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.
- This report is an extensive analysis of the current and potential market trends.
- The report contains in depth quantitative analysis of current and future market estimations through 20162023, which helps recognize the growth opportunities.
- Extensive analysis of the market helps understand the current practices for the better investment decisions.
- Key market players are profiled and their strategies are analyzed thoroughly, which helps understand competitive outlook of the market.
- Extensive analysis of the market is conducted by monitoring the top competitors within the framework.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Performance Appraisal And Management Software Market Key Segments:
By Organization Size
- Small and Medium Scale
- Large Scale
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East