Global Innovation Management Market : Industry Analysis (2020-2026),
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Global Innovation Management Market was valued $xx Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of xx% during the forecast period.
Global Innovation Management Market Introduction
Innovation has been widely recognized as the main driver and first impetus for a sustainable regional or national economic growth, as well as global competency. The marginal benefit from labor investment is decreasing, while the returns of investment in new technology is increasing, which becomes a new driving force for the emerging economics to obtain a competitive advantage in the global market. In order to realize indigenous innovation, a company should focus on optimizing the frame of an innovative organization. In order to complete the transformation of idea to market value, innovation management needs careful design in terms of strategy, organization, resource and culture (institution), which means the “creative destruction” based on deconstruction and the “organizational reconstruction and regularization” management activities based on construction are reasonably interacted to continuously promote the evolution of the company.
Global Innovation Management Market Dynamics
With the rising competition worldwide, companies are intensively focusing on R&D activities to gain a competitive advantage. With the rise in R&D activities, it has become highly necessary for companies to manage ideas through a common platform. This requirement leads to rising demand for innovation management software. According to the UNESCO Institute of Statistics, global spending on R&D was reached approximately US$ 1.7 trillion in 2018. The countries like China, Japan, India, U.S, France, UK, and Canada contribute approximately 60% of total R&D spending worldwide. Most of these countries are offering tax benefits to the company for their R&D activities. Hence, most of the demand for innovation management software will likely come from these countries with rising preferences for organizational innovation.
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Last Update : 02 September 2021 11:08 AM
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