The Future of Appointment Scheduling Software: Projected Market Growth until 2021
The appointment scheduling software industry has seen a steady rise in the last ten years. In July 2018, the Global Appointment Scheduling Software Market report was released providing an insight into the current direction of the industry, as well as a forecast of its future trajection until 2021.
According to the paper, the compound annual growth rate (CAGR) is set to reach 9.8 percent for the period between 2017 and 2021. To put it into perspective, the growth rate of the entire SaaS industry is 22% during the same period.
However, this large-scale analysis also contains other data which gives an in-depth overview. These include contributing growth factors and innovations which aid market development. To understand what this means for your appointment-based business, here is a brief overlook of keynotes from the report.
The overall main goal of the report is to provide an insight into market movement. As well as factors which can contribute to further market growth. It includes values that are currently in effect and estimated data based on them until 2021 (January 1, 2022).
When it comes to crucial insights which contribute to the segmentation of the appointment scheduling software market, three stand out in the analysis:
- region and country
- product type
Insight into each is helpful for business development. As it allows you to understand the what, where and how of the industry. Then to make an investment decision based on the information presented.
Regions and Countries with the Largest Market Share
Because it is conducted at a global level, the report gives insight into both country and regional share of the appointment scheduling software market.
Countries that dominate the market are developed Western nations, like the United States, Canada, Germany, France, Japan, Korea and Australia. However, due to the rise of infrastructure in countries like China, Thailand, Singapore, and India, they are set to become substantial users by 2021.
The regional input is similar. North America, Europe, and Australia continue to provide a consistent flow of revenue to the industry. While the contribution of East and Southeast Asia, Africa and the Middle East will rise year in and year out.
Insight into Product Type Shares
According to the type of product on offer, the global appointment scheduling software market is divided into SaaS, Web, Cloud, and Mobile. The later is further divided into Android, iOS and Other.
Currently, a rough estimate of all devices in service is around 8.4 billion. With the share of mobile devices (phones and tablets) in the range of 2.8 billion. However, according to statistics, this number will jump to 50% by 2021, which will significantly impact the stratification of appointment scheduling software users.
Findings Based on Application
This insight is the most important one for business owners. It depicts the current and future movement of appointment scheduling software according to its use in business.
Concerning application, the report accounts for Small Business, Midsize Enterprise, Large Enterprise and Other. In the US and other matured markets, the application is set to grow at a steady pace across all segments. However, in the emerging market, the Midsize Enterprise segment is to record high growth when compared to others.
Finally, according to the report, the number one challenge to the industry is awareness among users. The lack of application of technological innovations delays serious market growth. And to improve it, more companies will have to adopt appointment scheduling software into their business model
Are you a looking to take advantage of this lack of competition? Sign up for a 30-day free trial and accelerate the growth of your business with appointment scheduling software, and grow side-by-side with the industry until 2021.