Upsurge in usage of smartphones and internet, optimization of business performance to save time, and rise in adoption of m-health apps drive the growth in the global appointment scheduling software market
PORTLAND, Oregon, July 4, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Appointment Scheduling Software Market by Type (Web-based, SaaS; Mobile App; and Others), Organization Size (Small & Medium Sized Enterprises, and Large Enterprises), and End-User Industry (Corporate, Beauty & Wellness, Education, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global appointment scheduling software market garnered $205.85 million in 2018, and is expected to reach $546.31 million by 2026, registering a CAGR of 13.1% from 2019 to 2026.
Upsurge in usage of smartphones and internet, optimization of business performance to save time, and rise in adoption of m-health apps drive the growth in the market. However, lack of network infrastructure and awareness regarding software hinder the market growth. On the other hand, demand for minimized administration efforts and usage of artificial intelligence (AI) & natural language processing (NLP) for appointment scheduling would create new opportunities in the industry.
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Web-based, SaaS segment to maintain its lead position by 2026
Based on type, the web-based, SaaS segment garnered nearly two-fifths of the total market share in 2018, and would maintain its lead position during the forecast period. This is attributed to low investment costs and affordability of monthly plans of web-based, SaaS appointment scheduling software. However, the mobile native app segment is estimated to grow at the highest CAGR of 14.6% from 2019 to 2026, owing to surge in smartphone penetration, rise in need for mobility in businesses, and rapid growth in use of mobile apps in various industries such as healthcare.
Large enterprises segment to dominate in terms of revenue throughout the forecast period
On the basis of organization size, the large enterprises segment held the major share, contributing to nearly two-thirds of the total market share, and is anticipated to dominate in terms of revenue throughout the forecast period. This is due to awareness regarding convenience provided by online bookings and scheduling software. On the other hand, the SMEs segment is expected to register the fastest growth rate with a CAGR of 14.2% during the forecast period, owing to rise in awareness and adoption of affordable monthly plans offered by market vendors based on the needs of businesses.
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Asia-Pacific to grow at the fastest rate
Based on region, Asia-Pacific would grow at the highest CAGR of 15.3% from 2019 to 2026, owing to rapidly increase in smartphone penetration, availability of affordable & fast internet connectivity in the region, and growth in number of small and medium sized enterprises. However, North America contributed to more than two-fifths of the total market share in 2018 and will maintain its leadership status throughout the forecast period. This is due to huge presence of service-based businesses, enterprises with fast internet connections, and early adoption of digitalization in the region.
Frontrunners of the industry
Key market players explored in the research include Appointy, Melian Labs, Inc., Acuity Scheduling (Squarespace), Setmore, MindBody, Square, Inc., SimplyBook.me, Timetrade, SuperSaaS, and 10to8.
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