With easy access to the internet, travel has gone online too. The newly empowered consumers are now more aware and are actively preferring hassle-free online booking travel options. Meta search engines are providing time-saving options with the best deals to consumers. As a result of technological advancements, benefits such as time-saving, cost-friendly, easy access, more options, and price comparisons, meta-search engines are experiencing booming traffic.
The need for hassle-free, cost-efficient, time-saving travel options is the need of the hour in the travel industry. Consumers from diverse industries and verticals can now opt for a direct booking option than relying on the travel agent. The meta-search engines now provide a more user-friendly and time-saving option and are visibly experiencing rapid growth patterns.
Many firms manage, present, and alter data using spreadsheets. Finding the best spreadsheet software depends on which characteristics are most crucial for the desired activity because every firm has distinct needs. There are necessities that must be addressed, and not all of the possibilities are sufficient. The best spreadsheet tools will include interesting graphs and charts that are simple to make and customize, and they will be user-friendly, adaptable, and feature-rich.
Apart from the advantages provided to the consumers like being user-friendly, adaptable, and feature-rich, it also provides corporate companies a route to collaborate and analyze more data in reduced time, real-time co-authoring, cloud services, and the ability to link external data allowing more companies to work seamlessly. The overall market is anticipated to grow to a size of over 40 billion at a CAGR of over 6.5% through the forecast span of 2031.
When working with figures, spreadsheet software offers a clear edge over word processors. Effective data handling is achievable because calculations and functionality are simpler to represent in spreadsheets than in word processors. Additionally, spreadsheet software offers customizable data presentation. These programs can connect with databases, fill in blank fields, and assist in automating the production and updating of data. Spreadsheet software makes it simple to collaborate and may be shared both online and offline.
However, the inability to scale for access and manipulating large data volumes, the restriction on the number of records, the inefficiency in handling large amounts of text, the inability to create reports like databases, the high storage requirements, and the absence of specific querying and sorting techniques are some of the drawbacks of spreadsheet software.
These issues also pave the way for opportunities, newer versions of the spreadsheet editor tools enable more user-specific and detailed features. With improved features like cloud storage, formula builders, automatic analysis, and some software companies like Zoho which offer a whopping 350 plus functions provide a positive user experience leading to more companies buying this software.
On-premises based software to Emerge as the Most Lucrative Segment
The office software industry will continue to grow as a result of a number of advantages, including increased labor productivity, shorter tool response times, and efficient business process management. Additionally, SMEs are working to reduce costs and hassles wherever they can because they have an exhaustive budget for specialized communications and IT service providers. This would also help in the growth of emerging and frontier markets. Companies get better access to the data and troubleshooting while managing disaster recovery, with the on-premises deployment of office software. Large businesses all around the world are choosing to install office software on-site because of the security and improved functionality it provides. Because it gives businesses complete software and service control, the on-premise deployment method is expanding. As the vendor provides the organization with a license copy of the product, the organization gets full access to and control over its data and maintenance.
North American Region to Remain Atop
In regards to revenue, North America held the highest market share in 2021. Due to factors including increased adoption of enterprise office software and widespread use of cloud computing technologies and solutions, it is anticipated that the office software solution would develop more quickly in North America. Furthermore, the market is anticipated to advance due to the growth of small businesses and rising SME investment in the cloud and SaaS sectors. By taking various steps to encourage greater business trust in the cloud, local governments play a critical role in the expansion of the cloud integration services market throughout the region, opening up new opportunities for the global industry.
Asia Pacific market is expected to grow rapidly owing to the growing number of start-ups and expansions. Companies have adopted the work-from-home approach as a result of COVID-19 in rising markets like China, India, and Japan, installing more office software as a result. The regional market outlook is also experiencing a significant improvement as a result of the expanding use of cloud computing services.
Covid-19 Impact & Market Status
Due to the lockdowns imposed by governments across a number of nations during the COVID-19 epidemic, organizations were compelled to utilize WFH models. These sudden developments forced organizations to review their working procedures, and digitalization became a primary priority for them in order to maintain operations.
Businesses and SMEs are becoming more interested in cloud-based business applications and services during the pandemic across a number of sectors, including IT, telecommunications, and healthcare. The requirement to work from home is giving solution and service providers a once-in-a-lifetime chance to advertise office suites as a crucial component of corporate stability and highlight the flexibility and business agility it delivers. This trend is anticipated to fuel market expansion.
The major players in the Spreadsheet Editor market are Apple, Google, Microsoft, Zapier, Apache Software Foundation, COQsoft, Hancom, LibreOffice, Ragic, Kingsoft, Spreadsheet software, Mariner Software, Mobisystems Inc, Quip, Zoho corporation, Smartsheet, Ascensio System, WPS Office, Libre Office, Dinamenta, TreeGrid among others. The spreadsheet editor market is a fast-growing industry due to the growing adoption of powerful tech-rich features which offer maximum options, are simple to use, and are easy for companies to collaborate with. Further, renowned industry players providing more reliable versions of the software with user-specific functions help businesses to opt for service providers with more tailored needs and in turn increase the sales of the software.
Latest Innovations in the Spreadsheet Editor Market: a Snapshot
• Jan 2021: Stacker raises $1.7 million, to assist no coders to create apps from spreadsheets.
• January 2022: With its innovative approach to the spreadsheet, Sea Table reinvents a staple of the industry. A new release from Accounting Seed, Surgent's mobile CPA exam prep, a recent flurry of funding rounds for technology companies, and other new tools and reports are among the recent releases.
Spreadsheet Editor Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 40 billion|
|Growth Rate||CAGR of 6.5% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Apple, Google, Microsoft, Zapier, Apache Software Foundation, COQsoft, Hancom, LibreOffice, Ragic, Kingsoft, Spreadsheet software, Mariner Software, Mobisystems Inc, Quip, Zoho corporation, Smartsheet, Ascensio System, WPS Office, Libre Office, Dinamenta, TreeGrid among others.|
Key Segments of the Spreadsheet Editor Market
Type Overview, 2021-2031 (USD Billion)
Application Overview, 2021-2031 (USD Billion)
- Large Enterprise
By Mode of Deployment Overview, 2021-2031 (USD Billion)
- On Premises
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa