Expert Market Research’s new report titled ‘Global 360 Degree Feedback Software Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027′, provides an in-depth analysis of the global 360 Degree Feedback Software Market. 360 degree feedback, assess the market based on its segments such as types, applications, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 9.84%
The sudden transformation of business operations towards digital work has required organizations to keep their employees active and engaged. This factor is likely to contribute to the growth of the market. By keeping up with today’s dynamic business models, the 360 degree feedback software solution delivers additional value to employees. It also makes it easier to get feedback from a variety of people rather than just one senior employee. As a result, the chances of obtaining information about a single person are reduced. Its open communication feature allows management to track employee performance. This program can also be used to understand their actions, talents and attitudes. These factors are expected to drive the 360 degree feedback software market in the near future. 360 degree feedback software allows HR management and employees to receive multiple feedback from supervisors, peers, subordinates, customers and suppliers. It also generates a detailed report of employee behavior and helps participants increase their self-awareness.
Industry definition and major segments
360-degree feedback software allows employees to voice their opinions, thoughts, and comments in real time, empowering companies to take accountability across all areas and touchpoints. It also helps to capture employee sentiments in unique situations such as management reorganization, management change, and corporate changes such as mergers. The information collected makes it possible to quickly assess the level of engagement or disengagement of an employee at work.
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By Type, the market is split into:
The industry is further divided on the basis of application:
• Travel and Hospitality
Based on region, the industry is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The growing use of 360 degree feedback software globally in many applications, such as performance appraisal in corporate sectors, training organizations and performance appraisals, as well as the growing need for retain employees, improve the performance of organizations and evaluate the work of employees, accelerate growth. of the market. These software solutions are widely used by successful merchants to retain current consumers and attract new ones. They collect a lot of information about how customers buy things. As a result, they can give personalized suggestions and services across all touchpoints and channels. The demand for web-based 360 degree feedback software has increased due to cloud-based solutions. Moreover, its popularity is increased among small and medium-sized businesses due to its easy and direct access to the Internet and its affordable price. This is expected to propel the growth of the 360 degree feedback software market.
Main market players
The major market players are Qualtrics International Inc., PeopleGoal, Inc., Mercer LLC, Synergita Software Private Limited, TalentGuard, Salesforce.com, inc. and Momentive Inc., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.