Segmentation, Competitors Analysis, Product Research, Trends and Forecast by 2023
According to Stratistics MRC, the Global Innovation Management market is expected to grow from $288.25 million in 2016 to reach $1,963.17 million by 2023 with a CAGR of 31.5%. Rising requirement for crowd sourcing innovations from different organizations, shifting work cultures and growing scope for companies due to the development of new and innovative products are some drivers which are positively affecting the market. However, incompetence of enterprises to follow reliable RoI based on innovation management solutions is a major restraint creating a hurdle for the market growth.
Innovation is widely recognized as a contributor to business success, which in turn is stimulating interest in innovation management tools. This research highlights for application leaders important trends, and profiles representative vendors in this highly fragmented market.
In this rapidly changing world of technology, innovation management market is projected to show major growth prospects during the forecast period. As compared to other regions, the Innovation Management Market in North America is expected to witness significant growth during the forecast period. U.S and Canada are anticipated to drive the growth of Innovation Management market. This is owing to the presence of large number of established key players in the innovation management market in that region.
Whether government agencies engaging the citizenry, large enterprises solving big business challenges or departments redefining processes, demand for new innovation currently outstrips the supply of technologies helping enable it. With its crowdsource-based innovation platform, IdeaScale is one vendor looking to supply that demand.
Earlier this month at Sustainable Brands’ New Metrics ’16 conference, IdeaScale, Topcoder and SensisChallenges presented on the use of crowdsourcing to drive innovation and de-risk the execution of corporate sustainability initiatives.
By pairing idea management solutions from IdeaScale with the crowdsourcing campaign management and marketing that SensisChallenges delivers, and executing on the top ideas through Topcoder’s crowdsourcing challenges, any organization in the room could take advantage of what is an ‘innovation in a box’ solution that effectively strings together varied crowdsourcing offerings into a powerful, scalable program. Bonner shared a recent HPE social good program dubbed the Living Progress Challenge as an example of a large-scale innovation program, powered by crowdsourcing.
Digital technology has increased the speed at which the business world operates
For innovation to be a priority, you need software to help your team communicate with each other, set goals and track outcomes. Streamlining the process also means no one gets stuck beating the same dead idea over and over while your budget dwindles. Give [...] IdeaScale a try.
At the Energy Exchange 2016 earlier this month, the Department of Energy's (DOE) Federal Energy Management Program (FEMP) and Building Technologies Office (BTO) announced the winner of the FEMP JUMP technology challenge to identify underutilized new or recently-commercialized building technology solutions. Retrofit Originality Incorporated was selected for their high efficiency dehumidification system (HEDS) proposal, which outlined a unique, innovative, and potentially impactful technology for both the federal and private sectors.
The 113th Precinct, historically perceived as a high-crime area, had the largest drop in overall crime in the entire city last year
The precinct, which covers South Jamaica, St. Albans and Springfield Gardens, has seen a 13 percent decrease in overall crime, on top of the 15 percent reduction in overall crime last year, according to Capt. Brian Bohannon, executive officer for the 113th Precinct... Placing foot posts in high-crime areas as a deterrent and Ideascale, an online forum allowing residents to share their ideas, complaints and suggestions, also helped, Bohannon said.
Join DHS S&T for a Flood Resilience Facebook Town Hall July 20!
Flooding is one of the most common disasters in the United States, and regions across the country face flood risks in different ways. In 2015, more deaths and property destruction were caused by floods than any other natural disaster. To address this issue, the Department of Homeland Security (DHS) Science and Technology Directorate (S&T) developed the Flood Apex program, which seeks to apply new technologies and solutions to the risks posed by flooding—risks that confront individuals, communities, states, and regions. S&T’s aim is to help reduce deaths and property damage caused by floods, and to increase community flood resiliency.
How can we talk about creativity and innovation to make it part of our business as usual? Like many things, permission to think freely starts at the top.
Empowering team members to suggest and develop creative solutions is a leadership responsibility. To some leaders it might feel like they’re handing the keys to the asylum over to the inmates, but smart leaders who foster and celebrate creativity assure long-term team and organisational viability by creating an enabling environment where new ideas flourish.