According to reports from Market Research Intellect, industries worldwide are increasingly leveraging various software applications driven by artificial intelligence (AI) to enhance operational efficiency and automate functions across their businesses. Followed closely by the implementation of AI-driven sales assistant tools, spreadsheet software, IT service management (ITSM) solutions, manufacturing inventory management systems, and recruiting automation software, many businesses are embracing these technological advancements to streamline their operations.
The global Spreadsheet Software market, for instance, is projected to experience robust growth, with an estimated compound annual growth rate (CAGR) of 9.35%, rising from a valuation of approximately $13.26 billion in 2024 to an anticipated $22.67 billion by 2031. The rising demand for data analysis and business intelligence tools is key to this growth. Businesses of various sizes are increasingly pursuing cloud-based spreadsheet solutions that enable real-time collaboration across devices, thereby unlocking enhanced productivity and analytics capabilities. Additionally, the integration of AI and advanced data analytics in spreadsheet tools is helping to further refine functionality and user engagement.
Transitioning to the AI Sales Assistant Software market, it is set to expand from $3.2 billion in 2025 to about $10.6 billion by 2032, registering a CAGR of 15.8%. These tools facilitate automating repetitive tasks and analysing customer behaviour, thus bolstering efficiency and enabling sales teams to focus on strategic priorities. Major players in this sector include Salesforce and HubSpot, which are integrating these technologies into broader CRM platforms.
In the ITSM sector, the projected market growth mirrors trends in AI adoption as organizations increasingly turn to ITSM solutions to improve service delivery. Expected to grow from $11.73 billion in 2024 to $21.8 billion by 2031, the ITSM software market is forecasted to achieve a CAGR of 10.88%. Key drivers include the shift to cloud-based solutions, increased demand for automation in incident management and service delivery, as well as the integration of AI and machine learning capabilities which enhance predictive analysis and self-service functionalities.
The Manufacturing Inventory Management Software market is also witnessing significant expansion, expected to grow at a CAGR of 11.48%, reaching a valuation of approximately $21.36 billion by 2031. The demand for real-time tracking and sophisticated inventory management technologies is rising as companies adopt automation to improve visibility and efficiency within their supply chains. The integration of AI and IoT technology has further optimized these processes, thereby promoting innovations like predictive analytics within inventory management.
Furthermore, the Recruiting Automation Software market has been projected to experience steady growth with an expected CAGR of 8.1% from a valuation of $14.51 billion in 2024 to around $23.15 billion by 2031. Factors driving this growth include the need for more efficient hiring processes, the increasing complexity of recruitment needs, and the demand for improved candidate engagement tools. The rise of remote work and global talent sourcing practices further encourages businesses to adopt automation technologies that efficiently handle diverse candidate pipelines.
As the landscape evolves across varying industries—driven by digital transformation and the pursuit of innovation—companies are increasingly adopting these AI-driven software solutions. This dynamic environment fosters a competitive marketplace where businesses can strategically leverage technology to improve efficiency, enhance customer interaction, and ultimately drive growth across their operations.
Source: Noah Wire Services