kind of growth that doesn’t only translate to more dollars in your bottom line, but one that also generates customer satisfaction.
Whether you are a business or an entrepreneur, you can benefit from technological solutions especially productivity apps which are the most time-saving innovations of our day.
There will be many kinds of productivity apps running on machine learning to enable businesses and entrepreneurs to save time and resources while taking care of tasks that would otherwise consume too much of those in the real world.
Feel free to check out my YouTube video that talks about AI insurgence on productivity apps!