innovation management

Innovation Management Market - Global Industry Insights, 2017–2025
Innovation management is an integration of the management change and innovation
processes. It refers business process, product and industrial innovation. The changing work
culture become one of the key driver for the growth of the market. Various organization
adopting the innovation management software and solution to innovate or improve the
existing product according to customer demand. Moreover, raising demand of open or
crowdsourcing innovations and increasing demand for innovative products provides rapid
traction to the innovation management market globally.
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Innovation management market taxonomy
On the basis of vertical, the global Innovation management market is classified into:
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Aerospace & Defense
Automotive & Manufacturing
Banking, Financial Services, and Insurance
Healthcare & Pharmaceuticals
IT, Media, and Communication Technology
Public Sector & Education
Retail & Consumer Goods
Transportation & Logistics
Others
The retail & consumer goods vertical holds the dominant position in the global Innovation
management market. With the help of innovation management solution the retailers finds a
way to increase the distribution or sales of the product and innovate new business ideas
which helps to improve the customer relations. Moreover the healthcare and pharmaceutical
segment is projected to grow with the largest CAGR in the forecast period due to changing
patient demand and digitalization. These changes have challenged the healthcare and
pharmaceutical business to innovate the new strategies and fulfill the requirement of the
patients.
On the basis of application, the global Innovation management market is classified into:
Collective Intelligence & Prediction Platforms
● Human Resource Platforms
● Marketing, Design, and Idea Platforms
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Product Research & Development Platforms
The product research & development platforms holds the dominant position in the global
Innovation management market. The increasing demand of advanced product and changing
requirement of the customers has forced the companies to adopt innovation management
solution to innovate new product. Moreover the collective intelligence & prediction platforms
segment is expected to grow with largest CAGR owing to open and crowdsourcing
innovation helps to generate ideas offers the growth opportunity to the segment in the
innovation management market.
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On the basis of deployment model, the global Innovation management market is classified
into:
Cloud based model
● On premises model
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The cloud deployment model is expected to grow with largest CAGR during the forecast
period. Due to less cost in terms of maintenance, licensing and deployment and provides
remote location access features has increased the demand of cloud based innovation
management market globally.
On the basis of organization size, the global Innovation management market is classified into:
Large Enterprises
● Small & Medium Enterprises
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The Small & Medium Enterprises is expected to grow with the largest CAGR during the
forecast period. Due to increasing stiff competition in the market and changing customer
requirement has increased the demand of the innovation management software and solution
market in the small and medium enterprises.
On the basis of revenue type, the global Innovation management market is classified into:
Software
● Services
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Innovation management Market Outlook – North America holds the largest market of
the global Innovation management market.
On the basis of geography, global Innovation management market is classified into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds
the dominant position in the global Innovation management market in 2016 and is projected
to retain its dominance throughout the forecast period. Due to the strong presence of solution
providers, highly adoption of new technology and internet infrastructure provides the growth
opportunity to the Innovation management market in North America region. In addition of
this, the demand of better business processes and operational efficiency at low operating costs
is forecasted to drive the market of innovation management in this region
Key companies of global Innovation management market
Brightidea, Incorporated, CogniStreamer, Crowdicity Ltd., Exago Inc., Hype Innovation,
Inc., Ideascale, Imaginatik PLC, Inno360, Inc., Innosabi GmbH, Planbox, Inc., Qmarkets,
SAP SE and Spigit, Inc. are some of the key companies of the global Innovation management
market.
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