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INNOVATION MANAGEMENT MARKET WORTH 1,519.2 MILLION USD BY 2020

Aruba, May 29, 2017 - According to a new market research report "Innovation Management Market by Type (Software, Services), Service, Deployment Mode, Organization Size, Application (Product Research & Development Platforms, Marketing, Design, and Idea Platforms), Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets(TM), the market is estimated at USD 421.6 Million in 2017 and is projected to reach USD 1,519.2 Million by 2022, at a CAGR of 29.2% during the forecast period.

Some of the major factors driving the Innovation Management Market include changing work cultures in different organizations, increasing demand for open or crowdsourcing innovations from various organizations, and increased focus of companies on the development of new and innovative products.
 
Innovation management software is expected to hold the largest market share in the Innovation Management Market.
 
Innovation management software market is expected to hold the largest market share during the forecast period. Companies across the globe are carrying out innovations in their existing product portfolios to increase their market shares. Increased demand for innovative products across the globe is driving innovation management software companies to develop new products that meet customer requirements.The product research & development platforms are projected to hold the largest market share during the forecast period in the Innovation Management Market. The increased demand for innovative products leads to the development of new products by companies to cater to the changing requirements of customers. The ideas given by employees through the innovation management platform help R&D departments of the concerned enterprises to upgrade and develop their products accordingly.
 
 

By orbitalnets.com