Global OKR Software Market Expected to Reach $4,374.81 Million by 2028 | Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-01-28  

     

Market Scope of OKR Software Market

The Global OKR Software market was valued USD 1,729.50 million in 2021 and is predicted to increase at a CAGR of 12.30% to USD 4,374.81 million by 2028. Businesses are increasingly focusing on implementing this software to improve efficiency by streamlining key business operational duties like HR operations management, workforce planning, and supply chain performance (SCP) management. OKR software is used to align personnel with business goals and examine the core causes of the company's efficient performance. The programme also aids in preserving target transparency between management and staff, as well as tracking employee productivity on a regular basis. Furthermore, rising need for real-time data analysis is likely to propel the OKR software market forward. As a result, over the forecast period, all of these factors are likely to boost the aims and key outcomes software market.

Increased IT investment is expected to create lucrative opportunities for OKR software vendors worldwide. Furthermore, the increased adoption of such software in medium- and small-sized businesses is expected to create significant opportunities for key players in the coming years. However, the cost of implementing OKR software limits market growth. Furthermore, cyber security is a major concern for vendors when implementing this software. Data security issues are expected to stymie the market during the forecast period. Due to its increasing importance in organisations, software that can easily track employee efficiency is a major factor influencing the market. OKRs are useful tools for developing and evaluating goals, but they can be dangerous in the hands of inexperienced users. When used correctly, they can improve focus and boost outcomes, but when used incorrectly, they can increase waste and cause significant harm to the organisations that use them. This could stifle market growth over the forecast period.

Key Highlights of the Report

  • OKR Software Market can be segmented into Large Enterprises and SMEs based on Organization Size. In 2021, Large Enterprises held the largest market share of 75.32 percent. The large enterprise segment is expected to have a larger market share due to the need to launch digital collaboration within large distributed teams and control overseas businesses through timely updates.
  • The Global OKR Software Market has been classified into five industry verticals: IT & Telecom, Retail & E-commerce, Manufacturing, Healthcare, and Others. During the forecast period, IT & Telecom held the largest market share in 2021. IT and telecom companies have widely used OKR Software to successfully manage their projects and business operations. The OKR Software facilitates more effective teamwork and interaction, resulting in a successful project.
  • The OKR software market is projected to be dominated by North America. This is owing to rising demand in a variety of sectors, including government and defense, aerospace and aviation, education and research, healthcare and pharmaceuticals, and so on. Furthermore, throughout the projected period, the market is expected to grow due to an increase in the use of cloud-based solutions in the region. Another important element driving market growth is the presence of a significant number of well-known vendors in the North American region, as well as the growing need to automate business activities. During the projected period, Asia Pacific is expected to grow at the fastest rate. SME's are quickly expanding in Asia Pacific across a wide range of end-use industries, including IT and Telecom, ITES and BPO, Manufacturing, and Retail.
  • The report contains qualitative and quantitative research on the global ORK software Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

List of Key Players in the Global OKR Software Market:

  • Wrike, Inc.
  • Peoplefluent
  • Aha! Labs
  • Trakstar
  • Workteam
  • BirdDogHR
  • Betterworks
  • Javelo
  • Quantum Workplace
  • Qilo Technologies
  • Perdoo GmBH

Segmentation

By Component

  • Solutions
  • Services

By Deployment Mode

  • On-premise
  • Cloud-based

By Organisation Size

  • Small and Medium-sized Enterprises
  • Large Enterprises

By Industry Vertical

  • Retail and e-Commerce
  • Healthcare
  • IT & Telecom
  • Manufacturing
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • UAE
    • South Africa
    • Rest of Middle East and Africa (MEA)


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