Productivity software is an integral application adopted across enterprises to facilitate seamless operations, accelerate productivity, and enhance employee productivity. Technological advances comprising AI and machine learning. Additionally, the trend of bring mobile devices to work such as Bring Your Own Device (BYOD) have been increasingly aiding adoption and growth in global productivity software market. Advanced software applications such as productivity software aids in establishing transparent co-ordination platform amongst all stakeholders such as employees, management, and clientele.
Rampant advances in industrialization and emergence of small and medium enterprises across regions further concentrate growth triggers in global productivity software market. In particular, advances in retail, media and entertainment, manufacturing, and logistics amongst others are likely to remain early adopters, thus manifesting growth in global productivity software market.
It is thus safe to conclude that modern workplace transformation, prioritizing flexible workspace, is gradually aiding in mobile operation workforce who work on their personal devices. The trend sis further boosted by cloud based storage system that enables convenient access irrespective of time and place constraints.
The range of productivity classification aided by productivity software is rather magnanimous encompassing elaborate functions such as presentations, database preparation, graphical representations, and digital representations. In a nutshell the various applications of productivity software mainly comprise word processing, spreadsheet design and database maintenance. Factors as such are poised to incur large scale developments and further accelerate growth in global productivity software market.
Adoption across SMEs to Restrain Financial Liabilities Likely to Propel Growth in Productivity Software Market
Multitasking is an integral need across enterprises in present times. Needless to mention streamlining operations to address effectively address core sectors across enterprises has necessitated reliance on advanced interconnected platforms facilitated by tools and processes. These prevailing conditions have rightfully necessitated adoption of cloud-based operations, thereby augmenting need for productivity software. This also simplifies global networking and increases efficiency by significantly minimizing latency.
Additionally, cloud based productivity software is gaining tremendous traction backed by stupendous adoption rates by smaller organizations and enterprises who rely more on third party vendors for cloud based productivity software. This significantly diminishes financial burden amongst organizations, thus allowing them to remain competitive as well as lucrative. Besides large scale adoption across enterprises, global productivity software has been witnessing manifold applications across academia and research and development centers for effective returns.
Slack Acquires Astro to Integrate Advanced Email Infrastructural Support in its Productivity Tool
Considering the hype in productivity software market, market players are consistently striving to to integrate novel business strategies, thus securing their position. Mergers and acquisitions seems to be the norm in global productivity software market. In this light, cloud based team collaboration applications provider Slack has recently acquired competitor, Astro. Slack is best known for its cloud based solutions such as software tools, managing conversations, and files in a single integrated platform. However, Slack did not have any email platform in its solutions previously. To offset this limitation, Slack has acquired the business of Astro which offers high tech email infrastructure such as Astrobot. These business developments in tandem with technological milestones are aimed to upscale growth in global productivity software market.