Global Creativity Tool Product Market, By Value (Market Share and Forecast); By Type (Presentation maker, File Sharing Service, Mind Mapping Tool, Image Manager, and Others); By Application (Individual, Commercial); By Enterprise Size (Small, Medium, Large Enterprise); By Region (North America, Europe, Asia Pacific, and Rest of the World); Trend Analysis, Competitive Market Share & Forecast, 2019-2026.

Published:
October 2020
Report Code:
BWC20181
Available Format:
PDF PDF Icon
Pages:
178

global creativity tool product market bwc20181

Global Creative Productivity Tool Market size- Industry Trends & Forecast Report 2026.

 

The global creative productivity tool market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 7.3 billion in 2019. The market is further expected to touch USD 15.0 billion by 2026, growing at a CAGR of 11.8% during 2020-2026 (forecast period). The creative productivity tool market is likely to grow in the forecast timeframe due to due to a huge demand for the improvement of the creative process and efficiency. Additionally, the adoption of technological advancements is also supporting the creative productivity tool market growth YoY. 

 


 

Global Creative Productivity Tool Market Overview:

 

Creative tool products are a method of getting many ideas from a group of people in a short time. It can be used for generating many ideas or solutions for well-defined strategic or operational problems, such as for engineering design processes. Creativity is considered as the application of various computer technologies to study, stimulate, emulate, and enhance human creativity. Computational creativity involves research and experiments intending to explore innovative ideas and thought processes in fields like literature, art, cuisine, architecture, music, and engineering. Artificial intelligence (AI) is often applied by computational creativity to generate things that were considered impossible for computers such as written works of fiction, sculptures, and paintings.

 

Creative Productivity Tool Market Forecast and Trends

 

Growth Drivers 

 

Increasing demand for the improvement of the creative process and efficiency 

Machine learning (ML) and deep learning technologies are expected to drive increasing demand for the development of creative processes and creative professionals' productivity. To support creative professionals with various forms of creativity, such as music composition, culinary arts, illustration, videography, fashion design, and website design, AI-based computational creativity uses ML algorithms. Most businesses concentrate on incorporating AI technology into their products and developing their AI, ML, and deep learning capabilities that are incorporated into their cloud services, including creative intelligence, experience intelligence, and content intelligence.

 

Adoption of the technological advancements 

Advanced adoption of the country's technical advances. In terms of the adoption of cloud computing services or AI and Internet of Things (IoT) adoption, the US is the most advanced market due to a few reasons, as many companies consist of technological expertise along with advanced IT infrastructure availability. Also, important players such as Microsoft (Office 365), Google, Adobe, etc. operating in creative productivity tool software are based in this county. In addition to raising the valuation of the US market, there is also a cut-throat rivalry in the country. Also, the steady economic position in the US makes it possible to capitalize heavily on creative solutions and innovations

 

Restraint

 

File Transfer and Storage Risk

Cloud adoption continues to grow as more businesses discover the cost-saving potential and convenience that comes with it. However, misconfigured servers are still a major risk for companies using infrastructure and platform as a service. Default accounts and characterize misconfigured servers’ passwords, unrestricted outbound access, enabled debugging functions, and more. This is hindering the growth of the creative productivity tool market. Ransomware attacks increased by 105% in the first quarter of 2019, according to Beazley’s tally of insurance claims and data analytics.

 

Recent Development

 

·         According to statistics of Q1 2020, the use of collaboration tools surged by 70%. Due to this pandemic, there has been a surge in the use of business productivity software, as this is becoming an integral part of organizations for functioning and collaborative working. The business productivity software market is estimated to grow by approximately 15% Y-o-Y from 2019-2020 and would be in demand in Q3-Q4 2020 as well as in 2021. 

 

·         The healthcare services hit by the Covid-19 outbreak are ready to embrace digitalization and to move toward proactive rather than reactive and treatment-focused models. While technology is constantly evolving, finding new applications and use cases in healthcare, the healthcare sector is still a long way from being able to realize its full potential. Hence, creative tools product would be benefiting by high demand for the healthcare sector.

 

 

 

Impact of COVID-19 in industry

 

The global economy and humanity have been pushed into a crisis due to the COVID-19 pandemic. Due to the high infection rate and adverse impact on public health systems, various governments have enforced nationwide lockdowns significantly impacting manufacturing supply chains, trade, and related services. Players are currently considering digital solutions that would enable them to serve the community and provide new opportunities to do business. The production, manufacturing, supply chain, and other operations, have slowed down globally aimed to limit the spread of corona virus,

The global impact of the coronavirus disease 2019 (COVID-19) is likely only beginning and would significantly affect the Creative Productivity Tool market in 2020. The outbreak of COVID-19 has brought with it travel bans and quarantines; massive slowing of the supply chain; uncertainty in the stock market; falling business confidence, and growing panic among the population. Despite the growing uncertainty and panic, technology suppliers must continue to focus on their long-term investments, maintain engagement with partners and prospects, and look to specific markets for stability. Emerging technologies like 5G, the Internet of Things, high-performance computing, and intelligent edge would be fundamental to an overall recovery by the technology sector.

 

Creative Productivity Tool Market: By Type

 

Based on the type, the productivity tool market is segmented into presentation maker, file sharing service, mind mapping tool, image manager, collection action toolkit, website builder, and others. The presentation maker software is likely to grow higher during the forecast period, in the creative productivity tool market, followed by, file sharing service. A presentation marker is a software that is specifically designed to allow users to create a presentation of ideas by stringing together text, images, and audio/video. The presentation tells a story or supports speech or the presentation of informationFile-sharing service is a type of online service that provides, mediates, and monitors the transfer of computer files. It a third-party service that provides the entire platform for sharing files between different users on the same or different networks.


Source: BlueWeave Consulting

 

Creative Productivity Tool Market: Regional Insight

 

Asia Pacific region is likely to dominate in the creative productivity tool market, followed by North America, and others. Developing countries like China and India have major opportunities for industrial production, retail sales, and fixed-asset investment for creative productivity tools. Several other economies such as Indonesia, the Philippines, and Singapore in the region are also forecast to grow at modest rates. The company's productivity is directly proportional to the productivity of workers. Hence, businesses in these regions are commonly embracing different instruments to help workers increase their productivity.



 

Source: BlueWeave Consulting

Competitive landscape

The creative productivity tool market is fragmented owing to the presence of number of companies that provides varied creative productivity tool products. However, the companies that hold the majority share of creative productivity tool market are Adobe Inc., Apple Inc., Microsoft Corporation, Google LLC, Smartsheet Inc., Tableau, Box Inc., Dropbox Inc., Pinterest Inc., Teamwork.com Ltd., Canva, MindMeister, CyberLink Corp., Lucid Software Inc, OpenGenius Ltd., GoAnimate Inc., Audacity, Zoho Corporation Pvt Ltd, Image Line Software, Ableton, MindGenius, Prezi Inc., and other prominent players.

In the creative productivity tool market, prominent market participants compete based on price and product quality. Small and medium-sized market players are expected to show considerable improvements in the foreseeable future, given the moderate level of capital expenditure needed to set up a business. The large-sized companies, however, are likely to aim for global expansion, in a bid to gain a more considerable brand reputation.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Russia, Brazil, Japan, South Korea, China, UAE, South Africa, UAE, Turkey

Product/Service Segmentation

By Type, By Application, By Enterprise size and By Region

Key Players

Adobe Inc., Apple Inc., Microsoft Corporation, Google LLC, Smartsheet Inc., Tableau, Box Inc., Dropbox Inc., Pinterest Inc., Teamwork.com Ltd., Canva, MindMeister, CyberLink Corp., Lucid Software Inc, OpenGenius Ltd., GoAnimate Inc., Audacity, Zoho Corporation Pvt Ltd, Image Line Software, Ableton, MindGenius, Prezi Inc., and others

 

Scope of the Report

By Application

Ø  Individual

Ø  Commercial

o    Educational Institute

o    Healthcare

o    IT/ITeS

o    Entertainment

o    Photography

o    Others

By Enterprise Size

Ø  Small

Ø  Medium

Ø  Large Enterprises

By Type

Ø  Presentation Maker

o    By Enterprise Size

Ø  File Sharing Service

o    By Enterprise Size

Ø  Collective Action Toolkit

o    By Enterprise Size

Ø  Image Manager

o    By Enterprise Size

Ø  Mind Mapping Tool

o    By Enterprise Size

Ø  Website Builder

o    By Enterprise Size

Ø  Others

o    By Enterprise Size

By Region

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  Middle East and Africa

Ø  Latin America

COVID-19

We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at

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