What is the global market size of Knowledge Management Software Market?

Knowledge Management Software Market was valued to be USD 23.45 billion in 2021, and it is expected to reach USD 58.81 billion by 2028 at a CAGR of 12.5% over the forecast period (2022 -2028).

Who are the key vendors in the Global Knowledge Management Software Market?

The market for knowledge management software is highly fragmented, and suppliers are utilizing growth tactics to get an advantage over rivals. These methods include concentrating on technology advancements to deliver a cost-effective product range. Latest acquisitions and mergers among the major players have been an approach used by corporate organizations to expand their consumer base. 'Freshworks Inc. (US)', 'Atlassian Corporation Plc (Australia)', 'Exo Platform (France)', 'Bitrix24 Inc. (US)', 'ProProfs (US)', 'IBM Corporation (US)', 'SAP SE (Germany)', 'Zoho Corporation Pvt Ltd. (India)', 'Oracle Corporation (US)', 'Capgemini SE (France)', 'SkyPrep Inc. (Canada)', 'Lucidea (US)', 'Egain Corporation (US)', 'Upland Software Inc. (US)', 'Zendesk Inc. (US)'.

What is the key driver of Global Knowledge Management Software Market?

Increasing need for customer satisfaction and retention: One of the most effective competences in businesses that help them shift their settings to customer-centric environments is the use of customer-oriented business practices. Through knowledge management, businesses can improve their relationships with their key clients, resulting in devoted clients and a competitive advantage. To come up with fresh ideas and provide improved and new services, organizations can employ knowledge management and expertise gained from customer relationship management (CRM). Customer knowledge, which is a crucial element of the connection among knowledge management practices and customer relationship management (CRM), could help businesses tailor their goods and services as well as their entire relationship with customers to increase customer satisfaction and, ultimately, financial profitability. A comprehensive knowledge management system can also greatly assist a business.

What is the key market trend for Global Knowledge Management Software Market?

Increase in technological development: Knowledge management procedures have a potential to be gradually integrated thanks to the development and eventual growth of information systems. Data mining, analytics, data visualization, and storage are all made possible by digital technologies. Through interconnected digital technologies, the value created by such technology is enhanced and distributed to businesses and customers. In addition, digital technology advances in knowledge management investigate how emerging and novel digital technologies might support knowledge management operations inside and outside of enterprises.

Which region accounted for the largest share in Global Knowledge Management Software Market?

Based on the region, the North American region currently dominates the global knowledge management software market. In terms of value, North America dominated the knowledge management software market in 2021. Due to its strong infrastructure and rapid adoption of new technology, North America is projected to hold a substantial market share. Because of the expanding demand across numerous industries and the widespread acceptance of different management software, North America leads the knowledge management software market. A strong infrastructure that supports new technology adoption and a high propensity to learn new technologies are driving growth in the regional market.

Knowledge Management Software Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to knowledge management software market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Knowledge Management Software Market News

In November 2024, Microsoft has come up with some innovative features using artificial intelligence in its SharePoint to empower knowledge sharing and collaboration. The update features smarter document management and has been automated in content tagging and more advanced search capabilities. This allows quick access and sharing of relevant information and thereby streamlining workflows across teams and departments in an organization.
In October 2024, IBM launched a new version of its Watson Knowledge Studio, integrating more advanced machine learning models to improve knowledge extraction from unstructured data. The developments which make the company improve its ability to provide knowledge management solutions now include automated tagging of content, automated classification of documents, and various insights from multiple data sources for businesses.
In September 2024, SAP unveiled its next-generation Knowledge Management Cloud, focusing on improving enterprise knowledge sharing through enhanced collaboration tools and AI-driven content recommendations. It is being invented to secure organizations with effective management about the large volumes of data that an effective organization will allow employees to search, discover and use knowledge across the enterprise without difficulty.

Knowledge Management Software Market Report Snapshots

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Knowledge Management Software Market size was valued at USD 31.41 Billion in 2023 and is poised to grow from USD 34.99 Billion in 2024 to USD 83 Billion by 2032, growing at a CAGR of 11.40% during the forecast period (2025-2032).

The global knowledge management software market has become increasingly competitive with numerous competitors bringing their innovative collaborative, document management, and knowledge-sharing software. Among the chief players in this market are Microsoft, IBM, SAP, Oracle, and Google. All these companies have improved and combined their solutions through the AI adaptation, cloud integration, and data analytics. Their domination is through strategic acquisitions, partnerships, or product improvements towards the ever-increasing demand for effective knowledge management software across industries worldwide. 'IBM (US) ', 'SAP (Germany) ', 'Freshworks Inc. (US) ', 'ProProfs (US) ', 'Lucidea (Canada) ', 'EduBrite (US) ', 'Atlassian (Australia) ', 'MangoApps Inc. (US) ', 'Yonyx (US) ', 'eXo Platform (France) ', 'Bitrix24 (US) ', 'Bloomfire (US) ', 'Chadha Software Technologies (India) ', 'Microsoft Corporation (US) ', 'Zendesk, Inc. (US) ', 'ServiceNow, Inc. (US) ', 'Moodle Pty Ltd. (Australia) ', 'Confluence (Atlassian) (Australia) ', 'SharePoint (Microsoft) (US) ', 'Zoho Corporation (India) ', 'Helpjuice (US) ', 'Document360 (US)'

Integration of Artificial Intelligence and Machine Learning: AI and machine learning are revolutionizing the global knowledge management software market by enhancing content management, automating knowledge categorization, and improving search functionality. These technologies make possible the creation of intelligent content recommendation, faster retrieval of information and more customized experiences for users, thereby propelling an upsurge in spin across all industries.

North America is dominating the global knowledge management software market due to its advanced technological infrastructure, high adoption of digital transformation, and strong presence of key market players. The businesses in the region have become well-rooted, especially in finance, healthcare, and technology. They are now implementing knowledge management software to improve and collaborate. The strong presence of IT in North America, an able manpower pool, and a welcoming climate for investments further foster development in innovative software solutions. The rising demand for security of data, compliance, and knowledgeable sharing accelerates the development trend toward advanced knowledge management software, thereby fortifying the position of North America.

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Knowledge Management Software Market

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Knowledge Management Software Market Updates

Knowledge Management Software Market News

Knowledge Management Software Market Report Snapshots

FAQs

What is the global market size of Knowledge Management Software Market?

Who are the key vendors in the Knowledge Management Software Market?

What is the key driver of Knowledge Management Software Market?

What is the key market trend for Knowledge Management Software Market?

Which region accounted for the largest share in Knowledge Management Software Market?

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