Global Innovation Management Market

Innovation Management Market Size, Share, Growth Analysis, By Offering(Solutions, Services (Professional Services (Consulting, System Integration, Training), By Function(Product Development, and Business Processes), By Innovation Management Tools(Project Management Platforms, Marketing Platforms, Design Platforms, Idea Management Platforms), By Vertical(IT & ITeS, Telecom, Banking, Financial Services), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45F2152 | Region: Global | Published Date: October, 2024
Pages: 202 | Tables: 89 | Figures: 71

Innovation Management Market Competitive Landscape

The innovation management industry will further grow as major market players are investing a huge amount in R&D to expand their product line. They are using up several fundamental strategies in plan to expand their global reach, such as product launch, agreement, merger and acquisition, and growing investment on product market development. Industry competitors need to provide cost-effective products in order to maintain and grow a foothold within an ever-cost competitive, mature market industry. The innovation management market is partially consolidated by key players such as BrightIdea Inc., Qmarkets, IdeaScale, Hype Innovation, to name a few. 

Top Player’s Company Profiles

  • Accenture 
  • Planview 
  • SAP 
  • Questel 
  • Insightsoftware 
  • KPMG 
  • Deloitte 
  • Miro 
  • Salesforce 
  • EY (Ernst & Young) 
  • Medallia 
  • Boston Consulting Group (BCG) 
  • Sopheon 
  • Qmarkets 
  • Brightidea 
  • Hype Innovation 
  • Planbox 
  • Ideascale 
  • Innovationcast 
  • Nosco 
  • Wazoku 
  • Inno360 
  • Itonics 
  • Rever 
  • Induct 
  • Sideways 6 
  • Yambla 
  • Ideawake 
  • Loopedin

Recent Development

  • In December 2023, Wazoku announced its acquisition of PosterLab the research and development partnership platform as part of their expansion plans into Germany. 
  • Kearney, a consulting company, announced in July 2023 the acquisition of Silicon Foundry, an advisory firm focused on greening innovative capacity and strategic transformation. 
  • In January 2022, KPMG introduced the Advisory Salesforce Apprentice Program (ASAP) The goal of the program is to identify and cultivate exceptional talent from diverse backgrounds, offer promising client leads to participants, and provide an enabling environment with ample opportunity for innovation, development, accommodation and success. 
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FAQs

Global Innovation Management Market size was valued at around USD 1.28 billion in 2022 and is expected to rise from USD 1.41 billion in 2023 to reach a value of USD 3.19 billion by 2031, at a CAGR of 10.7% over the forecast period (2024–2031).

The innovation management industry will further grow as major market players are investing a huge amount in R&D to expand their product line. They are using up several fundamental strategies in plan to expand their global reach, such as product launch, agreement, merger and acquisition, and growing investment on product market development. Industry competitors need to provide cost-effective products in order to maintain and grow a foothold within an ever-cost competitive, mature market industry. The innovation management market is partially consolidated by key players such as BrightIdea Inc., Qmarkets, IdeaScale, Hype Innovation, to name a few.  'Accenture ', 'Planview ', 'SAP ', 'Questel ', 'Insightsoftware ', 'KPMG ', 'Deloitte ', 'Miro ', 'Salesforce ', 'EY (Ernst & Young) ', 'Medallia ', 'Boston Consulting Group (BCG) ', 'Sopheon ', 'Qmarkets ', 'Brightidea ', 'Hype Innovation ', 'Planbox ', 'Ideascale ', 'Innovationcast ', 'Nosco ', 'Wazoku ', 'Inno360 ', 'Itonics ', 'Rever ', 'Induct ', 'Sideways 6 ', 'Yambla ', 'Ideawake ', 'Loopedin'

As the competition progresses, businesses are gaining an edge with innovations. Through innovation companies can differentiate their product from the competition and gain access to a new consumer segment. With the need to change the business strategy almost all of the industry is shifting their focus from current operations to future opportunities. As a result, this leads in managing the ideas/ innovations on same platform and creates a market favorable system for innovation management.  

Implementation of Cloud Computing: Growing use of cloud-based technologies is predicted to be one of the prominent global innovation management market opportunities. The market trends during the forecast period will be driven by increasing automation and security that can be improved. Another big opportunity in this space lies at the intersection of innovation management software with enterprise social platforms and social media platforms.  

North America accounted for the largest innovation management market share in 2023. North American businesses typically are more willing to adopt new ideas and test new solutions. It is this acceptance that provides fertile ground where innovation management can flourish. Also, the North American region acts as an early adopter to new technologies and innovation management solutions. It is enabling them to benefit from these advances sooner than those in other parts of the world. Hubs such as Silicon Valley create a dense and concentrated environment of innovative startups, established technology companies, venture capitalists, and research institutions. This adoptive ecosystem promotes collaboration, exchanging knowledge and ideas which is expected to boost the market demand. 

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Global Innovation Management Market

Report ID: SQMIG45F2152

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