Market Overview:
The global innovation management market is anticipated to reach a value of over USD 2.9 billion growing at a CAGR of 14.20% from 2022 to 2030.
The process of an organization's innovation, from idea inception to actual execution, is referred to as "Innovation Management." The operation includes developing possibilities, taking a creative stance, and applying procedures and methodologies. The development of novel products, services, and talents is made possible by technology. To transform businesses, these creative management initiatives frequently employ a disruptive change strategy.
The most significant factor influencing the global market for innovation management market share in 2020 is the increased customer desire for novel products to fulfill their demands. In addition, it is anticipated that a change in workplace culture would contribute significantly to market growth. The rapid rate of global economic growth and development has been crucial to the expansion of the market over the review period.
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On the other hand, it is predicted that the proliferation of COVID-19 will drastically alter market dynamics. The proliferation of COVID-19 hurts the global market for managing market innovation.
While some businesses will fail and others will persist and exhibit significant development opportunities, an analysis of the market for innovation management comprises thorough research that addresses all needs. Additionally, it takes into account all likely market circumstances, including the results of the COVID-19 inquiry.
These methods aid in determining COVID-19's impact on businesses and producers. SWOT analyses are used to evaluate the diverse segments of the market.
Market Segmentation
By Type:
The software, training and education services, services, system design, integration services, and consulting services categories make up the global market for innovation management.
By Deployment:
The market for innovation management market software can be divided into two segments based on deployment: on-premise and cloud.
By Application:
Application-wise, the global market for market innovation management may be divided into platforms for product research and development, human resources and freelancing, marketing, design and idea platforms, and collective intelligence and prediction platforms.
Regional Classification
Asia Pacific, Europe, North America, and the Rest of the World (RoW) have all been thoroughly examined. According to the report, the market is anticipated to expand significantly throughout the study period.
During the review period, it is predicted that the APAC area will grow the fastest. India, China, and Japan are among the nations in the area that are developing the fastest and are anticipated to significantly contribute to the growth of the regional market.
The largest market share is most likely to come from North America. The area is technologically advanced, and it is projected that the growing demand for creative items to satisfy customer wants would have an impact on the regional market.
List of Key Players Covered In The Innovation Management Market Report:
- Qmarkets (Israel)
- BrightIdea Inc. (U.S.)
- Hype Innovation (Germany)
- IdeaScale (U.S.)
- Innosabi GmbH (Germany)
- Cognistremer (Belgium)
- Crowdicity Ltd (U.K.)
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Industry News
The Advisory Salesforce Apprentice Program was launched by KPMG in May 2022. (ASAP). The program's objectives include developing outstanding talent from a variety of backgrounds, providing participants with access to promising client leads, and fostering an inventive environment where everyone can succeed.
KPMG chose ICONICS for its global innovation management market platform in January 2022 to foster innovation, co-creation, and co-investment of fresh ideas and solutions with customers, alliance partners, startups, and others. The revised innovation management solution from KPMG will be called Illuminate and will be powered by ICONICS. It will replace the KPMG Innovation Factory and include AI-driven market insights and signals, crowdsourcing and ideation, incubation management, and portfolio management.
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