Strategic Planning Software Market – Introduction
- Strategic planning software is used for developing business strategies and to evaluate the outcome of the business strategies. The software includes investigation, static arrangement, controlling and monitoring, and evaluation of all parameters that are required to achieve organizational objectives.
- Strategic planning software helps organizations in achieving their objectives, mission, vision, and goals. Strategy management software identifies the competitive atmosphere, finalizes future goals, and investigates external factors that impacts the business success. The growth of strategic planning software among enterprises is rapid owing to concern of organizations to improve business productivity and to be able to achieve multiple short term goals. Previously, traditional methods were used for setting objectives and goals in an organization.
Key Drivers of the Strategic Planning Software Market
- The growing focus of organizations to improve efficiency and maintain transparency is expected to drive the demand for strategic planning software in the near future. The major benefits of business transparency includes improving employee engagement, enhancing decision-making skills, increasing customer loyalty and brand loyalty, and building trust among employees and customers.
- Growing adoption of laptops, smartphones, and smart devices in various verticals such as government, healthcare, banking, finance and insurance, manufacturing, and many others is another factor that is likely to fuel the demand for strategic planning software during the forecast period. For instance, in April 2020, AlertEnterprise, known for offering software solutions to the healthcare sector, introduced Intelligence software for the healthcare workforce during COVID-19. This new software allows hospitals to design strategies on how to provide treatment to COVID-19 patients in this pandemic situation.
- However, lack of awareness and lack of technical experts in developing economies is expected to hamper the growth of the strategic planning software market.
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Impact of COVID-19 on the Global Strategic Planning Software Market
Most businesses have moved to the work from home model due to the increasing incidence of COVID-19 cases across the globe. It has been observed that almost all businesses have faced significant decline in production. Companies adopt strategic planning software to minimize the impact of Covid-19 and remain competitive in the market.
North America Accounts for Dominant Share in the Strategic Planning Software Market
- North America holds the largest share in the strategic planning software market. Majority of the large number of companies in the U.S. such as Datadog, Perforce Software, Inc., SmartBear Software, Planview, and many others strengthen demand of strategic planning software in the U.S. In addition, rapid adoption of strategic planning software to improve operational efficiency and the growing concern of organizations to improve decision-making skills in turn increase demand for strategic planning software.
- The Asia Pacific strategic planning software market is expected to expand at the highest CAGR during the forecast period. Furthermore, rapid technical innovations, digitalization, and growing adoption of BYOD are some of the factors that drives the demand for strategic planning software in developed economies. Increasing numbers of SMEs in developing economies is further expected to drive demand for strategic planning software in the coming years.
Key Players Operating in the Global Strategic Planning Software Market
Companies active in providing strategic planning software are increasingly spending on research and development, which in turn is expected to increase the demand for strategic planning software in the coming years. The market is diversified with the presence of numerous manufacturers across the globe. Key players operating in the global strategic planning software market include:
- Sheetless Ltd
- Perforce Software, Inc.
- SmartBear Software
- Planview, Inc.
- MPOWR (SupplyCore Inc.)
- StrategyBlocks Limited
- Riverbed Technology
Global Strategic Planning Software Market: Research Scope
Global Strategic Planning Software Market, by Component
- Managed Services
- Consulting Services
- Implementation Services
Global Strategic Planning Software Market, by Deployment
Global Strategic Planning Software Market, by Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
Global Strategic Planning Software Market, by End-user
- Logistics and Transportation
- Media and Entertainment
- IT & Telecom
Global Strategic Planning Software Market, by Business Function
- Human Resources
Global Strategic Planning Software Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Planning Software Management
- Software Management
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.