-International Data Corporation (IDC) today published its 2013 Innovation Management Solutions MarketScape report profiling and ranking 10 leading worldwide providers. The new research indicates that due to the increasing impact of the Internet, social interactions, and the growing acceptance of social software, organizations are reacting to these new models and technologies by actively soliciting feedback as a way to meet and manage the changing expectations of employees, customers, partners, and suppliers.
"As competitive pressures rise, companies will increasingly look to innovation management solutions to help build a more agile business," said Vanessa Thompson, Research Manager for Enterprise Social Networks and Collaborative Technologies. "Companies are now able to make many smaller changes based on feedback from employees, customers, partners, and suppliers that add up to larger, more significant changes and an overall more agile and innovative organization. Managing the complex processes associated with leveraging this feedback is where innovation management plays a key role."
The report, IDC MarketScape: Worldwide Innovation Management Solutions 2013 Vendor Analysis (IDC #240823), examines the key players in the worldwide innovation management solutions market and analyzes their current capabilities as well as longer-term strategies that impact their ability to service customers and gain market share.
The IDC Innovation Management Solutions MarketScape named Lithium, Spigit, Brightidea, UserVoice, salesforce.com, HYPE Idea Management, Imaginatik and IdeaScale as Major Players in this market. This market currently has no leaders as the majority of companies today that have deployed an innovation management solution have done so to solve either cocreation or open innovation but not both. This has meant the market for Innovation Management solutions has become highly fragmented with Lithium and Spigit the vendors closest to providing a holistic solution to meet customers broader needs.
"Moving forward, it will be critical for innovation management solution providers to fulfill the growing customer demand for broader and more specific idea capture and management scenarios that tie together internal and external constituents, but also deliver end-to-end management of the ideas or feedback into action," added Thompson.