What is the product management software tools space?

• Market and Industry focussing on providing software solutions and tools specifically designed for product managers.
• These tools are centered around the development and success of a product throughout its lifecycle.
• They help with tasks such as product planning, development, tracking, collaboration, and analysis. Product management tools often include features like product roadmapping, prioritization, customer feedback management, and agile project management.

What is the difference between project management tools vs. product management tools?

• Project management software tools are more broad and cater to a wider range of project-related tasks
• They are designed to help manage and track the progress of projects, including tasks, timelines, resources, and team collaboration. Project management tools typically focus on project planning, scheduling, task management, resource allocation, and communication

What is the major difference between product management and project management tools?

Primary focus: Product management software tools are specifically tailored for management of the end-to-end product lifecycle process, while project management tools are specifically for project-related tasks.

How big is the market?

• There are about 27 million software developers in the world (according to data here, here
• Considering a ratio of 1 product manager to 10 developers, there are 2.7 million product managers in the world
  • Doing a LinkedIn Search with “Product” in the keyword yields about 1.4M people results (link)
• Considering that people might have different titles on LinkedIn, averaging out the two data points gives us: 2.05M ~ 2M product managers.
• Let’s take the top 3 players in product management tools:
  • Zeda.io: $99 per PM/month (Pro Package)
  • Roadmunk: $99 per PM/month (Professional Package)
  • ClickUp: $20 per PM/month (Business)
  • Airfocus: $99 per pm/month (Professional Package)
• Since these are individual and small team packages, lets consider that enterprises will adopt enterprise packages with are on and average $100 - $150 per PM/per month
• Total Addressable Market for PMs: 2.4 B - 3.6 B
• Considering that about 1/3rd of the product managers are in North America region and the rest are spread around the world, currency conversion comes into play
  • 800M - 1.2 B comes from North American Market
  • The valuation of the remaining $ value can be divided in half to account for currency fluctuations across the world market. (600M - 1.2 B)
• TAM (considering currency exchange): 1.4 B - 2.4 B

Why are there not many product management tools in the market?

<aside> 💡 Reason 1: Product Management is an ART not a SCIENCE.

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