Knowledge Management Software Market Driven by Growing Emphasis on Personalized Learning – Technavio

NEW YORK , Nov. 16, 2023 /PRNewswire/ — In a comprehensive analysis conducted by Technavio, titled “Knowledge Management Software Market Analysis – North America, APAC, Europe, South America, Middle East and Africa – Size and Forecast 2024-2028,” the transformative influence of knowledge management software comes to light. The market anticipates significant growth with an estimated increase of USD 25.30 billion between 2023 and 2028. Request Sample Report

The market is primarily driven by several key factors driving its expansion, including the emphasis on personalized learning, integration of AI with knowledge management software, and the challenges associated with operational implementation in organizations. Knowledge management software stands as a critical application that identifies, captures, evaluates, retrieves and shares information across companies, which significantly affects operational efficiency and customer satisfaction.

APAC is expected to account for 40% of the global market growth during the forecast period. Countries such as USA and Canada stand out as technologically advanced nations and leaders in the widespread use of knowledge management platforms worldwide. The regional market is expected to expand further due to the growing recognition among companies regarding the importance of knowledge management software as an essential platform to facilitate business communication with customers.

Technavio highlights the new trends in the Knowledge Management Software Market:

• Personal learning weight: The paradigm shift from traditional learning methods to personalized, interactive learning approaches is driving market growth. This trend is supported by technological advances that enable customized educational experiences for students, parents and teachers, thereby increasing improved learning outcomes.
• AI Integration: The integration of artificial intelligence (AI) with knowledge management software is becoming widespread, offering advanced functionalities that facilitate fast, efficient and accurate decision-making processes. Machine Learning algorithms are being used to improve the delivery of knowledge, promoting smarter and more responsive systems.
• Operational challenges: Challenges associated with the operational implementation of knowledge management software pose obstacles to market growth. These challenges include customization requirements, version variances, difficulties with personalization, and the need for ongoing operator training, all of which impact seamless deployment across organizations.

Prominent companies are actively immersing themselves in the trend

Atlassian Corp. PLC: Atlassian’s Confluence offers a robust knowledge management software solution that helps teams organize and access information efficiently. eXo Platform SAS: eXo Platform’s eGain knowledge AI delivers innovative solutions that meet customer inquiries and decision-making processes in organizations. SAP SE: SAP’s knowledge management software solutions address industry-specific requirements, increasing operational efficiency across different domains. Collectively, these companies significantly impact the knowledge management software market by providing tailored solutions, thereby enhancing operational efficiency, enhancing customer experiences and addressing industry-specific challenges, further contributing to market growth and development.

This knowledge management software market report broadly covers market segmentation by implementation (on-premises and cloud-based), end-user (large enterprises and SMEs), and geography (North America, APAC, Europe, South America, and Middle East & Africa). Buy the full report here. Buy the full report here

According to Technavio’s findings, the market for knowledge management software is expected to grow significantly, driven by trends such as the focus on personalized learning, AI integration and the challenges associated with operational implementation. With an expected CAGR of 14.41% from 2023 to 2028 and an estimated increase of USD 25.30 billion, e.g. Atlassian Corp. Plc, eXo Platform SAS and SAP SE paving the way for market development, innovation and adaptation within an ever-evolving landscape of knowledge management software.

Coverage

Related reports:

Market for quality management software

Market for port management software

Covered companies

• BMC Software Inc.
• eGain Corp.
• Freshworks Inc.
• HCL Technologies Ltd.
• Igloo Inc.
• International Business Machines Corp.
• MangoApps Inc.
• Oracle Corp.
• Prof
• SAP SE
• SkyPrep Inc.
• Tata Consultancy Services Ltd.
• Upland Software Inc.
• Zendesk Inc.
• Zoho Corp. Pvt. Ltd.
• Bitrix Inc.
• Notion Labs Inc.

Regions covered

• North America
• APAC
• Europe
• South America
• Middle East and Africa

Topics covered

• Software for knowledge management
• Personal learning
• Artificial intelligence
• Software
• Companies

About Technavio

Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting covering 800 technologies spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive coverage, comprehensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio