About Knowledge Management Software
Knowledge management software refers to the software which is the subset of enterprise content management software. This software allows us to identify, evaluate, retrieve and share information. These data can be accessed anytime anywhere on the internet. It provides consistent responses, reduce training times, and improve governance and increase customer satisfaction and others. These factors are the driving factors for the market growth of knowledge management software.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 11.6% |
There are various companies are exploring the market in new geographical regions by adopting various market growth strategies such as mergers & acquisitions, expansions, investments, new product launches and many others. The market leading players are exploring new opportunity areas through expansions and acquisitions across the globe to avail competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Knowledge Management Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Freshworks Inc. (United States), Atlassian Corporation Plc (Australia), eXo Platform (United States), Bitrix, Inc. (United States), Lucidea (Canada), Yonyx Inc. (United States), MangoApps Inc. (United States), EduBrite Systems Inc. (United States), ProProfs (United States) and Callidus Software Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Nuance (United States), Theum (Germany), Chadha Software Technologies (India), Auros Knowledge Systems (United States) and Connotate (United States).
Segmentation Overview
AMA Research has segmented the market of Global Knowledge Management Software market by Type (Cloud, SaaS, Web, Mobile - Android Native and Mobile - iOS Native), Application (Small Business, Medium-sized Business and Large Business) and Region.
On the basis of geography, the market of Knowledge Management 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). If we see Market by Deployment Type, the sub-segment i.e. On Premises will boost the Knowledge Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Government and Defense will boost the Knowledge Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Developments and Introduction of New Solutions
Market Growth Drivers:
Growing Awareness About Knowledge Management Software
Challenges:
Lack of Skilled Professionals
Restraints:
High-Cost Associated With Knowledge Management Software and Technological Lag and Need for Business Process Restructuring
Opportunities:
Growing Awareness About Knowledge Management Software and Rise in Demand in Small and Medium Enterprises in Developing Countries
Market Leaders and their expansionary development strategies
In November 2022, IgniteTech, the company Where Software Goes to Live, announced the asset acquisition of AnswerHub, Inc., a powerful knowledge management platform built to capture, curate, and distribute the expertise of developers and technical teams.
In February 2024, Lexsoft Systems, a provider of IT and business process solutions, announced the launch of Lexsoft T3 GenAI, a new knowledge management (KM) solution within its T3 product suite, powered by Microsoft OpenAI technology, to deliver Copilot-like functionality and user experience to the KM function. This out-of-the-box, ready-to-deploy, and best practice-led solution marks a step change in KM capability, enabling law firms to simplify and automate critical processes, fully supported with visual and actionable data analytics.
Key Target Audience
Knowledge management software Companies, Software Providers, Original Equipment Manufacturers, Knowledge Management Software Providers, Research and Development Companies, Market Research and Consulting firms, Solution Providers, Technology Standards Organizations, Technology Investors and System Integrators
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.