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).

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.

Global Knowledge Management Software Companies

Q: 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.

Global Knowledge Management Software Market Competitive Landscape

Knowledge Management Software Market Top Players Company Profiles

Freshworks Inc.
Atlassian Corporation Plc
Bloomfire
ComAround
Guru Technologies
HCL Technologies
Igloo Software
KMS Lighthouse
KnowledgeOwl
Lucidea
MangoApps
Microsoft
M-Files
ProProfs
RightAnswers
Salesforce
SAP
SAS Institute
ServiceNow
Spoke

Knowledge Management Software Market

FAQs

Knowledge Management Software Market size was valued at USD 24.4 billion in 2019 and is poised to grow from USD 27.45 billion in 2023 to USD 62.61 billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

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.', 'Atlassian Corporation Plc', 'Bloomfire', 'ComAround', 'Guru Technologies', 'HCL Technologies', 'Igloo Software', 'KMS Lighthouse', 'KnowledgeOwl', 'Lucidea', 'MangoApps', 'Microsoft', 'M-Files', 'ProProfs', 'RightAnswers', 'Salesforce', 'SAP', 'SAS Institute', 'ServiceNow', 'Spoke'

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.

Increase in technological development: Knowledge management procedures have a potential to be gradually integrated thanks to the development and eventual growth of information systems.

Based on the region, North America currently dominates the global knowledge management software market. In terms of value, North America dominated the knowledge management software market in 2022. 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. On the other hand, because of the region's tremendous economic growth, Asia-Pacific is predicted to have the highest growth from 2023 to 2030.

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Global Knowledge Management Software Market Competitive Landscape

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Global Knowledge Management Software Market Competitive Landscape

Global Knowledge Management Software Market Report Snapshots

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FAQs

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

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

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

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

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

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