Between 2023 and 2033, the market for change management software is projected to grow at a healthy CAGR of 8.9%. By 2033, the market is anticipated to hold a market share of US$ 4.8 billion, while its estimated value in 2023 is US$ 2.06 billion.
The market for software solutions that assist organisations in managing and navigating changes to their operations, procedures, and systems is referred to as the “change management software market.” In order to ensure seamless transitions, reduce disruptions, and maximise the success of organisational changes, these software tools are used to streamline and automate the procedures involved in change management.
The reduced downtime, enhanced time-to-value graph, and smooth deployment of any new change make it the perfect platform for a structure-based corporation. Additionally, additional tools like visual analytics and reporting, on-demand and controlled access, and personalized content and document sharing make it a desirable tool.
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Automation in corporate structures with the adoption of advanced problem-solving software empowered by artificial intelligence, machine learning, and big data is highly adaptive. Monitoring employees, systems, and projects adopting the change becomes a critical and integral part of any modern management.
The improved risk management enabled coordination, and facilitated communications between technical teams and users also helped small startups. The expanding startup companies are adopting systems that integrate their network while increasing productivity.
Key Points
- The United States market leads the change management software market in terms of market share in North America. The United States region held a market share of 18.1% in 2023. The growth in this region is attributed to the higher adoption of smart technologies, key economic activities, and vendors working on problem-solving functions. The North American region held a substantial market share of 26.6% in 2022.
- Germany’s market is another successful market in the European region. The market holds a market share of 6.5% in 2022. The growth is attributed to expanding corporate structure and high-end software research. Though, the European region held a market share of 21.2% in 2022
- The Indian change management software market booms at a CAGR of 9.4% during the forecast period. The market’s growth is attributed to higher innovation, increased outsourcing businesses, and innovation.
- The Chinese market also thrives at a CAGR of 9.6% between 2023 and 2033.
- Based on deployment mode, the on-premise change management software segment held the leading market share of 58.7% in 2022.
- Based on component type, the software segment performs well as it held a leading market share of 63.4% in 2022.
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Competitive Landscape
The key vendors focus on providing additional tools, better support, and smooth integration in their change management software. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
Key Players
- BMC Software
- IBM Corporation
- Broadcom Inc.
- Cherwell Software, LLC.
- Ivanti
Recent Market Developments
- Freshworks has introduced its IT service management software, Fresh Service which helps corporate structures in rolling out their changes with effective tracking. The platform also keeps each section of the team in the loop.
- IBM has added its application management service with a hybrid cloud for smooth file sharing, data transfer, and enterprise application management.
Key Segments Covered
By Component:
- Software
- Services
By Deployment Type:
- On-Premise
- Cloud-based
By Organization Size:
- SMEs
- Large Enterprises
By Industry Type:
- BFSI (Banking, Financial Services, and Insurance)
- Healthcare and Life Science
- Education
- Government and Public Sector
- Telecom and IT
- Retail and Consumer Packaged Goods
- Others
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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