On the basis of geography, global Innovation management market is classified into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds the dominant position in the global Innovation management market in 2016 and is projected to retain its dominance throughout the forecast period. Due to the strong presence of solution providers, highly adoption of new technology and internet infrastructure provides the growth opportunity to the Innovation management market in North America region. In addition of this, the demand of better business processes and operational efficiency at low operating costs is forecasted to drive the market of innovation management in this region

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Innovation management is a set of tools that enables managers and engineers to cooperate with a common understanding of processes and goals. This management system refers innovations for business processes, products, and industrial operations. Various organizations are increasingly adopting innovation management software and solutions to innovate or improve their existing products, depending on the specific demand of customers. Moreover, growing demand for open or crowdsourcing innovations and increasing demand for innovative products is expected to increase growth of the innovation management market globally.

Key companies of global Innovation management market

Brightidea, Incorporated, CogniStreamer, Crowdicity Ltd., Exago Inc., Hype Innovation, Inc., Ideascale, Imaginatik PLC, Inno360, Inc., Innosabi GmbH, Planbox, Inc., Qmarkets, SAP SE and Spigit, Inc. are some of the key companies of the global Innovation management market.

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Innovation management market taxonomy

On the basis of vertical, the global Innovation management market is classified into:

Aerospace & Defense
Automotive & Manufacturing
Banking, Financial Services, and Insurance
Healthcare & Pharmaceuticals
IT, Media, and Communication Technology
Public Sector & Education
Retail & Consumer Goods
Transportation & Logistics
Others

The retail & consumer goods vertical holds the dominant position in the global Innovation management market. With the help of innovation management solution the retailers finds a way to increase the distribution or sales of the product and innovate new business ideas which helps to improve the customer relations. Moreover the healthcare and pharmaceutical segment is projected to grow with the largest CAGR in the forecast period due to changing patient demand and digitalization. These changes have challenged the healthcare and pharmaceutical business to innovate the new strategies and fulfill the requirement of the patients.

On the basis of application, the global Innovation management market is classified into:

Collective Intelligence & Prediction Platforms
Human Resource Platforms
Marketing, Design, and Idea Platforms
Product Research & Development Platforms

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