Global Innovation Management Market Sees Growing Focus of Enterprises on the Development of New, Innovative, and Personalized Products

Dublin, June 12, 2020 (GLOBE NEWSWIRE) -- The "Innovation Management Market by Function (Product Development & Business Processes), Type (Solutions & Services), Deployment Mode, Enterprise Size, Vertical (Healthcare & Pharmaceuticals, IT & Telecommunications), and Region - Global Forecast to 2025" report has been added to's offering.

The global innovation management market size is forecast to grow from USD 918 million in 2020 to USD 1,663 million by 2025, at a CAGR of 12.6% during the forecast period. The major growth factors for the market include the increasing demand for crowdsourcing innovation across verticals and changing work culture in enterprises. However, the mindset of leaders towards traditional approaches may restrain the market growth.

By function, the innovation management market is subsegmented into product development and business processes. Among functions, the product development segment is expected to grow at a higher growth rate during the forecast period as enterprises are focused on customer-centric product development. Thus, product research and development platforms are very useful for the development of innovative products.

The innovation management market is segregated into various verticals, including aerospace and defense, Banking, Financial Services, and Insurance (BFSI), healthcare and pharmaceuticals, government, retail and eCommerce, IT and telecommunications, manufacturing, transportation and logistics, and others (education, media and entertainment, legal, construction, agriculture, energy and utilities, and Non-Profit Organizations [NPO]). These verticals are expected to witness high adoption of innovation management solutions to achieve benefits, such as optimized storage information resources, lower risks, improved enterprise efficiency, and transparency in the innovation process of enterprises. Among these verticals, the healthcare and pharmaceuticals vertical is expected to grow at the highest growth rate. Healthcare and pharmaceutical organizations are focusing on changing their business plans for meeting the needs and expectations of patients and consumers worldwide.

The innovation management market by region covers North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest market size of the innovation management market. The region has been adopting innovation management solutions. It has been extremely responsive toward adopting the latest technological advancements, such as integrating technologies with Artificial Intelligence (AI), cloud, and mobile technologies with the use of traditional innovation management solutions. The major growth driver for this region is the presence of rigorous government standards and regulations framed for various industries.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Innovation Management Market, by Function, 2020 Vs. 2025
4.3 Market, by Deployment Mode, 2020 Vs. 2025
4.4 Market, by Vertical, 2020 Vs. 2025
4.5 Market: Major Contributing Countries

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increasing Demand for Crowdsourcing Innovation Across Verticals Changing Work Culture in Enterprises Growing Focus of Enterprises on the Development of New, Innovative, and Personalized Products
5.2.2 Restraints Inefficiency of Enterprises to Track Reliable Roi from Innovation Management Solutions Mindset of Leaders Towards Traditional Approaches
5.2.3 Opportunities Impact of Disruptive Technologies to Increase the Adoption of Innovation Management Solutions Emerging Potential Markets to Provide High-Growth Opportunities
5.2.4 Challenges Security and Privacy Concerns Over Enterprise Information
5.3 Development of Innovation
5.4 Use Cases
5.5 Regulatory Policies
5.6 Impact of Covid-19 on Innovation Management Market
5.7 Value Chain Analysis
5.8 Technology Analysis

6 Innovation Management Market, by Function
6.1 Introduction
6.1.1 Functions: Market Drivers
6.2 Product Development
6.3 Business Processes

7 Innovation Management Market, by Type
7.1 Introduction
7.2 Solutions
7.3 Services

8 Innovation Management Market, by Deployment Mode
8.1 Introduction
8.2 Cloud
8.3 On-Premises

9 Innovation Management Market, by Enterprise Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Innovation Management Market, by Vertical
10.1 Introduction
10.2 Aerospace and Defense
10.3 Banking, Financial Services, and Insurance
10.4 Healthcare and Pharmaceuticals
10.5 Government
10.6 Retail and Ecommerce
10.7 Information Technology and Telecommunications
10.8 Manufacturing
10.9 Transportation and Logistics
10.10 Others

11 Innovation Management Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America

12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping

13 Company Profiles

  • Brightidea
  • EY
  • Exago
  • Hype
  • Ideascale
  • Inno360
  • Innocentive
  • Innosabi
  • Innovationcast
  • KPMG
  • Medallia
  • Nosco
  • Planbox
  • Planview
  • Qmarkets
  • SAP
  • Salesforce
  • Sopheon
  • Viima

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