Sales Value of Global Knowledge Management Software Market to Reach US$58.81 Billion by 2028 | Top 10 Players Hold Over 53% Market Share – GlobeNewswire | Jewelry Dukan

WESTFORD, Sept. 22, 2022 (GLOBE NEWSWIRE) — As organizations face increasing challenges in managing their ever-expanding knowledge base, they are turning to knowledge management software (KMS) as a solution. KMS tools help organizations capture, organize, and share knowledge in a systematic way so employees can access it faster and more easily. This increasing demand for Knowledge Management Software Market has led to the development of many different KMS solutions, each with their own strengths and weaknesses.

According to SkyQuest, most companies in the global knowledge management software market choose KM software to streamline their processes, search for specific information quickly, and collaborate more easily with colleagues. By consolidating all data into a single system, companies can significantly improve their efficiency and performance.

Businesses today are beginning to realize how important it is to leverage their knowledge base to be competitive in today’s economy. For example, with a well-organized and accessible knowledge base, a company can easily find new and innovative ways to serve its customers. In addition, a well-managed knowledge base can also provide valuable insights into a company’s operations that can aid in making strategic decisions.

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Given the importance of the knowledge management software market in today’s business environment, it’s no wonder that several major software companies now offer KM products as part of their overall product line.

Some of the most popular KMS solutions include those from Adobe Systems Incorporated (Adobe Acrobat), Intuit Corporation (Quicken), and Oracle Corporation (Oracle Database). These solutions offer users a wide range of functions, e.g. For example, the ability to capture and organize handwritten notes, create cascading workflow structures, manage multiple versions of documents, and export information in various formats. However, each solution has its own limitations. Adobe Acrobat is best for creating PDF files, Microsoft Word for formatting documents into standard formats, Quick for tracking financial data, and Oracle Database for storing large amounts of information.

With the increasing demand for knowledge management software, decision makers need to be aware of the latest trends and developments in the field. SkyQuest’s analysis of the Knowledge Management Software market provides insights into the main drivers, restraints and opportunities in this market. The report also includes a detailed competitive landscape of the leading players in this market.

So, what is actually driving the growth of the knowledge management software market?

The growing demand for KM software is likely due to several factors. First, companies are increasingly focusing on making their operations more efficient and effective. By using KM software to organize and manage their data, they can make better use of resources and increase productivity.

Second, customers are increasingly demanding solutions that give them easier access to information. By consolidating all aspects of their business into a single system, companies in the knowledge management software market can improve customer service and support, as well as increase the efficiency of their sales process.

Finally, the increasing use of mobile devices has created new opportunities for companies to use KM software to manage data across multiple platforms. By consolidating data from disparate sources into a single system, organizations can improve their overall operations and productivity.

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Top 10 players hold over 53% market share

Large companies in the knowledge management software market have relied on software to manage their knowledge for many years, but only recently has the knowledge management software market been dominated by a handful of companies. KMS is a suite of software programs used by large organizations to store and manage the ever-growing body of knowledge within their organizations.

As the global knowledge management software market continues to face over-supply of products, a few major players are dominating the knowledge management software market, reports The Information. IBM Corporation, Oracle, ZOHO, SAP SE and Microsoft Corporation are the top five players in the market, together holding about a third of the market share in 2021. While these companies may have a stronghold in the marketplace, smaller companies are still able to compete by manufacturing innovative products.

There is definitely a consolidation, said Vishal Wankhede, an analyst at SkyQuest. “The larger organizations have a lot of money to invest in research and development and they are able to buy smaller companies or develop their own product.”

Smaller companies in the knowledge management software market have been able to make some advances by addressing specialized needs within the market. For example, IBM releases cognitive computing software that helps users learn new information more efficiently. Other small businesses focus on customer service or facilitate collaboration between people with different work styles.

Some of the world’s largest companies, including GE, Maersk, and PepsiCo, now use KMS to manage their vast knowledge bases. KMS helps these companies keep track of what is known about their products, how they are used, and who is using them. This information is then used to improve the products and services they offer to their customers.

However, KMS is not just for large companies. Many small businesses also use KMS to keep their knowledge organized and accessible. This is especially important as companies grow and their information collections grow. With KMS, small businesses can afford to invest in a system that meets the growing needs of their employees and customers.

SkyQuest has released its latest report on the Knowledge Management Software Market. The report provides an in-depth analysis of the market landscape, key players, market share analysis, price analysis, company SWOT analysis, and growth strategies. This allows decision makers to identify opportunities and challenges.

With the help of this report, decision makers can better understand the Knowledge Management Software market and make informed decisions on their investment strategies.

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Growing demand for AI-powered knowledge management software

As companies become more competitive and data-driven, the demand for AI-powered knowledge management software increases. These systems enable companies to manage large datasets more efficiently and effectively, automating repetitive tasks and helping employees find the information they need quickly. Additionally, these systems can also be used to help businesses improve customer service and reduce customer churn rates.

Today, customers are increasingly asking companies to provide them with access to big data in a convenient and helpful way. This has led to the development of AI-powered knowledge management systems that enable this access. By automating search processes and creating dashboards that organize data in a visually appealing way, these systems can help employees find the information they need quickly. In addition, this technology can be used to identify customer trends and make better decisions about marketing activities. Companies that want to stay ahead of the competition should consider investing in AI-powered knowledge management software. This technology has a lot to offer companies of all sizes and will continue to grow in popularity in the future.

Major Players in the Global Knowledge Management Software Market

  • Freshworks Inc. (USA)
  • Atlassian Corporation Plc (Australia)
  • Exo Platform (France)
  • Bitrix24 Inc. (USA)
  • ProProfs (USA)
  • IBM Corporation (USA)
  • SAP SE (Germany)
  • Zoho Corporation Pvt Ltd. (India)
  • Oracle Corporation (US)
  • Capgemini SE (France)
  • SkyPrep Inc. (Canada)
  • Lucidea (USA)
  • Egain Corporation (USA)
  • Upland Software Inc. (USA)
  • Zendesk Inc. (USA)

Related reports in SkyQuest’s library:

Global Computer Vision Market

Global Education Technology Market

Global Mobile Security Market

Global Sales Intelligence Market

Global Fraud Detection and Prevention Market

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