Dublin, Ireland, Sept. 09, 2022 (GLOBE NEWSWIRE) -- As per the latest industry research by Fact.MR, a market research and competitive intelligence provider, the global product launch software market is estimated at US$ 1.46 billion and is expected to surge ahead at a CAGR of 11.2% between 2022 and 2032.
Product launch planning in the fashion industry requires software to extract information and provide a comprehensive view of data to help brands take better decisions. The tech-resistant fashion industry has shifted to adopt a more agile way of working, leading to easier integration with new technologies inside and outside organizations. Whether searching for patterns in the office or tracking response requests from the inbox, product launch software can help get work done faster. As a result, work can be done more efficiently as a team can plan and organize product launches together.
Real-time product launch software data enables proactive process innovation. By discovering high-performing products early, product launch software is a huge cost-saving tool for many end-use sectors. Utilizing fashion software, businesses can stop producing products that don't get as much as attention to other market products. Additionally, knowing exactly where product samples are in the planning stage helps maximize the opportunities and increases the speed at which they move through the organization, thereby making product launches faster and smoother.
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Key Takeaways from Market Study
- The global product launch software market is projected to reach US$ 4.22 billion by 2032.
- The industry expanded at 8.4% CAGR between 2017 and 2021.
- Under deployment, on-premise product launch software dominated the market with US$ 972.7 million valuation in 2021.
- North America led the global market with 35.2% share at the end of 2021.
- Europe and East Asia together currently represent 48.5% market share.
- Revenue from product launch software is expected to increase at CAGRs of 10.4% and 12.3% in East Asia and North America, respectively.
“Technological advancements in software will offer lucrative opportunities for product launch software market players going ahead,” says a Fact.MR analyst.
Market Development
The ability to deliver services that disrupt markets and outperform the competition is made possible by neural networks, machine learning, natural language processing, and cognitive capabilities. Technological advancements in product launch software with 5G & 6G technology will enable enterprises to build platforms and strategies with reduced power requirements and increased bandwidth.
This will enable businesses to serve their customers in more ways and provide faster, more reliable services. Product launch software will continue to influence the way people shop and the brands they choose to do business with. New software apps are being developed to take advantage of new advances in artificial intelligence (AI) and machine learning (ML).
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Since the turn of the millennium, end users have seen greatly improved access to very large datasets. Combining this large amount of data with faster microprocessors and cloud computing has resulted in the applications built a year ago classed as legacy software, which will help deeper penetration of product launch software.
Competitive Landscape
Prominent product launch software market players are Anaplan Inc., BioStrata, Winshuttle LLC., Ennov, Viral loops, Atlassian, Wrike Inc., BrainKraft LLC, Arena Solutions, Synoptek LLC, Relytree Technologies Private Limited & Relytree Inc., IQVIS, Qadex, Movere, and LiveSource Ltd.
Fact.MR has provided detailed information about the price points of key companies providing product launch software positioned across regions, sales growth, and speculative technological expansion, in the recently published report.
Segmentation of Product Launch Software Industry Research
- By Application :
- Marketing Campaigns
- Marketing Automation
- Referral Tracking Tools
- Real-time Reporting
- Landing Pages & Website Forms
- Data Analytics & Insights
- Task Management
- Others
- By Deployment :
- On-premise
- Cloud
- By Enterprise Size :
- Small Enterprises (Up to 50 Emp.)
- Medium Enterprises (51-250 Emp.)
- Large Enterprises (251-1000 Emp.)
- Very Large Enterprises (Above 1000 Emp.)
- By End User :
- IT & Telecom
- Retail & Consumer Goods
- Fashion & Beauty
- Electronics & Electrical
- Automotive
- Chemicals & Petrochemicals
- Food & Beverages
- Healthcare & Life science
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global product launch software market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of application (marketing campaigns, marketing automation, referral tracking tools, real-time reporting, landing pages & website forms, data analytics & insights, task management, others), deployment (on-premise, cloud), enterprise size (small enterprise (up to 50 emp,), medium enterprises (51-250 Emp.), large enterprises (251-1000 emp.), very large enterprises (above 1000 emp.)), and end user (IT & telecom, retail & consumer goods, fashion & beauty, electronics & electrical, automotive, chemicals & petrochemicals, food & beverages, healthcare & life science, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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