Forrester recently released a new report that examines vendors in the product management tools and tech market. The report, titled New Tech: Digital Product Management Tools and Tech, Q2 2021, explores how product managers across a range of industries are increasingly seeking productivity tools to help them solve product management challenges and develop successful digital products. As Forrester puts it, product management tools are “tech you can no longer afford to ignore.”
In the report, Forrester stresses that using tools like FullStory to support well-designed product management practices is now critical to building a robust product management capability for digital. Because these tools are proven to increase customer value, improve product adoption, and drive higher customer retention and revenue growth, they are now considered a vital component of any digital product marketing strategy.
Included in the report as a “growth-stage” tech known for working with companies such as Hudson’s Bay Company (HBC), Lowe’s, and Nationwide Insurance, FullStory helps organizations revolutionize their digital experiences by combining quantitative and qualitative data into scalable, actionable user behavior insights.
The report found that increased demand for product management tools is fueling swift growth in the market. In fact, Forrester found that venture capital (VC) investment in this market is growing at a compound annual growth rate (CAGR) of nearly 50 percent. More VC naturally leads to more players in the market, and the report reviews 48 bootstrapped or VC-backed digital product management tools and tech vendors, and six mature vendors in the product management tools market today.
To read more about emerging vendors in the product management tools and tech market, you can download the report (please note: a paid subscription is required).