Global Innovation Management Market (2021 to 2026)

DUBLIN, April 20, 2022 /PRNewswire/ — The “Global Innovation Management Market with COVID-19 Impact Analysis by Component (Solutions and Services), Function (Product Development and Business Processes), Deployment Mode, Organization Size, Vertical, and Region – Forecasts until 2026″ report has been added to from offer.

The global innovation management market is expected to grow from $1 billion in 2021 for $1.7 billion by 2026, at a compound annual growth rate (CAGR) of 10.2% over the forecast period.

Innovation management solutions are rapidly being accepted worldwide by large enterprises and SMEs due to various benefits including the rise of digitalization and the emerging trend of workplace transformation, reduction costs, effective collaborations and reduced time to market for new products.

Innovation Management Services Expected to Hold Higher Market Share

With the growing adoption of innovation management solutions across major verticals, the demand for support services is also increasing. Services play a crucial role in helping companies take full advantage of innovation management solutions. Innovation management services are primarily segmented into consulting; Integration system; and training, support and maintenance. Systems integration services provided by innovation management solution providers offer consistent services to end users including large enterprises and SMBs. These services effectively implement and integrate innovation management solutions with existing IT infrastructure systems. They further enable the integration of essential software to assemble dispersed systems of devices that remain effectively linked to IT infrastructures.

Product development function is gaining traction with end users

Previously, companies focused more on product innovation and improvement. R&D activities are carried out by companies to develop new products, solutions, processes and services to improve the customer experience. Company R&D teams play a major role in the formulation and development of quality products. Thus, product R&D activities are very helpful in developing innovative and improved products for the satisfaction of end users. The growing demand for new and innovative products across the world from consumers has led to the development of new products by companies.

To increase employee productivity and maintain a competitive edge in the marketplace, SMBs are adopting innovation management solutions across the globe

Companies with less than 1,000 employees are classified in the SME segment. Maximum productivity and reduced costs are crucial factors for these companies, as they have limited budgets to follow the ideas of crowdsourcing. Therefore, these companies take advantage of freely available public cloud storage or a limited on-premises innovation management solution. SMBs generate less enterprise data than large enterprises. This saves the overall cost of installing innovation management solutions.

Growing focus on business continuity plans set to gain traction during pandemic

The cloud deployment mode provides flexibility and scalability, as well as ease of management. Cloud-based deployment refers to the hosted type deployment of innovation management solutions. There has been an upward trend in deploying innovation management solution via cloud or dedicated data center infrastructure. Benefits of hosted deployment include reduced physical infrastructure, reduced maintenance costs, 247 accessibility, and efficient e-business content scanning. A dedicated data center is also provided by innovation management solution providers, which boosts in-house integrations and reduces additional third-party integration overhead.

Innovation management solutions and services are adopted by organizations across most verticals as these solutions and services help companies generate new business models and create new products, services and technologies across different verticals through the generation of new ideas.

The IT and telecommunications vertical plays a very important role in the growth of the innovation management market. The vertical is growing rapidly and is considered one of the significant verticals in the innovation management market. The growing need for creative, personalized and innovative ideas is expected to drive the growth of the IT and telecommunications vertical, as new, personalized and innovative ideas have led companies in this vertical from all regions to engage in indoor or outdoor activities. the vertical.

North America Dominate the Innovation Management Market in 2021

North America has been an extremely open and competitive market in terms of adoption of innovation management solutions across verticals, such as healthcare, IT, aerospace, and manufacturing. It is the first region to adopt innovation management solutions. He has been extremely responsive in adopting the latest technological advancements, such as integration technologies with AI, cloud and mobile technologies in traditional innovation management solutions. The major driver of growth in this region is the stringent government standards and regulations set for various industries. Failure to comply may result in fines and other serious penalties. Another driving factor is the demand for improved operational efficiency that helps organizations archive legacy data and retain only recent and necessary data in secondary storage.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive Summary

4 premium previews
4.1 Attractive Growth Opportunities in the Innovation Management Market
4.2 Market, by component
4.3 Market, by mode of deployment
4.4 Market, by vertical
4.5 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers Increase in Demand for Crowdsourcing Innovation in Verticals Changing the work culture in companies Growing Business Focus on New, Innovative and Personalized Product Development Increased adoption of cloud-based innovation management solutions
5.2.2 Constraints Business Inefficiencies to Track Reliable RO from Innovation Management Solutions Leaders’ attitude towards traditional approaches
5.2.3 Opportunities Impact of disruptive technologies to increase adoption of innovation management solutions Potential markets emerging to provide strong growth opportunities Increased Need for Informed Business Decisions Increased adoption of innovation management solutions by SMEs
5.2.4 Challenges Security and Privacy Concerns Regarding Corporate Information
5.3 Development of innovation
5.4 Analysis of case studies
5.5 Regulatory policies
5.6 Supply Chain Analysis
5.7 Technology Analysis
5.8 Patent Analysis
5.9 Ecosystem
5.10 Porter’s Five Forces Analysis
5.11 Impact of COVID-19 on the Innovation Management Market
5.12 Price Analysis
5.13 Trends/disruptions affecting buyers

6 Innovation Management Market, By Component
6.1 Presentation
Dimension 6.1.1: Market Drivers
6.1.2 Component: Impact of COVID-19
6.2 Workarounds
6.3 Services
6.4 Consulting
6.5 System integration
6.6 Training, support and maintenance

7 Innovation Management Market, By Function
7.1 Presentation
7.1.1 Function: market drivers
7.1.2 Function: Impact of COVID-19
7.2 Product development
7.3 Business processes

8 Innovation Management Market, By Deployment Mode
8.1 Presentation
8.1.1 Mode of deployment: market drivers
8.1.2 Mode of deployment: Impact of COVID-19
8.2 On-site
8.3 Cloud

9 Innovation Management Market, By Organization Size
9.1 Presentation
9.1.1 Organization Size: Market Drivers
9.1.2 Size of organization: impact of COVID-19
9.2 Large companies
9.3 Small and medium enterprises

10 Innovation Management Market, By Vertical
10.1 Presentation
10.1.1 Vertical: market drivers
10.1.2 Verticals: impact of COVID-19
10.2 Banking, financial services and insurance
10.3 Aeronautics and Defense
10.4 Health and Pharmaceuticals
10.5 Retail and e-commerce
10.6 Information technology and telecommunications
10.7 Government
10.8 Manufacturing
10.9 Transport and logistics
10.10 Other Vertical Markets

11 Innovation Management Market, by Region

12 Competitive landscape
12.1 Presentation
12.2 Market Ranking
12.3 Major Vendors Market Share
12.4 Historical Revenue Analysis of Major Vendors
12.5 Business Rating Quadrant
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Ubiquitous Players
12.5.4 Participants
12.6 Startup/SME Assessment Quadrant
12.6.1 Responsive Suppliers
12.6.2 Progressive Providers
12.6.3 Dynamic Providers
12.6.4 Starting Blocks
12.7 Competitive Scenario

13 company profiles
13.1 Key Players
13.1.1 Accenture
13.1.2 SAP OS
13.1.3 Sopheon
13.1.4 Plan view
13.1.5 Markets
13.1.6 Bright Idea
13.1.7 Planbox
13.1.8 HYPE
13.1.9 Scale of ideas
13.1.10 Innosabi
13.1.11 Viima
13.1.12 exago
13.1.13 KPMG
13.1.14 InnovationDistribution
13.1.15 nosco
13.1.16 Selling power
13.1.17 Innocent
13.1.18 Medals
13.1.19 EY
13.1.20 Deloitte
13.1.21 Boston Consulting Group
13.2 Start-ups/SMEs
13.2.1 Submitting an idea
13.2.2 Inno360
13.2.3 ITONICS
13.2.4 Reverse
13.2.5 Induction
13.2.6 Lateral 6
13.2.7 Yambala
13.2.8 Ideawake
13.2.9 Loop
13.2.10 Miro

14 Adjacent/Connected Markets

15 Appendix

For more information on this report, visit

Media Contact:

Research and Markets
Laura Woodsenior
[email protected]

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900

US Fax: 646-607-1904
Fax (outside the US): +353-1-481-1716

SOURCE Research and Markets

Source link