Report Code: A03571 | Nov 2023 | Pages: NA | ||
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Request Now !Performance appraisal and management software is an application which helps in assessment of performance and appraisal management. The analysis of employees abilities and skills is a prime advantage of performance appraisal and management software. The total dependability on software for performance appraisal and management is one of the major disadvantages of the software. The software is required to maintain the need of retention of efficient workforce and talent.
Rise in need of simplified, effective, and unbiased performance appraisal system and process by the organizations majorly drives the performance appraisal and management software market. However, privacy and security of the data related to the employees are prime concerns in the adoption of the software. Further, the need for replacement of the old and traditional systems makes way for growth opportunities for the market.
The successful implementation of the performance appraisal and management software within the organization with scalable results is the prime challenge for the market growth.
The market is highly dominated by key players such as Oracle Corporation, Saba Software Inc., and SuccessFactors Inc. and is fragmented owing to presence of the diversified players in the market. The vendors compete on the basis of price owing to low degree of variation in the product. The Oracle Corporation acquired Moat Inc. to create a cloud-based performance appraisal and management software on April 2017, which is anticipated to boost its market share in the performance appraisal and management software market.
The market is segmented by organization size, industry vertical, and region. By organization size, it is divided into large and small & medium. Based on industry vertical, it is classified into banking, financial, and insurance (BFSI); aerospace & defense; healthcare; public sector; IT & telecom; retail; and others. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive analysis and profiles of the major market players profiled in the report include Oracle Corporation, Saba Software Inc., SuccessFactors, Inc., SumTotal Systems, LLC., The Ultimate Software Group, Inc., Actus Co., Ltd., BambooHR LLC., Cornerstone OnDemand Inc., Hirezon Corporation., and Insperity Holdings, Inc.
Key Benefits
Performance Appraisal and Management Software Market Report Highlights
Aspects | Details |
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By Deployment Mode |
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By Organization Size |
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By Industry Verticals |
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By Region |
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Key Market Players | Workday, Inc., Lattice, BMC Software, Inc., Reflektive, Heartpace, Kronos Incorporated, 15Five, UKG Inc., UPRAiZAL, Inc., Paradiso Solutions |
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