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Performance Appraisal and Management Software Market by Type (System Management, Personnel Management, Attendance Management), Deployment Mode (On-premises, Cloud-based), Organization Size (Large Enterprises, Small and Medium-sized Enterprises), Industry Vertical (BFSI, IT and Telecom, Healthcare, Retail, Public Sector, and Others), and Region 2024-2032
Market Report I 2024-04-08 I 136 Pages I IMARC Group
The global performance appraisal and management software market size reached US$ 5.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.8 Billion by 2032, exhibiting a growth rate (CAGR) of 11.26% during 2024-2032. The rising number of work-from-home employees in the workforce, the growing need for privacy and security of employee data, and continual technological advancements in industry chain structures represent some of the key factors driving the market.
Performance appraisal and management software assist companies in managing their workforce's performance and appraisals effectively. It analyzes employees' abilities and skills, attendance, and projects to assist in performance assessment and appraisal management. As part of an appraisal system, an employee's performance will be evaluated against a set of objectives as well as their strengths and weaknesses will be identified. This software improves performance evaluation by setting individual and team goals, reviewing progress, and enhancing the skills and abilities of the individuals involved. The software is aimed at improving and modernizing existing performance processes, maintaining effective worker retention as well as deciding on long-term strategies to achieve the organization's goals. As a result, it is widely utilized in a wide range of end-use industries across the globe.
Performance Appraisal and Management Software Market Trends:
The escalating demand for simplified performance appraisal systems with accurate and unbiased analytics is a significant factor driving the market. This can be attributed to the decreasing number of work profiles requiring manual labor as well as the increasing volume of cloud-based data. In line with this, the growing need for privacy and security of an employee data by replacing traditional systems is providing an impetus to the market. Continual technological advancements in industry chain structures are also resulting in a higher product uptake in various end-use industries. Besides this, the rising adoption of online portals and mobile apps focusing on team-centric management by numerous end-use industries is creating lucrative growth opportunities in the market. The market is further fueled by the introduction of artificial intelligence (AI), machine learning (ML), and the internet of things (IoT) for providing analytical insights. Apart from this, the increasing number of start-ups is resulting in a higher product uptake across small and medium enterprises (SMEs). However, the rising threats of cyberattack and data breaches as well as difficulty in obtaining scalable results in short term are the factors restraining the market growth. On the contrary, the rise in expenditure on performance management solutions by larger organizations is creating a positive outlook for the market. Some of the other factors propelling the market include the increasing number of work-from-home (WFH) employees, the emerging trend of cloud computing, rapid industrialization, and extensive research and development (R&D) activities conducted by key players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global performance appraisal and management software market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type, deployment mode, organization size, and industry vertical.
Type Insights:
System Management
Personnel Management
Attendance Management
The report has provided a detailed breakup and analysis of the performance appraisal and management software market based on the type. This includes system management, personnel management, and attendance management.
Deployment Mode Insights:
On-premises
Cloud-based
The report has provided a detailed breakup and analysis of the performance appraisal and management software market based on the deployment mode. This includes on-premises and cloud-based. According to the report, on-premises represented the largest segment.
Organization Size Insights:
Large Enterprises
Small and Medium-sized Enterprises
The report has provided a detailed breakup and analysis of the performance appraisal and management software market based on the organization size. This includes large enterprises and small and medium-sized enterprises. According to the report, large enterprises represented the largest segment.
Industry Vertical Insights:
BFSI
IT and Telecom
Healthcare
Retail
Public Sector
Others
A detailed breakup and analysis of the performance appraisal and management software market based on the industry vertical has also been provided in the report. This includes BFSI, IT and telecom, healthcare, retail, public sector, and others. According to the report, BFSI accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for performance appraisal and management software. Some of the factors driving the North America performance appraisal and management software market include the escalating demand for simplified performance appraisal system with accurate and unbiased analytics, the rising adoption of online portals and mobile apps focusing on the team-centric management, and the emerging trend of cloud computing, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global performance appraisal and management software market. Detailed profiles of all major companies have also been provided. Some of the companies covered include 15Five, Advance Change Ltd. (Actus), BambooHR LLC, BMC Software Inc., Cornerstone OnDemand Inc., ELMO Software Limited, Paradiso Solutions, PO Soderberg & Partner AB, Reflektive Inc., SAP SE, UKG Inc., Workday Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global performance appraisal and management software market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global performance appraisal and management software market?
What are the key regional markets?
Which countries represent the most attractive performance appraisal and management software markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the industry vertical?
What is the competitive structure of the global performance appraisal and management software market?
Who are the key players/companies in the global performance appraisal and management software market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Performance Appraisal and Management Software Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 System Management
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Personnel Management
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Attendance Management
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Deployment Mode
7.1 On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Organization Size
8.1 Large Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Small and Medium-sized Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Industry Vertical
9.1 BFSI
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 IT and Telecom
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Healthcare
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Retail
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Public Sector
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 Drivers, Restraints, and Opportunities
11.1 Overview
11.2 Drivers
11.3 Restraints
11.4 Opportunities
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 15Five
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Advance Change Ltd. (Actus)
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 BambooHR LLC
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 BMC Software Inc.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 SWOT Analysis
15.3.5 Cornerstone OnDemand Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 ELMO Software Limited
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.7 Paradiso Solutions
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 PO Soderberg & Partner AB
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Reflektive Inc.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 SAP SE
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
15.3.11 UKG Inc.
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 SWOT Analysis
15.3.12 Workday Inc.
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
Figure 1: Global: Performance Appraisal and Management Software Market: Major Drivers and Challenges
Figure 2: Global: Performance Appraisal and Management Software Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Performance Appraisal and Management Software Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Performance Appraisal and Management Software Market: Breakup by Type (in %), 2023
Figure 5: Global: Performance Appraisal and Management Software Market: Breakup by Deployment Mode (in %), 2023
Figure 6: Global: Performance Appraisal and Management Software Market: Breakup by Organization Size (in %), 2023
Figure 7: Global: Performance Appraisal and Management Software Market: Breakup by Industry Vertical (in %), 2023
Figure 8: Global: Performance Appraisal and Management Software Market: Breakup by Region (in %), 2023
Figure 9: Global: Performance Appraisal and Management Software (System Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Performance Appraisal and Management Software (System Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Performance Appraisal and Management Software (Personnel Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Performance Appraisal and Management Software (Personnel Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Performance Appraisal and Management Software (Attendance Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Performance Appraisal and Management Software (Attendance Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Performance Appraisal and Management Software (On-premises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Performance Appraisal and Management Software (On-premises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Performance Appraisal and Management Software (Cloud-based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Performance Appraisal and Management Software (Cloud-based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Performance Appraisal and Management Software (Large Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Performance Appraisal and Management Software (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Performance Appraisal and Management Software (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Performance Appraisal and Management Software (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Performance Appraisal and Management Software (BFSI) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Performance Appraisal and Management Software (BFSI) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Performance Appraisal and Management Software (IT and Telecom) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Performance Appraisal and Management Software (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Performance Appraisal and Management Software (Healthcare) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Performance Appraisal and Management Software (Healthcare) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Performance Appraisal and Management Software (Retail) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Performance Appraisal and Management Software (Retail) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Performance Appraisal and Management Software (Public Sector) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Performance Appraisal and Management Software (Public Sector) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Performance Appraisal and Management Software (Other Industry Verticals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Performance Appraisal and Management Software (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: North America: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: North America: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: United States: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: United States: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Canada: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Canada: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Asia-Pacific: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Asia-Pacific: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: China: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: China: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Japan: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Japan: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: India: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: India: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: South Korea: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: South Korea: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Australia: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Australia: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Indonesia: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Indonesia: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Others: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Others: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Europe: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Europe: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Germany: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Germany: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: France: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: France: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: United Kingdom: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: United Kingdom: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Italy: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Italy: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Spain: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Spain: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Russia: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Russia: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Others: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Others: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Latin America: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Latin America: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Brazil: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Brazil: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Mexico: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Mexico: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Others: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Others: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Middle East and Africa: Performance Appraisal and Management Software Market: Sales Value (in Million US$), 2018 & 2023
Figure 82: Middle East and Africa: Performance Appraisal and Management Software Market: Breakup by Country (in %), 2023
Figure 83: Middle East and Africa: Performance Appraisal and Management Software Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 84: Global: Performance Appraisal and Management Software Industry: Drivers, Restraints, and Opportunities
Figure 85: Global: Performance Appraisal and Management Software Industry: Value Chain Analysis
Figure 86: Global: Performance Appraisal and Management Software Industry: Porter's Five Forces Analysis
Table 1: Global: Performance Appraisal and Management Software Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Performance Appraisal and Management Software Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Performance Appraisal and Management Software Market Forecast: Breakup by Deployment Mode (in Million US$), 2024-2032
Table 4: Global: Performance Appraisal and Management Software Market Forecast: Breakup by Organization Size (in Million US$), 2024-2032
Table 5: Global: Performance Appraisal and Management Software Market Forecast: Breakup by Industry Vertical (in Million US$), 2024-2032
Table 6: Global: Performance Appraisal and Management Software Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Performance Appraisal and Management Software Market: Competitive Structure
Table 8: Global: Performance Appraisal and Management Software Market: Key Players
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