MARKET INTRODUCTION
Continuous performance management (CPM) is an integral part of human resource management (HRM). It helps in supervising the performance of employees with the help of software on a daily, weekly, or monthly basis. It also assists in assessing employee performance through real-time feedback, one-to-one discussions, and setting a productivity goal based on scheduled check-ins. Performance management practices drive around a 20% increase in engagement and retention of talent at various levels. Thus, it helps in boosting the adoption of CPM in SMEs, and large enterprises smoothen the process and help in overcoming numerous challenges. Therefore, the global continuous performance management software market is anticipated to have significant growth prospects during the forecast period.
MARKET DYNAMICS
The cloud segment is expected to witness significant growth in the continuous performance management software market as a result of innovative features such as lower cost, security, flexibility, and performance specific to the requirement of business solutions. Further, cloud-based technology requires lower capital investment in security and infrastructure and is likely to fuel the market growth at a faster pace in the coming years. For example, in June 2020, Nestle announced a partnership with SAP SE to implement SAP's SuccessFactors, continuous performance management (CPM) functionality, on mobile devices, and facilitate performance coaching and ongoing feedback for its employees. Thus, the company is authorizing a modern digital workforce by ensuring its global employees with access over a cloud-first, mobile-enabled, flexible HR platform to simplify, standardize, and unify the HR processes and data. The market players are following various inorganic marketing strategies for gaining a competitive edge, such as, in January 2019, Culture Amp acquired Zugata to reinvent its HR Software. Culture Amp Pty Ltd. offers employee feedback and analytics platform. Similarly, in June 2020, Reflective acquired Shape Analytics to embed analytical data reporting capabilities of Shape into its platform, Reflektive.
MARKET SCOPE
The "Global Continuous Performance Management Software Market Analysis to 2028" is a specialized and in-depth study of the technology media and telecommunication industry with a special focus on the global market trend analysis. The continuous performance management software market report aims to provide an overview of the continuous performance management software market with detailed market segmentation by type, application, industry vertical, and geography. The global continuous performance management software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading continuous performance management software market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global continuous performance management software market is segmented on the basis of type, application, and industry vertical. Based on type, the continuous performance management software market is segmented into: Cloud, and On-premise. On the basis of application, the market is segmented into: SME, and Large enterprise. Based on industry vertical, the market is segmented into: BFSI, IT and Telecommunications, Healthcare, Manufacturing, and Others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global continuous performance management software market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The continuous performance management software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the continuous performance management software market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the continuous performance management software in these regions.
MARKET PLAYERS
The reports cover key developments in the continuous performance management software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from continuous performance management software market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the continuous performance management software market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the continuous performance management software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- 15Five
- 7Geese
- BetterWorks
- Clear Review
- Culture Amp Pty Ltd
- Reflektive
- SAP SE
- SnapEval, LLC
- TINYpulse
- Workboard Inc
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.