Nov 10, 2019 (Market Insight Reports via COMTEX) -- The report studies the Performance Appraisal Software market , Performance Appraisal Software, always mentioned with Performance management software, helps organizations establish employee performance standards and enables managers to evaluate employees job performance in relation to these standards. Performance management systems are used to manage employee progress, performance, and development in relation to organizational goals. Companies use performance management software to facilitate meaningful and ongoing discussions between managers and direct reports.
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Top Companies in the Global Performance Appraisal Software Market: Oracle, Saba, SAP, SumTotal Systems, Ultimate Software, Cornerstone OnDemand, Performly, Impraise, MAUS, BambooHR, Namely, Zoho Corporation, BreatheHR, Trakstar, ClearCompany, Actus, Insperity, Reviewsnap, PeopleGoal, Beisen Others
Market Segmentation by Types:
Market Segmentation by Applications:
United States is the largest consumption countries of Performance Appraisal Software in the world in the past few years and it will keep leader position in the next few years. United States market took up about 59.42% the global market in 2017, while Europe was about 17.58%.
USA is now the key developers of Performance Appraisal Software; most companies are in USA. Others are in Europe, China and India.
In 2017, the global Performance Appraisal Software market size was 1150 million US$ and it is expected to reach 4140 million US$ by the end of 2025, with a CAGR of 17.4% during 2018-2025. Top of Form
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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.
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Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.