How Has the Organizational Change Management Software Market Evolved Historically and What is its Current Size?
The organizational change management software market has seen considerable growth due to a variety of factors.
• The market size of software for managing organizational change has seen robust growth in the past few years. The projection is for it to soar from $2.92 billion in 2024 to $3.45 billion in 2025, with a compound annual growth rate (CAGR) of 18.0%.
This growth experienced in history is credited to phenomena such as globalization, the complexity of change initiatives, employee engagement and satisfaction, cost decrease and effectiveness, as well as organizational culture and leadership.
What Does Future Hold for The Organizational Change Management Software Market By 2029?
The organizational change management software market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the organizational change management software market is projected to witness accelerated growth, expanding to $6.61 billion by 2029, with a compound annual growth rate (CAGR) of 17.7%.
This expansion during the forecast period can be linked to factors such as digital transformation, the trend of remote work and dispersed teams, AI and automation, issues around cybersecurity and data privacy, cultural transformation, and health and well-being initiatives. Key trends throughout this forecast period encompass the integration of AI and machine learning, improved user experience, incorporation with collaboration tools, a focus on employee well-being, and agile and iterative methods.
What Are The Primary Growth Drivers In The Organizational Change Management Software Market?
The upward trajectory of the organizational change management software market is predicted to be fueled by the growing requirement for remote management. Remote management encompasses the supervision and control of resources, systems, devices, or operations from a distant location, commonly enabled by remote access tools and technologies. The rising demand for remote management can be attributed to the shift towards remote work, technological progression, and the necessity for cost-effectiveness and business continuity. Organizational change management software plays a crucial role in assessing the effects of incorporating remote access, tracking, and administrative functions into existing processes, pinpointing potential resistance from stakeholders, and formulating strategies to synchronize procedures with remote management goals. For instance, data from the Bureau of Labor Statistics, a US government agency, showed that the proportion of employees working remotely stood at 42.2% in 2022, a significant increase from 37.4% in 2021. Consequently, the demand for remote management is propelling the expansion of the organizational change management software market.
What Is The Segmentation Of The Global Organizational Change Management Software Market?
The organizational change management software market covered in this report is segmented –
1) By Product: Cloud-based, On-premises
2) By Application: Small And Medium Enterprises (SMEs), Large Enterprises
3) By End User: Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecom, Government And Public Administration, Healthcare, Education, Retail, Energy And Utilities, Manufacturing, Construction And Real Estate, Other End Users
Subsegments:
1) By Cloud-based: SaaS (Software As A Service), Hybrid Cloud, Public Cloud, Private Cloud
2) By On-premises: Enterprise License, Perpetual License, One-Time License, Subscription
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How Are New Trends Impacting The Size Of The Organizational Change Management Software Market?
Prominent companies in the organizational change management software market are progressively incorporating specialized modules or features, such as regulatory change management, to meet regulatory compliance needs and enhance change management procedures. These unified RCM functionalities empower businesses to oversee regulatory modifications, determine their effects on company operations, and smoothly implement necessary adjustments as a part of extensive change management efforts. For example, in July 2022, Onspring—an America-based software firm—introduced its Regulatory Change Management (RCM) solution. This solution has been uniquely crafted to extend immediate insight and authority over regulatory alterations and their compliance consequences for corporations. It promptly informs compliance groups about regulatory modifications and existing responsibilities in real-time, enabling the initiation of impact evaluations to analyze potential risks and required remedial measures. Using Onspring's RCM solution, companies can adopt a methodical, unified, and automatic method to handle regulatory change.
Who Are the Key Players In The Organizational Change Management Software Market?
Major companies operating in the organizational change management software market are:
• Microsoft Corporation
• Accenture Plc
• International Business Machines Corporation
• Deloitte Touche Tohmatsu Limited
• Oracle Corporation
• SAP SE
• Salesforce Inc.
• ServiceNow Inc.
• Bain & Company Inc.
• Change Compass Inc.
• OpenText Corporation
• ManageEngine
• Freshworks Inc.
• Praxis
• ServiceAide Inc.
• Nakisa Inc.
• Whatfix Inc.
• SysAid Technologies Ltd.
• Cognician Inc.
• SmartSolve LLC
• FluentPro Software Corp
• Orgmapper
• Canfigure
• Gensuite
• jTask Inc.
What Are The Regional Insights Into The Organizational Change Management Software Market?
North America was the largest region in the organizational change management software market in 2024. The regions covered in the organizational change management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
