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Business Productivity Software Market to Grow by USD 119.4 Billion from 2025-2029, Driven by Large-Scale Business Portfolio Needs and AI-Redefined Landscape – Technavio

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NEW YORK, Jan. 13, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global business productivity software market size is estimated to grow by USD 119.4 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 17.6% during the forecast period. Increasing requirements for large-scale business portfolio management is driving market growth, with a trend towards automatic updating and enhancing coherency in business operations. However, cybersecurity-related threats risk associated with business productivity software solutions poses a challenge. Key market players include Adobe Inc., Alphabet Inc., Amazon.com Inc., Asana Inc., Atlassian Corp Plc, Bending Spoons S.p.A., Broadcom Inc., Cisco Systems Inc., Dropbox Inc., Expensify Inc, International Business Machines Corp., Microsoft Corp, monday.com Ltd., Oracle Corp, Salesforce Inc., SAP SE, Smartsheet Inc., TIBCO Software Inc., Toggl, and Zoho Corp. Pvt. Ltd..

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Business Productivity Software Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 17.6%

Market growth 2025-2029

USD 119.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

15.2

Regional analysis

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

Performing market contribution

North America at 37%

Key countries

US, UK, China, Canada, Germany, France, Japan, Brazil, India, and Saudi Arabia

Key companies profiled

Adobe Inc., Alphabet Inc., Amazon.com Inc., Asana Inc., Atlassian Corp Plc, Bending Spoons S.p.A., Broadcom Inc., Cisco Systems Inc., Dropbox Inc., Expensify Inc, International Business Machines Corp., Microsoft Corp, monday.com Ltd., Oracle Corp, Salesforce Inc., SAP SE, Smartsheet Inc., TIBCO Software Inc., Toggl, and Zoho Corp. Pvt. Ltd.

Market Driver

Business productivity software is a vital toolset for organizations seeking to streamline operations, optimize resource utilization, and enhance employee performance. Trends in this market include completion times and productivity management, integration capabilities with communication platforms, workflow automation, and knowledge sharing. Cloud-based solutions offer flexibility and scalability, enabling access from laptops, tablets, and smartphones. AI and machine learning are integral, providing automation, decision-making support, and project updates. Key features include task tracking, communication channels, document collaboration tools, and data analytics. Data security is paramount, with encryption, access control, and intrusion detection software essential. Integration with ERP, CRM, and other business functions is crucial for operational efficiency and customer satisfaction. Cost-effective deployment models, such as subscription-based services, are popular. Hybrid work environments demand mobile capability and cybersecurity. Overall, business productivity software empowers organizations to turnaround projects faster, improve employee productivity, and make informed decisions based on real-time data. 

Business productivity management involves creating and updating project schedules, a time-consuming and frustrating task for project managers, engineers, and analysts. Intelligent project portfolio management scheduling tools integrated into business operating systems streamline this process. These tools prompt users to perform essential tasks and refer to a predefined process library for optimal output. If a process output is missing, the tool prompts a message to create it. Additionally, the tool checks for necessary skills and resources required to complete tasks, ensuring productivity and efficiency. 

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Market Challenges

Business productivity software is essential for managing completion times, optimizing employee productivity, and streamlining operations in today’s fast-paced business environment. However, selecting the right software comes with challenges such as integration capabilities with communication platforms, workflow tools, and document collaboration systems. Additionally, data silos can hinder business efficiency, making it crucial to choose cloud-based solutions with data analytics capabilities. Employees working remotely require mobile access to productivity software, making cloud-based services a popular choice. However, data security is paramount, so encryption, access control, and intrusion detection software are necessary. Communication channels, task tracking, and project planning are also essential features for business productivity. AI and automation can help optimize resource utilization, reduce turnaround times, and improve decision-making. ERP systems and business intelligence tools can provide valuable insights into project progress and employee performance. Subscription-based models offer cost-effectiveness, while on-premises solutions offer data security and control. Hybrid work environments require mobile capability, with laptops, tablets, and smartphones supporting productivity software. Collaboration tools and document management systems enable knowledge sharing and error reduction. Cloud technology and cyber threats require security measures, while scheduling software and telecommunications tools ensure effective project planning and customer satisfaction.Businesses prioritize data security in their use of productivity software, particularly in the context of cloud models like OpenStack. Man-in-the-middle (MiTM) attacks pose a threat to the object storage component of these applications. To mitigate risks, enterprises require advanced security features. A major concern is the lack of verification of certification authority (CA) credentials during SSL connections. With increasing data storage on cloud platforms, security becomes even more critical to prevent hacking and malware infections. Organizations demand security solutions to safeguard their productivity software investments.

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Segment Overview

This business productivity software market report extensively covers market segmentation by

Deployment 1.1 Cloud1.2 On-premisesEnd-user 2.1 Large enterprise2.2 SMEsGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Cloud- The business productivity software market has experienced a strong demand for cloud-based solutions due to their cost-efficiency and scalability. Cloud-based software eliminates the need for businesses to invest in costly hardware, infrastructure, and maintenance. This model is accessible to businesses of all sizes, including startups and small businesses. Cloud-based solutions offer easy scalability, allowing businesses to adjust their software usage as their needs change without significant upfront investments. Providers of cloud-based business management software, such as Microsoft and Google, frequently roll out updates and security patches, ensuring businesses have access to the latest features and security enhancements without the hassle of manual upgrades. Microsoft 365, a leading example of cloud-based productivity software, offers real-time collaboration, access to files from multiple devices, and automatic updates. Google Workspace, another prominent player, is popular for its collaborative features and cloud-based storage. The demand for cloud-based business productivity software is expected to continue growing as businesses increasingly rely on technology to streamline operations and remain competitive. This trend will positively impact the growth of the cloud segment of the business productivity software market during the forecast period.

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Research Analysis

The Business Productivity Software market is experiencing significant growth due to the increasing need for digital transformation, agile methodology, and change management in businesses of all sizes. Cloud computing plays a crucial role in enabling remote work solutions, HR technology, and enterprise resource planning. Lean management and business process automation help improve work-life balance and performance management. Digital transformation brings about the need for data-driven decision making, business intelligence, and data analytics tools. Industry-specific Business Process Services (BPS) cater to unique business functions, while data governance ensures data security and compliance with regulations. Disaster recovery, risk management, and cybersecurity solutions protect against potential threats. Hybrid cloud and IT infrastructure management provide flexibility and scalability. Data storage and data visualization tools help make sense of large data sets. Cloud migration and enterprise mobility enable a mobile workforce. Business continuity planning and project management tools keep operations running smoothly. Time tracking software and performance management solutions help optimize productivity. Employee engagement and experience are essential for talent acquisition and retention. Compliance and regulations, process improvement, and digital transformation continue to shape the future of the Business Productivity Software market.

Market Research Overview

Business productivity software refers to applications designed to help organizations streamline operations, optimize resource utilization, and enhance employee productivity. These solutions offer various features such as task management, communication channels, workflow automation, knowledge sharing, and reporting. Integration capabilities with other business functions like customer relationship management (CRM), enterprise resource planning (ERP), and project planning are essential. Cloud-based productivity software enables hybrid work and remote access, making it flexible for employees working from home or on-the-go. Accessibility on laptops, tablets, and smartphones enhances mobility and productivity. Productivity management software facilitates data analytics, allowing businesses to make informed decisions based on key performance indicators (KPIs) like completion times, turnaround times, and project progress. AI and machine learning capabilities help automate repetitive tasks, reducing errors and improving operational efficiency. Cloud technology ensures scalability and cost-effectiveness, while data security features like encryption, access control, and intrusion detection protect sensitive information. Collaboration tools enable real-time document editing and sharing, fostering effective communication and knowledge transfer among teams. Subscription-based models offer affordability and ease of use, making productivity software accessible to businesses of all sizes. However, businesses must consider the deployment model, data collection, and data silos when choosing a productivity solution to ensure seamless integration and efficient workflows.

Table of Contents:

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

DeploymentCloudOn-premisesEnd-userLarge EnterpriseSMEsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

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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New Year, New Health Insurance Changes: BuzzRx® Can Help Fill the Gap in Prescription Coverage

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Save Smart and Bee Healthy

FORT LAUDERDALE, Fla., Jan. 14, 2025 /PRNewswire/ — As we enter a new year, many Americans may be facing unwelcome changes to their health insurance plans, including the removal or reduction of prescription medications from their coverage. With health insurance policies adjusting annually, BuzzRx, a free prescription savings service that allows users to instantly find the lowest price on their medication at pharmacies nationwide, is stepping up to help fill the gap by providing access to affordable prescription medications through exclusive discounts at over 60,000 participating pharmacies nationwide.

The Start of the Year Brings Health Insurance Changes—and Increased Costs

Each year, millions of Americans experience shifts in their health insurance coverage. One of the most common changes is that their prescription medications may no longer be covered. According to the latest data from the Kaiser Family Foundation, nearly 1 in 5 (approximately 23%) individuals with private health insurance face interruptions in their prescription drug coverage once their new policy takes effect. These changes can result in out-of-pocket expenses that are financially burdensome and potentially harmful to individuals’ health.

“Health insurance companies often update their formularies, dropping certain medications or shifting drugs to higher tiers that are not covered as fully,” states Matthew Herfield, Co-Founder and CEO of BuzzRx. “For those who depend on regular medications, these changes can pose a significant financial hardship. BuzzRx is here to help ease that burden by offering discounted prices on prescriptions, regardless of whether your medication is covered by insurance.”

How BuzzRx Can Help You Save on Prescription Medications

BuzzRx offers an affordable and easy way to get the medications you need, even if your insurance no longer covers them. With BuzzRx, users can access exclusive discounts at over 60,000 pharmacies nationwide, including major chains and independent pharmacies.

No insurance? No problem: BuzzRx provides savings on medications for those without insurance or those whose insurance doesn’t cover certain medications.Instant Savings: BuzzRx can save you up to 80% off on prescriptions immediately. Simply show your BuzzRx coupon for your medication at the pharmacy to receive your discount.Broad Coverage: BuzzRx offers discounts on a wide range of medications, including generic and brand-name drugs.Simple & Free: Signing up for BuzzRx is quick and free—no hidden fees, no complicated paperwork, and no waiting periods.

In addition, BuzzRx’s BeeKind program gives back to four nonprofit partners every time someone saves, ensuring that every discount used can help others in need.

The Impact of Losing Prescription Coverage

Losing coverage for critical medications can have far-reaching consequences. According to a study by the National Public Radio (NPR), as many as 33% of Americans report not filling prescriptions due to high out-of-pocket costs. When health insurance no longer covers necessary medications, many are forced to make difficult choices between buying medications or paying for other essential needs.

It’s easy to start saving with BuzzRx. Simply visit buzzrx.com or download the BuzzRx app to sign up for a free BuzzRx account and begin accessing prescription discounts immediately.

About BuzzRx
BuzzRx is a free prescription discount service that allows users to find the lowest price on their medication instantly at over 60,000 pharmacies nationwide. The website and free mobile app promote drug transparency by allowing users to compare discounted prices across pharmacy chains, helping reduce out-of-pocket costs and sticker shock at the counter. Since 2021, BuzzRx has helped over 10 million people in the U.S. save up to 80% on their medications, resulting in over $2 billion saved. BuzzRx also supports its nonprofit partners year-round, donating over 10 million. For more information, visit BuzzRx.com or download the free mobile app on iOS and Android.

Press Contact
Press@BuzzRx.com

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USTA President Brian Hainline, MD Joins Tennis Social AI as Chief Innovation & Health Officer

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NEW YORK, Jan. 14, 2025 /PRNewswire/ — Tennis Social AI proudly announces Brian Hainline, MD as its Chief Innovation and Health Officer, marking a transformative step in its mission to redefine tennis and racquet sports.

“Tennis Social AI addresses a critical gap in bringing tennis to the people.” – Brian Hainline, MD

Brian, former President of the USTA and the first Chief Medical Officer of the NCAA, brings decades of leadership and expertise at the intersection of health, sports, and innovation. A Clinical Professor of Neurology at NYU Grossman School of Medicine, Brian has been a vocal advocate for tennis as the healthiest sport in the world. His role at Tennis Social AI will focus on driving cutting-edge initiatives to broaden the sport’s accessibility, unlock its health benefits, and integrate technology to elevate the player experience.

“Tennis is the healthiest sport on the planet – but that only matters if tennis is accessible to individuals and communities from all cultures, all ages, and all abilities,” Brian shared. “Tennis Social AI addresses a critical gap in bringing tennis to the people – tennis that is fun, engaging, and a platform for developmental success. I feel privileged to be part of this journey.”

At Tennis Social AI, the mission is to make tennis more social, fun, and accessible to everyone, regardless of age, ability, or skill level. Brian’s addition to the team comes as the company prepares for its first installations and public launch in early 2025.

Rooted in tennis, Tennis Social AI’s proprietary technology also holds the potential to revolutionize other racquet sports, including pickleball and padel. This versatility positions the company as a leader in racquet sports simulation.

2025 promises to redefine racquet sports innovation. Tennis Social AI will blend entertainment, fitness, and training, paving the way for a future where the sport inspires and stays accessible to all.

For more information on brand opportunities and pre-sales, contact: Steven McClendon at steven@tennissocial.ai / Tyler Kelly at Tyler@tennissocial.ai or visit https://tennissocial.ai/

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Tyber Medical, Intech and Resolve Surgical Technologies combine to form a next-generation solutions provider to the Medical Device industry

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LONDON, Jan. 14, 2025 /PRNewswire/ — Montagu announced today its intention to create a world-leading medical devices supplier by supporting the merger of Tyber Medical, Intech and Resolve Surgical Technologies (“Resolve”).

As part of the transaction, Montagu entered into a definitive agreement to acquire Tyber Medical, an innovative medical device company providing private label development and manufacturing services to med-tech Original Equipment Manufacturers (OEMs). Subject to customary regulatory approvals and closing conditions, Tyber Medical will be combined with Montagu’s existing investments in Resolve, a leading provider of contract device design, manufacturing, and lifecycle management services, as well as in Intech, a leader in the co-development and manufacturing of complex orthopaedic surgical devices.

The combined entity will offer a unique mix of proprietary market-cleared technologies, and development and manufacturing scale, that will enable its OEM customers to achieve unmatched speed to market and improve the resiliency and effectiveness of their supply chain. At the time of the merger, the platform will be a leading contract supplier of systems for Spine, Trauma, Extremities, Sports Medicine and Enabling Technologies, with plans to expand its pioneering innovation-led model into additional markets. The planned merger will support accelerated innovation and help improve standards of care for patients globally.

Jeff Tyber, Founder and CEO at Tyber Medical said: “Tyber Medical’s proven track record of successful global launches, averaging 12 months from signing to launch, has revolutionized how our partners expand their portfolios and adapt to the evolving market dynamics. This strategic combination brings together the size, scale, and expertise of Intech, along with Resolve’s deep knowledge in the Spine and Cardiothoracic fields. We are delighted to be partnering with Montagu, a leading investment firm in the private label OEM sector, and we share their vision of creating an industry champion.”

“This unique combination represents a significant milestone, enhancing our ability to serve medical technology companies worldwide,” said Laurent Pruvost, President and CEO of Intech. “By combining Intech’s global manufacturing footprint and know-how with Resolve and Tyber’s tailored solutions, we will establish ourselves as the undisputed partner of choice in the industry.”

Megan Osorio, President and CEO of Resolve said: “Bringing innovation to market with speed and quality is of the utmost importance to our OEM customers. Joining forces will increase our ability to support their growth across the full range of orthopaedic implants & instruments by bringing the deep experience of our respective teams and scale of our manufacturing footprint together.”

Adrien Sassi, Partner at Montagu said: “Montagu is proud to support the creation of this world-class medical device platform. The three organisations share similar passion and focus on delivering innovative, high-quality, reliable solutions to OEM customers, surgeons, and patients. We look forward to partnering with Jeff Tyber and his talented team, as well as extending our successful collaboration with Intech and Resolve.”

Houlihan Lokey and Dechert LLP, respectively, acted as exclusive financial advisor and legal advisor to Tyber Medical. Weil Gotshal & Manges acted as legal advisor to Montagu, Intech and Resolve.

Media enquiries

Greenbrook: James Madsen and Cecilie Oerting
+44 20 7952 2000 | montagu@greenbrookadvisory.com

About Intech

Intech is a global leader in the manufacturing of orthopaedic devices and mission-critical components. With facilities in the USA, Europe, and Asia-Pacific, the group excels in producing surgical implants, instruments, cutting tools, handles, and sterilization containers. With innovation at heart, Intech is at the forefront of contract-design and contract-manufacturing in the field of Orthopaedics and Healthcare. Intech is also home to SMADE, its IoMT division that offers smart tracking of geolocation, sterilisation cycles, and usage of surgical containers on the field. For more information, visit https://intech-medical.com/.

About Resolve Surgical Technologies

Resolve Surgical Technologies is an industry-leading private label OEM that designs, develops and manufactures metal and polymer implants and instruments serving the orthopaedics, spine and cardiothoracic markets. Originally founded in 1992 as Pioneer Surgical Technology, Inc. and later known as the Metals division of RTI Surgical, Resolve became known for their innovative designs and engineering expertise. Today, Resolve Surgical focuses on creating value as an extension of our OEM partners’ teams to deliver innovation, accelerate speed to revenue and drive lifecycle management with robust quality and regulatory support. For more information, visit www.resolvesurg.com.

About Tyber Medical LLC

Tyber Medical LLC is a leading orthopaedic device manufacturer providing rapid access to FDA-cleared and CE-marked, private label, portfolio-enhancing regulatory-approved orthopaedic implants for the spinal, extremity, and trauma markets. Since its founding in 2012, the company has released more than 50 spine, extremity, and trauma systems. Tyber Medical aims to develop and utilize differentiated bioengineered technologies, including surface treatments and coatings, to advance orthopaedic science. For more information, visit https://tybermedical.com/.

About Montagu

Montagu is a leading mid-market private equity firm, committed to finding and growing businesses that make the world work. Focussing on businesses with a must-have product or service in a structurally growing marketplace, Montagu brings proven growth capabilities to help companies achieve their ambitions and unlock their full potential. Montagu specialises in carve-out and other first time buyout investments and has deep expertise in five priority sectors: Healthcare, Financial Sector Services, Critical Data, Digital Infrastructure and Education. ESG forms an integral part of its strategy, and its commitment to responsible investment is fully integrated into its investment and value-creation process. Montagu partners with companies with enterprise values between €200 million and €1 billion and has €12bn assets under management. For additional information on Montagu, visit www.montagu.com

 

 

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