What is Crowdsourcing Software Market?
Crowdsourcing software is an online platform that provides tools to collect and harness the ideas and insights of the company's employees, customers, and partners. It is an open call for participation in any task of software development, including documentation, design, coding and testing. It provides a platform for the employees to cultivate and generate new, meaningful and impactful ideas. It also helps to encourage the employees to openly express their ideas will be met with reluctance.
The market study is being classified and major geographies with country level break-up.
Planview (United States), Brightidea (United States), Planbox Inc. (Canada), IdeaScale (United States), Sopheon Corporation (United States), IdeaConnection (United States), SAP SE (Germany), Exago, Inc. (United States), innosabi GmbH (Germany) and HYPE Innovation (Germany) are some of the key players profiled in the study.
Segment Analysis
Analyst at AMA have segmented the market study of Global Crowdsourcing Software market by Type, Application and Region.
On the basis of geography, the market of Crowdsourcing Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Crowdsourcing Offers Higher Probabilities of Success
- Automates the Parts of the Crowdsourcing Process
Market Trend
- Requirement for Cost-Effective Software Development Process
Restraints
- Concerns over Data Privacy Regulations across the Globe
Opportunities
- Growing Adoption of Cloud Computing
- Increasing Demand from End-User Industries
Challenges
- Lack of Awareness among Developing Regions
On 20th December 2018, Planview has acquired Spigit, the world's innovation management software leader. With more than six million users across 170 countries, Spigit provides organizations the ability to tap into the collective intelligence of employees, partners, and customers to accelerate innovation by finding the best ideas and making the right decisions.
Key Target Audience
Crowdsourcing Software Providers, Research Professionals, Emerging Companies, Government Body & Associations and End-user