Kanban Tools Market REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global kanban tools market size is expected to be USD 234.7 million in 2022 and the market is projected to touch USD 1250.68 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 5.5% during the forecast (2024-2031). In the market study, our analysts have considered kanban tools players such as Kanbanchi, Taiga.io, and GoodDay Work.
The global COVID-19 pandemic has been unprecedented and staggering, with the kanban tools market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Kanban tools are widely used in project management to visualize workflows, increase efficiency, and promote collaboration. These tools help teams track tasks and monitor progress in real time, enabling effective prioritization and resource allocation. With features like customizable boards, task cards, and notifications, Kanban tools streamline communication and enhance productivity.
Advanced technology is getting integrated into kanban to increase its efficiency. Advanced analytics are also being adopted. There is growing need for project enhancement. Companies ask for transparency and visibility in project management. All of these factors have tremendously helped in the growth and development of kanban tools market share.
COVID-19 Impact: Adoption of Work from Home During Pandemic Increased Market Share
The pandemic of COVID-19 had a negative impact on the growth and development of many industries. As remote work became the norm, the reliance on digital collaboration tools, including Kanban software, increased dramatically. With teams scattered across different locations, Kanban software played a vital role in maintaining project visibility, facilitating communication, and ensuring workflow continuity.
The pandemic accelerated the adoption of cloud-based Kanban tools, allowing teams to access and update boards remotely. Additionally, the crisis highlighted the need for flexibility and adaptability, prompting Kanban tool providers to enhance features like virtual collaboration, task assignments, and progress tracking, catering to the changing demands of remote work.
LATEST TRENDS
"Incorporation of Advanced Analytics in Kanban Tools to Propel Market Growth"
The latest trends in Kanban tools reflect a continuous evolution toward enhancing user experience, collaboration, and automation. Integration with other popular project management tools and platforms is a growing trend, allowing seamless data exchange and workflow synchronization.
Additionally, Kanban tools are incorporating advanced analytics and reporting features to provide teams with valuable insights for performance tracking and decision-making. Artificial intelligence and machine learning capabilities are being integrated to automate repetitive tasks and optimize resource allocation. These trends are newly emerging in the market.
Kanban Tools Market SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Types:
The market can be divided on the basis of type into the following segments:
Monthly subscription, and, annual subscription. The monthly subscription is anticipated to dominate the market during the forecast period.
- By Application:
Based on application, the market share is bifurcated into the following segments:
Agile testing, and, project planning and management. The agile testing segment is expected to dominate the market during the forecast period.
DRIVING FACTORS
"Growing Need for Enhanced Project Management in Companies to Amplify Market Growth"
The popularity and adoption of Kanban tools can be attributed to several driving factors. The need for enhanced project management efficiency and productivity in organizations has led to the recognition of Kanban as an effective methodology. Its visual approach and clear representation of tasks and workflows resonate well with teams seeking better organization and coordination.
Along with this, the rise of remote work and distributed teams has created a demand for digital collaboration tools, with kanban tools providing real-time updates, seamless communication, and remote access. Thirdly, the scalability and flexibility of Kanban tools allow teams to adapt to changing project requirements and evolving business needs. All of these factors are contributing towards the rapid growth and development of the market share.
"Requirement for Transparency and Visibility in Project Management to Propel Market Growth"
In addition to the factors mentioned earlier, there are several other driving factors behind the popularity and adoption of kanban software. One crucial factor is the increasing focus on agile methodologies and continuous improvement in project management. Kanban, with its emphasis on incremental changes and workflow optimization, aligns well with agile principles.
Furthermore, the demand for transparency and visibility in project management has propelled the use of kanban tools, as they provide a centralized platform for tracking tasks, progress, and bottlenecks. The collaborative nature of kanban software facilitating cross-functional teamwork and effective communication, is another driving factor. Lastly, the availability of cloud-based kanban software has made them accessible to organizations of all sizes, eliminating the need for costly infrastructure and technical expertise. The above-mentioned factors are fueling the kanban tools market growth.
RESTRAINING FACTOR
"Requirement of Intensive Training to Adapt to Kanban to Bring Down Market Share"
While kanban software offer numerous benefits, there are a few restraining factors that may impact their adoption. One factor is the resistance to change within organizations accustomed to traditional project management methods. Implementing Kanban requires a shift in mindset and practices, which can be met with resistance and hesitation. Another factor is the learning curve associated with using Kanban tools effectively.
Teams may require training and time to adapt to the new workflow and features, which can temporarily slow down productivity. Additionally, the cost of acquiring and maintaining Kanban software may pose a barrier for some organizations, especially smaller ones with limited budgets. All of these factors may bring down the growth and development of the market.
Kanban Tools Market Regional Insights
-
Request a Free Sample to learn more about this report
"North America to Dominate Market During Forecast Period"
The region that has taken up majority of the market share is North America. The leading region in the adoption and utilization of Kanban tools is North America. The region's advanced technological infrastructure, coupled with a strong emphasis on innovation and efficient project management, has contributed to its dominance.
North American businesses, ranging from small startups to large enterprises, have recognized the value of Kanban in optimizing workflows and enhancing team collaboration. The region also hosts a thriving tech industry and a culture that embraces digital transformation, making it a fertile ground for the development and adoption of Kanban. These factors have increased the scope of North America in the market.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Monday (Israel)
- Kanbanchi (U.K.)
- Taiga.io (Spain)
- GoodDay Work (U.S.)
- VivifyScrum (Croatia)
- Shore Labs (U.S.)
- BusinessMap (U.S.)
- Inspire Associates (U.K.)
- Kaiten (Poland)
- Agilefant (Finland)
- Digite (U.S.)
- Yolean (Sweden)
- Kanban Zone (U.S.)
- ScrumDesk (Czech Republic)
- Kanban One (U.S.)
- Auscomp (Australia)
- Kanboard (France)
- Pintask (U.S.)
- Restya (India)
Report Coverage
The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 234.7 Million in 2022 |
Market Size Value By |
US$ 1250.68 Million by 2031 |
Growth Rate |
CAGR of 18% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the kanban tools market expected to touch by 2031?
The kanban tools market size is expected to reach USD 1250.68 million by 2031.
-
What CAGR is the kanban tools market expected to exhibit by 2031?
The market is expected to exhibit a CAGR of 18.0% by 2031
-
Which are the driving factors of the kanban tools market?
Advanced technology is getting integrated into kanban to increase its efficiency. Advanced analytics are also being adopted. There is growing need for project enhancement. Companies ask for transparency and visibility in project management
-
Which is the leading region in the kanban tools market?
North America is the leading region in the kanban tools market.
-
Which are the key players or most dominating companies functioning in the kanban tools market?
Monday, Kanbanchi, Taiga.io, and, GoodDay Work are some of the top companies operating in the kanban tools market.