Diagramming Software Market is expected to reach US$ 1313.66 million by 2028

The diagramming software market was valued at US$ 700.00 million in 2021 and is projected to reach US$ 1,313.66 million by 2028; it is expected to grow at a CAGR of 9.4% from 2021 to 2028. North America dominated the market in 2020 with a share of 45.7%. North America is a highly competitive market as it attracts several technological developments from economically robust countries. The companies in the region are continuously enhancing the overall business processes to meet customers' demand for high-quality products and services in the best possible way. The diagramming software are increasingly being used in educational institutes, the corporate sector, and personal applications. Further, the growing usage of the cloud-based platform in software is fuelling the demand for diagramming software in North America. Additionally, the increasing inclination toward web-based interface and large-scale investments made in this market would create lucrative opportunities for the diagramming software market in North America in the coming years. However, according to studies, more than 67% of enterprises across the US have adopted work home environment due to the COVID-19 pandemic. This has propelled the adoption of cloud-based diagramming solutions across enterprises to enable smooth remote working among teams. The need for collaboration among team members during presentations and meetings has also bolstered the adoption of collaboration enabled diagramming software across the region. Thus, the COVID-19 outbreak pandemic has positively impacted the growth of the market.

Europe held the second-largest share in the diagramming software market in 2020. Companies in the European market adopt major strategies, such as mergers and acquisitions, for enhancing their brand value across the world. These players also adopt inorganic growth strategies, such as takeovers and partnerships, for building business relations with other providers, thereby improving the existing market position. In March 2019, Visirule, a UK-based organization, integrated artificial intelligence with its diagram software platform. Countries in Europe have the best management systems, which—coupled with trends prevailing in education institutes and the corporate sector—is fueling the demand for diagramming software, leading to increased deployment of software in the region. The increasing usage of advanced software for learning and the rising presence of foreign and local students in several countries are propelling the demand for diagramming software in education institutes application. For instance, as the UK is a global hub for higher education, the deployment of advanced education systems, such as diagramming software, is increasing in the country.

The diagramming software market players adopt several organic and inorganic strategies to expand their business and maintain brand name across the world. For instance, in 2021, Lucidchart Software Inc. announced its strategic partnership with Asana Partners program as a technology partner with Lucidchart integration to support distributed teams within existing workflows. This new integration will enable Lucidchart users to seamlessly embed diagrams, flowcharts, and more into Asana project briefs, allowing teams to view Lucidchart documents without switching between applications.

The diagramming software market is segmented on the basis of deployment type, enterprise size, application, and geography. Based on deployment type, the market is bifurcated into cloud-based and on-premises. Based on enterprise size, the diagramming software market is bifurcated into small and medium size enterprises and large enterprises. By application, the market is segmented into educational institutions, corporates, and personal. Based on geography, the diagramming software market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

Diagramming Software Breakdown — by Region, 2020 and 2028

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Diagramming Software Market to Grow at a CAGR of 9.4% to reach US$ 1313.66 million from 2021 to 2028

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Diagramming Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment Type (Cloud and On-Premises), Enterprise Size (Small and Medium-Size Enterprises and Large Enterprises), and Application (Educational Institutions, Corporates, and Personal)