New York, NY, May 11, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Knowledge Management Market by Offering (Knowledge Management Process, Knowledge Management Systems, Knowledge Management Mechanisms and Technologies, and Knowledge Management Infrastructure); by Organization size (SME’s and Large Enterprise): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2025" has a vast information about the market and its potential.
The global knowledge management market was valued around USD 206,900 million in 2016 and it is expected to reach over USD 1,232,000 million by 2025. The global knowledge management market is expected to grow at a CAGR of more than 22% between 2017 and 2025.
Browse through 50 Tables & 14 Figures spread over 110 Pages and in-depth TOC on "Global Knowledge Management Market Size & Share 2016: Industry Trends Analysis and Forecast, 2025”.
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Market Report Highlights
- Increasing competition among the major player across the globe is creating the need for loyal customers. This factor has increased the requirement for the knowledge management services.
- Organizations are educating their employees for surviving in this cut-throat competition. Knowledge management solutions in the firms can improve the knowledge of staff which will gradually increase the productivity and revenue of the company.
- Knowledge management systems can improve information robustness by adding context and relationship data to stored documents. This is expected to fuel the growth of knowledge management market during the forecast period.
- Knowledge management systems segment held the largest market share of 34.20% in 2017. Knowledge management system (KMS) is a method for improving the business process performance. The knowledge management process segment is expected to register the highest CAGR of 24.6% between 2017 and 2025.
- Large enterprise segment is expected to hold largest market share over the forecast period. Big companies are facing challenges to share knowledge and data with end to end employees due to large employee base. Thus, large organizations are increasingly adopting knowledge management solutions.
- Large enterprise segment is expected to grow at a CAGR 21% between 2017 and 2025.
- APAC is expected to grow at the highest CAGR during the forecast period owing to the increasing financial advisory companies in emerging countries. In addition, the digitalization of organizations across the developing countries has created an opportunity to streamline various financial activities.
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As per our experts, technological advancements and continued innovation across the globe has impacted the BFSI industry’s operating models and has reshaped the banking system. Increasing need for better and faster decision-making in the financial industry is expected to fuel the growth of knowledge management market over the forecast period.
Growing internet operations, advancements in the technology, and the growing mobile force has triggered the competition across every sector thus compelling the market players to adapt themselves to the changing situations and maintain the competitive edge. Owing to these changing conditions in the market there is an increasing demand for the knowledge management as it enables the enterprises to make resourceful use of their knowledge assets. Knowledge management helps in improving the efficiency, customer satisfaction, and revenue of the business. The requirement for better and faster decision–making in the businesses has propelled the growth of the knowledge management market.
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By offering, the knowledge management system segment anticipates holding the dominant position. In 2016, this segment held the largest market share of above 34%. In every industry knowledge management system plays a vital role in decision-making. The knowledge management system aids in taking correct decisions or right strategies that help in lowering the risk of financial crisis. As knowledge management system, helps in sharing, storing, and retrieving right knowledge it increases the accuracy of financial decision-making.
SME’s segment is anticipated to grow with highest CAGR in near future. In any organization, customer satisfaction plays a major part. Knowledge management helps in developing the customer relationships by exchanging relevant information to them and by providing them with quality services. Knowledge management has proved beneficial to the small and medium organizations in improving their business outcomes, thus the demand for the knowledge management will increase in the forecasted period.
By region, North America held the largest market share of 38% in 2016 owing to the early adoption of the knowledge management system in this region. Asia Pacific is expected to grow significantly with highest CAGR during the forecast period. Increasing need for more efficiency and productivity by the financial enterprises in the developing countries has increased the demand for the knowledge management market.
Browse the full “Knowledge Management Market by Offering (Knowledge Management Process, Knowledge Management Systems, Knowledge Management Mechanisms and Technologies, and Knowledge Management Infrastructure); by Organization size (SME’s and Large Enterprise): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2025” report at https://www.zionmarketresearch.com/report/knowledge-management-market
The major market players in the global knowledge management market are Bloomfire, Callidus Software Inc., and Chadha Software Technologies, and ComAround, among others.
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The global knowledge management market is segmented on the basis of the type, applications, and the geographical regions.
Global Knowledge Management Market: Offerings Segment Analysis
- Knowledge Management Process
- Knowledge Management Systems
- Knowledge Management Mechanisms and Technologies
- Knowledge Management Infrastructure
Global Knowledge Management Market: Organization Size Segment Analysis
- SME’s
- Large Enterprise
Global Knowledge Management Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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