Technology

Online Project Management Software Market size is set to grow by USD 4.44 billion from 2024-2028, Increasing requirements for large-scale project management boost the market, Technavio

Published

2 months ago

August 6, 2024

NEW YORK, Aug. 6, 2024 /PRNewswire/ — The global online project management software market size is estimated to grow by USD 4.44 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 11.53% during the forecast period. Increasing requirements for large-scale project management is driving market growth, with a trend towards rise in remote working. However, data security and privacy poses a challenge. Key market players include ActiveCollab LLC, Apptio Inc, Atlassian Corp. Plc, Basecamp LLC, Citrix Systems Inc., Clarizen Inc., LiquidPlanner Inc., Mavenlink Inc., Microsoft Corp., monday.com Ltd., Planbox Inc., Premiere Global Services Inc., ProjectManager.com Inc., Redbooth, Scoro Software, TeamGantt, Teamwork Crew Ltd., Workfront Inc., Wrike Inc., and Zoho Corp. Pvt. Ltd..

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Online Project Management Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 11.53%

Market growth 2024-2028

USD 4449.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.45

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 38%

Key countries

US, UK, China, Germany, and Japan

Key companies profiled

ActiveCollab LLC, Apptio Inc, Atlassian Corp. Plc, Basecamp LLC, Citrix Systems Inc., Clarizen Inc., LiquidPlanner Inc., Mavenlink Inc., Microsoft Corp., monday.com Ltd., Planbox Inc., Premiere Global Services Inc., ProjectManager.com Inc., Redbooth, Scoro Software, TeamGantt, Teamwork Crew Ltd., Workfront Inc., Wrike Inc., and Zoho Corp. Pvt. Ltd.

Market Driver

In light of the pandemic, remote work has become a necessity for many organizations. According to a Gartner survey, 74% of companies plan to continue with remote work post-COVID-19. Managing projects in a remote environment poses unique challenges for project managers. Online project management software offers a solution by enabling seamless deployment for hybrid or remote workforces. This software allows project managers to track and manage tasks and projects in real-time, regardless of location or shift timings. It also centralizes relevant data for informed decision-making. The demand for online project management software is expected to increase as remote work becomes the new norm.

The Online Project Management Software market is thriving with trends like file sharing, conversions, and digital transformation. Major applications such as Asana and Trello offer alternatives to traditional Project Management Systems (PMS). Businesses are implementing these technologies to streamline processes and improve project planning, monitoring, and risk management. Deployment and integration concerns are common challenges, with potential issues including data silos, compatibility difficulties, and resistance to change. Clear communication and adoption culture are essential for successful implementation. Functionalities like document management, issue tracking, and resource allocation are key features. Learning curve and interface complexity can hinder adoption, so choosing user-friendly solutions is crucial. Change management tactics are necessary to mitigate resistance and ensure teams adapt effectively. Ultimately, these virtual platforms enhance project performance, operations, and resource management, enabling more efficient and effective team collaboration.

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Market Challenges

Online project management software has gained popularity among businesses due to its cost-effectiveness and accessibility. However, security concerns remain a significant barrier to adoption. The risk of data leakage and misuse due to unsecured SSL connections and lack of transparency in data centers can lead to legal and security issues. Cloud-based storage solutions, while convenient, are vulnerable to hacking, malware, DDoS attacks, data breaches, and unsecured APIs. In a multi-tenant model, the risk of information leakage is heightened. End-users prioritize the security of their information, and the potential for data loss or misuse by IT professionals installing the software further hinders market growth. Businesses must carefully evaluate the security measures of online project management software before implementation to mitigate these risks.In today’s business world, corporations face numerous challenges in managing their organization’s portfolio of projects. Task management, setting priorities, internal communication, processes, resource utilization, and accurate forecasts are key areas of concern. Project management software has become a strategic function to address these challenges. Real-time dashboards, due dates, and progress tracking enable efficient work environments. Cloud-based solutions offer flexibility and unified platforms for workflows, budgeting, and communication. Enterprise product creation requires resource details and datasets for effective planning and delivery success. New product development, market penetration, and Internet of Things projects demand accurate forecasts and progress reports. Effective project management software should provide communication tools, flexibility, and real-time collaboration. GenSight and Decision Lens are popular options, offering features like Gantt charts, Kanban boards, and cloud-based solutions. Spreadsheets and traditional methods like email and face-to-face communication are insufficient for managing complex projects and workloads. By implementing a project management software, businesses can streamline their operations and ensure successful project delivery.

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Segment Overview

This online project management software market report extensively covers market segmentation by

End-user 1.1 Enterprises1.2 GovernmentDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Enterprises- The Online Project Management Software market is thriving as businesses increasingly adopt digital solutions for managing projects. These tools offer numerous benefits, including real-time collaboration, improved communication, and enhanced project visibility. They enable teams to work remotely and streamline workflows, leading to increased efficiency and productivity. Key features include task assignment, Gantt charts, time tracking, and reporting capabilities. Companies of all sizes can leverage these solutions to better manage their projects and deliver results on time.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global academic e-learning market is experiencing robust growth, driven by increasing digitalization and demand for flexible learning solutions. Key segments include K-12 and higher education, with notable growth in Asia-Pacific and North America.

Similarly, the global project portfolio management (PPM) software market is expanding rapidly, fueled by the need for efficient project execution and resource management. Major players like Microsoft and Oracle are innovating with cloud-based solutions. The market’s growth is prominent in sectors such as IT and construction, with significant adoption across Europe and North America.

Research Analysis

Online Project Management Software (PMS) is a digital solution that helps corporations manage and streamline their projects, operations, and resources more efficiently. This unified platform enables teams to collaborate virtually, track project updates and follow-ups in real-time, and adhere to deadlines. PMS offers features like progress tracking, budgeting, and workload management to ensure project plans are executed effectively and efficiently. Virtual project management platforms provide corporations with a centralized system to manage their organization’s portfolio, allowing for seamless communication between team members and stakeholders. PMS enhances performance by automating workflows, facilitating efficient collaboration, and enabling real-time access to project information. Ultimately, PMS contributes to delivery success by improving project management, enhancing team productivity, and optimizing budgets.

Market Research Overview

Online Project Management Software (PMS) is a digital solution that streamlines projects, operations, and performance by providing virtual platforms for managing resources, teams, and workflows. It enables real-time project updates, follow-ups, and deadline tracking, making it an essential strategic function for businesses and corporations in managing their organization’s portfolio. Major applications include planning, scheduling, resource allocation, document management, issue tracking, and task management. PMS offers prioritization tools, internal communication channels, and processes to optimize resource utilization and deliver projects on time and within budget. Cloud-based solutions provide flexibility, real-time collaboration, and access to datasets from anywhere. PMS caters to enterprises, offering features like budgeting, progress tracking, and communication tools to enhance business operations and efficiency. However, the market faces challenges such as feature overload, complexity, and a learning curve. Alternatives like Asana, Trello, and Spreadsheets are available, but PMS offers unified platforms with functionalities like Gantt charts, Kanban boards, and real-time collaboration that make it an indispensable tool for digital transformation in businesses.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userEnterprisesGovernmentDeploymentOn-premisesCloudGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

Published

38 mins ago

September 21, 2024

24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

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SOURCE Pause for Peace

Technology

Global Times: China opens 12 nuclear research facilities to global scientists

Published

2 hours ago

September 21, 2024

The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

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SOURCE Global Times

Technology

The Ar-King of Spirits: Ed Arking’s Impact on the Liquor Industry

Published

3 hours ago

September 21, 2024

In the interest of providing luxury liquors in a convenient and stress-free format, Served Neat was born. When asked about his intentions for the company, Ed states, “My goal with Served Neat is to create a one-stop shop where customers can easily discover these rare gems.”

MOORESTOWN, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — Served Neat is an emerging online platform with a curated selection of some of the world’s most popular luxury spirits. The website offers daily flash deals that highlight a variety of high-end international brands including Pappy Van Winkle, Buffalo Trace, Clase Azul, and more.

“While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Ed and Joe Arking, the father-son team behind the concept of Served Neat, have decades of experience hand-selecting and supplying sought-after liquors. Ed Arking, CEO of New Jersey’s Roger Wilco, grew up in the world of wine and spirits and formed his own business aspirations.

“Growing up, I watched my father navigate and succeed in the ever-evolving wine and spirits industry,” Ed explains. “While I always aspired to create something similar, I knew I needed to wait for the right moment.” Ed has gone on to manage his own liquor store and lead projects for up-and-coming brands, such as the vodka-infused and non-carbonated Smooth Water.

As he evolved in his career, Ed discovered the perfect time to make his lifelong vision a reality. He recalls, “I noticed a gap in the market—especially for whiskey and tequila. These categories have surged in popularity, making it difficult for the everyday consumer to find those elusive sought-after allocated bottles.”

When it comes to Served Neat, quality and knowledge is key. Ed adds, “While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Served Neat is the sister company to WTSO and The Wine Market, two online platforms dedicated to sourcing and distributing top-notch wines from every corner of the globe.

At The Wine Market, an online marketplace for the world’s most popular wine brands, convenience and quality are key. Each bottle in their curated collection is a testament to exceptional flavor and craftsmanship.

Since 2006, WTSO has enjoyed creating a unique wine experience and sharing it with new beginners and seasoned connoisseurs alike. Using an extensive network of wineries and wine makers, WTSO connects customers to thousands of brands from top wine appellations around the globe. The strong relationships they’ve formed within the wine world allow the business to deliver authentic and high-quality bottles to homes across the United States.

Wine and spirits lovers alike are invited to explore Served Neat, WTSO, and The Wine Market to find their next favorite bottle. Visit their websites to learn more about these one-of-a-kind online marketplaces!

Media Contact

Julie Blount, WTSO, 1 8669572795, marketing@wtso.com

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SOURCE WTSO