Innovation Management Market Synopsis

Innovation Management Market Size Was Valued at USD 2.1 Billion in 2023, and is Projected to Reach USD 8.2 Billion by 2032, Growing at a CAGR of 16.4% From 2024-2032.

Innovation management is the common term used to refer to an innovation that is implemented in a business organization to define a company’s innovation process from the conception to implementation and operationalization. Speaking of operation, there are such steps as formulating options, using the creative approach and processes and methods. It contributes in the development of innovative business strategies as well as new products, services and human skills. Such management efforts normally employ a disruptive change method in the process of transforming companies.

Because of innovation management, there can be communication between managers and executives or clients with perfect awareness of the processes and objectives. One of these change drivers is the evolving working climate in global organisations where the need to support innovation has been noted as crucial. Thus, there are such factors as the limitations of regulation, increased urbanization, and digitization, IoT usage, and the willingness to apply new technologies to enhance workplace sustainability to have a positive impact on the innovation management industry.

  • Due to the increasing level of competition, companies are seeking sustainable competitive advantages through innovation. Innovation is the process that helps companies promoting them as different from their competitors and attracting a new client group. The main segment of the industry is moving towards innovations since the emphasis is made on the transition of company strategy from present business to future opportunities.
  • The rising innovation of enhanced structures has resulted in the production of large amounts of data which require enhanced information search and quick analysis. Organizational structures for establishing innovation have increased as a direct correlate with advancement in technology. Organizations rely on ideas coming from various innovations’ management solutions to make crucial decisions. It used to be possible to collect ideas with questionnaires, feedback boxes, or comments; however, a wide study showed that using innovation management systems is rather helpful as new ideas improve the productivity of a business, enhance its profitability, and can be quite useful in making better strategic choices. Higher demands for studying pertinent concepts in multiple sources have created the necessity to select solutions from the raw data to make crucial decisions.

Innovation Management Market Trend Analysis

Rising Need for Crowdsourcing Invention

  • Open innovation is the sharing of knowledge and technology between and among stakeholders such as partners, employees of enterprises, the public, and consumers with an aim of enhancing and enhancing products, solutions, and business processes to enhance the users’ experience and overall revenue. Openness in the management of innovations resembles crowdsourcing. It ranges from suggesting adjustments to the actual product and services offered, to the opening of the business model offered itself. They create a good relationship between the stakeholders such as the companies, the employees, and customers. Enterprise management teams can predict new and innovative ideas on how to boost the sales and/or improve the overall customer experience through idea generation.
  • Enhancing brand standardization would also help the business work on its efficiency to compete with the other firms in the market. Thus, crowdsourcing concepts may be applied by firms to find ways to improve key performance indicators or used by firms to search for new business opportunities. Business management all across the globe has seen the potential of crowdsourcing and have started approaching the employees, partners and customers as potential innovators. Because of high market rivalry, organizations are struggling for the first-mover advantage effect; therefore, companies have to enhance the demand for open innovation and crowdsourcing. Therefore, the advanced innovation management market is likely to increase on the global level.

Product innovations and advancements

  • As the level of competition rises, firms enjoy competitive advantage through innovation. Innovation is used by firms in order to give a competitive edge on rivals and to penetrate a new market. For this reason, most of the industry’s activities are already redirected from the current operations to future plans because of the change in the business model. Likewise, when a given need for innovation rises in a certain business, it organizes various kinds of brainstorming meetings and, thus, creates a wide range of ideas. This leads to proper management of ideas/innovations on a common platform, which in turn, forms a suitable market for innovation management.

Innovation Management Market Segment Analysis:

Innovation Management Market Segmented based on Components, Function, Services, Deployment, Organization Size, Vertical.

By function, Business Processes segment is expected to dominate the market during the forecast period

  • The Business Process function is expected to hold a larger market share of the demand for innovation management during the forecast period. This idea platform promotes the opening of business models and optimal collaboration with employees, partners, and other customers. Expansion of ideas using the IMS for corporate exercise would enhance total business outputs, which would enable organizations to boost their gross revenues. An innovation management solution turns all the concepts created and processed as a response to consumers’ needs into products. Moderators can be in a position to guess as to which product ideas would be most profitable for business given the ideas that are produced. For this reason, the factors outlined above act as the growth driving factors of the market.

By Deployment, Cloud segment held the largest share in 2023

  • The Cloud deployment mode is likely to gain momentum in the impending years over the forecast period. Innovation management in the cloud is important because it supports varying types of device and offers a solid solution for addressing ideas from workers, customers, and partners. While cloud deployment eases the integration of innovation management solutions, it poses the following main challenges: compliance, stability and security, performance, predictability, transition sophistication, content management, and, above all, RoI promises.

Innovation Management Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

  • The global market for innovation management has seen north America assume the largest market pull. Concerning the adoption of innovation management systems across industries such as healthcare, IT, aerospace, manufacturing, and others, North America has been relatively quite liberal and open to competition. Thus, it is the region that takes innovation management strategies most quickly. It has been rather appreciable in embracing new technology advancements such as blurring the existing mobile, cloud, and AI technologies with the traditional innovation management tools.
  • In addition, the increasing demand to control larger operational productivity and corporate processes at a low cost is driving R & D in this place, creating a new opportunity for innovation management software. The rigid governmental guidelines and policies formulated for the sectors also factor the market growth. The penalties of non- compliance include fines and other severe penalties. Another significant factor is the need to enhance the operational productivity to make organizations store only the recent and necessary data in the secondary storage while archiving previous or unessential data.

Active Key Players in the Innovation Management Market

  • Accenture
  • Sopheon
  • Qmarkets
  • Brightidea
  • Planbox
  • IdeaScale
  • Innosabi
  • Exago
  • KPMG
  • InnovationCast
  • Nosco
  • InnoCentive
  • Deloitte
  • BCG
  • Inno360
  • ICONICS
  • Induct
  • Yambla
  • LoopedIn
  • Other Key Players

Key Industry Developments in the Innovation Management Market:

  • May 2022 - They launched the Advisory Salesforce Apprentice Program by KPMG (ASAP). It is meant to invest in great talent from different pages, provide the participants with good client leads, and create a dynamic environment where everyone can grow.
  • January 2022 - ICONICS chosen by KPMG to establish operating global innovation management platform for enhancing creativity as well as co-creation & co-investment opportunities with clients and partners, startups, etc. KPMG Illuminate is to serve as the firm’s enhanced innovation management solution, integrated with the help of ICONICS. They will include such areas as Artificial Intelligence Market Intelligence and Signals, Crowdsourcing & Idea-generation Management, Incubator Management, and Portfolio Management, further to KPMG Innovation Factory.

Global Innovation Management Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2024:

USD 2.4 Bn.

Forecast Period 2024-32 CAGR:

16.4 %

Market Size in 2032:

USD 8.2 Bn.

Segments Covered:

By Components

  • Solution
  • Services

By Function

  • Product Development
  • Business Processes

By Services

  • Consulting
  • System Integration
  • Training, Support, and Maintenance

By Deployment Mode

  • On-premises
  • Cloud

By Organization Size

  • Large Enterprises
  • Small and Medium-Sized Enterprises (SMEs)

By Vertical

  • BFSI
  • Retail & E-commerce
  • Transportation & Logistics
  • Manufacturing
  • Healthcare & Pharmaceuticals
  • IT & Telecommunications
  • Others (Manufacturing, Energy & Utilities, Media & Entertainment, and Education)

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing automation and security

Key Market Restraints:

  • Security risks restrict the market growth

Key Opportunities:

  • Adoption of cloud technology

Companies Covered in the report:

  • Accenture, Sopheon, Qmarkets, Brightidea, Planbox, IdeaScale, Innosabi, Exago, KPMG, InnovationCast, Nosco, InnoCentive, Deloitte, BCG, Inno360, ICONICS, Induct, Yambla, LoopedIn, and Other Major Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Innovation Management Market by Components
 4.1 Innovation Management Market Snapshot and Growth Engine
 4.2 Innovation Management Market Overview
 4.3 Solution
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Solution: Geographic Segmentation Analysis
 4.4 Services
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Services: Geographic Segmentation Analysis

Chapter 5: Innovation Management Market by Function
 5.1 Innovation Management Market Snapshot and Growth Engine
 5.2 Innovation Management Market Overview
 5.3 Product Development
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Product Development: Geographic Segmentation Analysis
 5.4 Business Processes
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Business Processes: Geographic Segmentation Analysis

Chapter 6: Innovation Management Market by Services
 6.1 Innovation Management Market Snapshot and Growth Engine
 6.2 Innovation Management Market Overview
 6.3 Consulting
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Consulting: Geographic Segmentation Analysis
 6.4 System Integration
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 System Integration: Geographic Segmentation Analysis
 6.5 Training
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Training: Geographic Segmentation Analysis
 6.6 Support & Maintenance
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Support & Maintenance: Geographic Segmentation Analysis

Chapter 7: Innovation Management Market by Deployment Mode
 7.1 Innovation Management Market Snapshot and Growth Engine
 7.2 Innovation Management Market Overview
 7.3 On-premises
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 On-premises: Geographic Segmentation Analysis
 7.4 Cloud
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Cloud: Geographic Segmentation Analysis

Chapter 8: Innovation Management Market by Organization Size
 8.1 Innovation Management Market Snapshot and Growth Engine
 8.2 Innovation Management Market Overview
 8.3 Large Enterprises
  8.3.1 Introduction and Market Overview
  8.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  8.3.3 Key Market Trends, Growth Factors and Opportunities
  8.3.4 Large Enterprises: Geographic Segmentation Analysis
 8.4 Small & Medium-Sized Enterprises (SMEs)
  8.4.1 Introduction and Market Overview
  8.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  8.4.3 Key Market Trends, Growth Factors and Opportunities
  8.4.4 Small & Medium-Sized Enterprises (SMEs): Geographic Segmentation Analysis

Chapter 9: Innovation Management Market by Vertical
 9.1 Innovation Management Market Snapshot and Growth Engine
 9.2 Innovation Management Market Overview
 9.3 BFSI
  9.3.1 Introduction and Market Overview
  9.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.3.3 Key Market Trends, Growth Factors and Opportunities
  9.3.4 BFSI: Geographic Segmentation Analysis
 9.4 Retail & E-commerce
  9.4.1 Introduction and Market Overview
  9.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.4.3 Key Market Trends, Growth Factors and Opportunities
  9.4.4 Retail & E-commerce: Geographic Segmentation Analysis
 9.5 Transportation & Logistics
  9.5.1 Introduction and Market Overview
  9.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.5.3 Key Market Trends, Growth Factors and Opportunities
  9.5.4 Transportation & Logistics: Geographic Segmentation Analysis
 9.6 Manufacturing
  9.6.1 Introduction and Market Overview
  9.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.6.3 Key Market Trends, Growth Factors and Opportunities
  9.6.4 Manufacturing: Geographic Segmentation Analysis
 9.7 Healthcare & Pharmaceuticals
  9.7.1 Introduction and Market Overview
  9.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.7.3 Key Market Trends, Growth Factors and Opportunities
  9.7.4 Healthcare & Pharmaceuticals: Geographic Segmentation Analysis
 9.8 IT & Telecommunications
  9.8.1 Introduction and Market Overview
  9.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.8.3 Key Market Trends, Growth Factors and Opportunities
  9.8.4 IT & Telecommunications: Geographic Segmentation Analysis
 9.9 Others (Manufacturing
  9.9.1 Introduction and Market Overview
  9.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.9.3 Key Market Trends, Growth Factors and Opportunities
  9.9.4 Others (Manufacturing: Geographic Segmentation Analysis
 9.10 Energy & Utilities
  9.10.1 Introduction and Market Overview
  9.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.10.3 Key Market Trends, Growth Factors and Opportunities
  9.10.4 Energy & Utilities: Geographic Segmentation Analysis
 9.11 Media & Entertainment
  9.11.1 Introduction and Market Overview
  9.11.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.11.3 Key Market Trends, Growth Factors and Opportunities
  9.11.4 Media & Entertainment: Geographic Segmentation Analysis
 9.12 Education)
  9.12.1 Introduction and Market Overview
  9.12.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  9.12.3 Key Market Trends, Growth Factors and Opportunities
  9.12.4 Education): Geographic Segmentation Analysis

Chapter 10: Company Profiles and Competitive Analysis
 10.1 Competitive Landscape
  10.1.1 Competitive Benchmarking
  10.1.2 Innovation Management Market Share by Manufacturer (2023)
  10.1.3 Industry BCG Matrix
  10.1.4 Heat Map Analysis
  10.1.5 Mergers and Acquisitions
  
 10.2 ACCENTURE
  10.2.1 Company Overview
  10.2.2 Key Executives
  10.2.3 Company Snapshot
  10.2.4 Role of the Company in the Market
  10.2.5 Sustainability and Social Responsibility
  10.2.6 Operating Business Segments
  10.2.7 Product Portfolio
  10.2.8 Business Performance
  10.2.9 Key Strategic Moves and Recent Developments
  10.2.10 SWOT Analysis
 10.3 SOPHEON
 10.4 QMARKETS
 10.5 BRIGHTIDEA
 10.6 PLANBOX
 10.7 IDEASCALE
 10.8 INNOSABI
 10.9 EXAGO
 10.10 KPMG
 10.11 INNOVATIONCAST
 10.12 NOSCO
 10.13 INNOCENTIVE
 10.14 DELOITTE
 10.15 BCG
 10.16 INNO360
 10.17 ICONICS
 10.18 INDUCT
 10.19 YAMBLA
 10.20 LOOPEDIN
 10.21 OTHER ACTIVE PLAYERS

Chapter 11: Global Innovation Management Market By Region
 11.1 Overview
11.2. North America Innovation Management Market
  11.2.1 Key Market Trends, Growth Factors and Opportunities
  11.2.2 Top Key Companies
  11.2.3 Historic and Forecasted Market Size by Segments
  11.2.4 Historic and Forecasted Market Size By Components
   11.2.4.1 Solution
   11.2.4.2 Services
  11.2.5 Historic and Forecasted Market Size By Function
   11.2.5.1 Product Development
   11.2.5.2 Business Processes
  11.2.6 Historic and Forecasted Market Size By Services
   11.2.6.1 Consulting
   11.2.6.2 System Integration
   11.2.6.3 Training
   11.2.6.4 Support & Maintenance
  11.2.7 Historic and Forecasted Market Size By Deployment Mode
   11.2.7.1 On-premises
   11.2.7.2 Cloud
  11.2.8 Historic and Forecasted Market Size By Organization Size
   11.2.8.1 Large Enterprises
   11.2.8.2 Small & Medium-Sized Enterprises (SMEs)
  11.2.9 Historic and Forecasted Market Size By Vertical
   11.2.9.1 BFSI
   11.2.9.2 Retail & E-commerce
   11.2.9.3 Transportation & Logistics
   11.2.9.4 Manufacturing
   11.2.9.5 Healthcare & Pharmaceuticals
   11.2.9.6 IT & Telecommunications
   11.2.9.7 Others (Manufacturing
   11.2.9.8 Energy & Utilities
   11.2.9.9 Media & Entertainment
   11.2.9.10 Education)
  11.2.10 Historic and Forecast Market Size by Country
   11.2.10.1 US
   11.2.10.2 Canada
   11.2.10.3 Mexico
11.3. Eastern Europe Innovation Management Market
  11.3.1 Key Market Trends, Growth Factors and Opportunities
  11.3.2 Top Key Companies
  11.3.3 Historic and Forecasted Market Size by Segments
  11.3.4 Historic and Forecasted Market Size By Components
   11.3.4.1 Solution
   11.3.4.2 Services
  11.3.5 Historic and Forecasted Market Size By Function
   11.3.5.1 Product Development
   11.3.5.2 Business Processes
  11.3.6 Historic and Forecasted Market Size By Services
   11.3.6.1 Consulting
   11.3.6.2 System Integration
   11.3.6.3 Training
   11.3.6.4 Support & Maintenance
  11.3.7 Historic and Forecasted Market Size By Deployment Mode
   11.3.7.1 On-premises
   11.3.7.2 Cloud
  11.3.8 Historic and Forecasted Market Size By Organization Size
   11.3.8.1 Large Enterprises
   11.3.8.2 Small & Medium-Sized Enterprises (SMEs)
  11.3.9 Historic and Forecasted Market Size By Vertical
   11.3.9.1 BFSI
   11.3.9.2 Retail & E-commerce
   11.3.9.3 Transportation & Logistics
   11.3.9.4 Manufacturing
   11.3.9.5 Healthcare & Pharmaceuticals
   11.3.9.6 IT & Telecommunications
   11.3.9.7 Others (Manufacturing
   11.3.9.8 Energy & Utilities
   11.3.9.9 Media & Entertainment
   11.3.9.10 Education)
  11.3.10 Historic and Forecast Market Size by Country
   11.3.10.1 Bulgaria
   11.3.10.2 The Czech Republic
   11.3.10.3 Hungary
   11.3.10.4 Poland
   11.3.10.5 Romania
   11.3.10.6 Rest of Eastern Europe
11.4. Western Europe Innovation Management Market
  11.4.1 Key Market Trends, Growth Factors and Opportunities
  11.4.2 Top Key Companies
  11.4.3 Historic and Forecasted Market Size by Segments
  11.4.4 Historic and Forecasted Market Size By Components
   11.4.4.1 Solution
   11.4.4.2 Services
  11.4.5 Historic and Forecasted Market Size By Function
   11.4.5.1 Product Development
   11.4.5.2 Business Processes
  11.4.6 Historic and Forecasted Market Size By Services
   11.4.6.1 Consulting
   11.4.6.2 System Integration
   11.4.6.3 Training
   11.4.6.4 Support & Maintenance
  11.4.7 Historic and Forecasted Market Size By Deployment Mode
   11.4.7.1 On-premises
   11.4.7.2 Cloud
  11.4.8 Historic and Forecasted Market Size By Organization Size
   11.4.8.1 Large Enterprises
   11.4.8.2 Small & Medium-Sized Enterprises (SMEs)
  11.4.9 Historic and Forecasted Market Size By Vertical
   11.4.9.1 BFSI
   11.4.9.2 Retail & E-commerce
   11.4.9.3 Transportation & Logistics
   11.4.9.4 Manufacturing
   11.4.9.5 Healthcare & Pharmaceuticals
   11.4.9.6 IT & Telecommunications
   11.4.9.7 Others (Manufacturing
   11.4.9.8 Energy & Utilities
   11.4.9.9 Media & Entertainment
   11.4.9.10 Education)
  11.4.10 Historic and Forecast Market Size by Country
   11.4.10.1 Germany
   11.4.10.2 UK
   11.4.10.3 France
   11.4.10.4 Netherlands
   11.4.10.5 Italy
   11.4.10.6 Russia
   11.4.10.7 Spain
   11.4.10.8 Rest of Western Europe
11.5. Asia Pacific Innovation Management Market
  11.5.1 Key Market Trends, Growth Factors and Opportunities
  11.5.2 Top Key Companies
  11.5.3 Historic and Forecasted Market Size by Segments
  11.5.4 Historic and Forecasted Market Size By Components
   11.5.4.1 Solution
   11.5.4.2 Services
  11.5.5 Historic and Forecasted Market Size By Function
   11.5.5.1 Product Development
   11.5.5.2 Business Processes
  11.5.6 Historic and Forecasted Market Size By Services
   11.5.6.1 Consulting
   11.5.6.2 System Integration
   11.5.6.3 Training
   11.5.6.4 Support & Maintenance
  11.5.7 Historic and Forecasted Market Size By Deployment Mode
   11.5.7.1 On-premises
   11.5.7.2 Cloud
  11.5.8 Historic and Forecasted Market Size By Organization Size
   11.5.8.1 Large Enterprises
   11.5.8.2 Small & Medium-Sized Enterprises (SMEs)
  11.5.9 Historic and Forecasted Market Size By Vertical
   11.5.9.1 BFSI
   11.5.9.2 Retail & E-commerce
   11.5.9.3 Transportation & Logistics
   11.5.9.4 Manufacturing
   11.5.9.5 Healthcare & Pharmaceuticals
   11.5.9.6 IT & Telecommunications
   11.5.9.7 Others (Manufacturing
   11.5.9.8 Energy & Utilities
   11.5.9.9 Media & Entertainment
   11.5.9.10 Education)
  11.5.10 Historic and Forecast Market Size by Country
   11.5.10.1 China
   11.5.10.2 India
   11.5.10.3 Japan
   11.5.10.4 South Korea
   11.5.10.5 Malaysia
   11.5.10.6 Thailand
   11.5.10.7 Vietnam
   11.5.10.8 The Philippines
   11.5.10.9 Australia
   11.5.10.10 New Zealand
   11.5.10.11 Rest of APAC
11.6. Middle East & Africa Innovation Management Market
  11.6.1 Key Market Trends, Growth Factors and Opportunities
  11.6.2 Top Key Companies
  11.6.3 Historic and Forecasted Market Size by Segments
  11.6.4 Historic and Forecasted Market Size By Components
   11.6.4.1 Solution
   11.6.4.2 Services
  11.6.5 Historic and Forecasted Market Size By Function
   11.6.5.1 Product Development
   11.6.5.2 Business Processes
  11.6.6 Historic and Forecasted Market Size By Services
   11.6.6.1 Consulting
   11.6.6.2 System Integration
   11.6.6.3 Training
   11.6.6.4 Support & Maintenance
  11.6.7 Historic and Forecasted Market Size By Deployment Mode
   11.6.7.1 On-premises
   11.6.7.2 Cloud
  11.6.8 Historic and Forecasted Market Size By Organization Size
   11.6.8.1 Large Enterprises
   11.6.8.2 Small & Medium-Sized Enterprises (SMEs)
  11.6.9 Historic and Forecasted Market Size By Vertical
   11.6.9.1 BFSI
   11.6.9.2 Retail & E-commerce
   11.6.9.3 Transportation & Logistics
   11.6.9.4 Manufacturing
   11.6.9.5 Healthcare & Pharmaceuticals
   11.6.9.6 IT & Telecommunications
   11.6.9.7 Others (Manufacturing
   11.6.9.8 Energy & Utilities
   11.6.9.9 Media & Entertainment
   11.6.9.10 Education)
  11.6.10 Historic and Forecast Market Size by Country
   11.6.10.1 Turkey
   11.6.10.2 Bahrain
   11.6.10.3 Kuwait
   11.6.10.4 Saudi Arabia
   11.6.10.5 Qatar
   11.6.10.6 UAE
   11.6.10.7 Israel
   11.6.10.8 South Africa
11.7. South America Innovation Management Market
  11.7.1 Key Market Trends, Growth Factors and Opportunities
  11.7.2 Top Key Companies
  11.7.3 Historic and Forecasted Market Size by Segments
  11.7.4 Historic and Forecasted Market Size By Components
   11.7.4.1 Solution
   11.7.4.2 Services
  11.7.5 Historic and Forecasted Market Size By Function
   11.7.5.1 Product Development
   11.7.5.2 Business Processes
  11.7.6 Historic and Forecasted Market Size By Services
   11.7.6.1 Consulting
   11.7.6.2 System Integration
   11.7.6.3 Training
   11.7.6.4 Support & Maintenance
  11.7.7 Historic and Forecasted Market Size By Deployment Mode
   11.7.7.1 On-premises
   11.7.7.2 Cloud
  11.7.8 Historic and Forecasted Market Size By Organization Size
   11.7.8.1 Large Enterprises
   11.7.8.2 Small & Medium-Sized Enterprises (SMEs)
  11.7.9 Historic and Forecasted Market Size By Vertical
   11.7.9.1 BFSI
   11.7.9.2 Retail & E-commerce
   11.7.9.3 Transportation & Logistics
   11.7.9.4 Manufacturing
   11.7.9.5 Healthcare & Pharmaceuticals
   11.7.9.6 IT & Telecommunications
   11.7.9.7 Others (Manufacturing
   11.7.9.8 Energy & Utilities
   11.7.9.9 Media & Entertainment
   11.7.9.10 Education)
  11.7.10 Historic and Forecast Market Size by Country
   11.7.10.1 Brazil
   11.7.10.2 Argentina
   11.7.10.3 Rest of SA

Chapter 12 Analyst Viewpoint and Conclusion
12.1 Recommendations and Concluding Analysis
12.2 Potential Market Strategies

Chapter 13 Research Methodology
13.1 Research Process
13.2 Primary Research
13.3 Secondary Research
 

Global Innovation Management Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2024:

USD 2.4 Bn.

Forecast Period 2024-32 CAGR:

16.4 %

Market Size in 2032:

USD 8.2 Bn.

Segments Covered:

By Components

  • Solution
  • Services

By Function

  • Product Development
  • Business Processes

By Services

  • Consulting
  • System Integration
  • Training, Support, and Maintenance

By Deployment Mode

  • On-premises
  • Cloud

By Organization Size

  • Large Enterprises
  • Small and Medium-Sized Enterprises (SMEs)

By Vertical

  • BFSI
  • Retail & E-commerce
  • Transportation & Logistics
  • Manufacturing
  • Healthcare & Pharmaceuticals
  • IT & Telecommunications
  • Others (Manufacturing, Energy & Utilities, Media & Entertainment, and Education)

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing automation and security

Key Market Restraints:

  • Security risks restrict the market growth

Key Opportunities:

  • Adoption of cloud technology

Companies Covered in the report:

  • Accenture, Sopheon, Qmarkets, Brightidea, Planbox, IdeaScale, Innosabi, Exago, KPMG, InnovationCast, Nosco, InnoCentive, Deloitte, BCG, Inno360, ICONICS, Induct, Yambla, LoopedIn, and Other Major Players.
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Frequently Asked Questions :

What would be the forecast period in the Innovation Management Market research report?

The forecast period in the Innovation Management Market research report is 2024-2032.

Who are the key players in the Innovation Management Market?

Accenture, Sopheon, Qmarkets, Brightidea, Planbox, IdeaScale, Innosabi, Exago, KPMG, InnovationCast, Nosco, InnoCentive, Deloitte, BCG, Inno360, ICONICS, Induct, Yambla, LoopedIn, and Other Major Players.

What are the segments of the Innovation Management Market?

The Innovation Management Market is segmented into components, function, services, deployment, organization size, vertical, and region. By components, the market is categorized into solution and services. By function, the market is categorized into product development, and business processes. By deployment, the market is categorized into on-premises, and cloud. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Innovation Management Market?

Innovation management is the overall co-ordination of the innovational activities in an organization from the initial stage, that is the idea level to the final stage that is the successful implementation level. Strategy development, coming up with choices, employing a contemporary modus operandi and main operations and procedures are part of it also. Technology assists in formulation and development of new business paradigms, where new technologies also help in formulation of new inventiveness in products and services as well as new skills.

How big is the Innovation Management Market?

Innovation Management Market Size Was Valued at USD 2.4 Billion in 2023, and is Projected to Reach USD 8.2 Billion by 2032, Growing at a CAGR of 16.4% From 2024-2032.