Global OKR Software Market By Component (Solutions and Services), By Deployment Mode (On-premise and Cloud-based), By Organization Size (Small and Medium-sized Enterprises and Large Enterprises), By Mode of Industry Vertical (Retail and e-Commerce, Healthcare, IT & Telecom, Manufacturing and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2030
Report Code : BII927 Jan-2022 Information & Technology Format : PDF Pages : 217
Global OKR Software Market Overview
OKR software is a type of business performance management software that allows companies to optimize their overall operations process in areas like employee engagement, project management, and creating realistic company goals. Enterprises are successfully deploying these software solutions for managing and analyzing their operational performance in order to achieve their performance goals, improve company operational efficiency, and preserve transparency across business processes. The rise in demand for effective management of overall business operational goals is largely responsible for the expansion of OKR software. Employees will save time by using OKR software instead of manually entering data and updating daily tasks on an excel spreadsheet.
Different end-use industries, such as BFSI, Retail & Commerce, Healthcare, IT & Telecom, and Manufacturing, are expected to benefit from increased installation of cloud-based infrastructure and advanced analytical tools for harmonizing overall business operations. Furthermore, due to its numerous benefits, such as maintaining transparency in team management, resource management, and enterprise performance management, this software is rapidly gaining traction. Enterprises are increasingly focusing on deploying OKR software to improve organizational efficiency by simplifying various business processes, resulting in a growth in OKR Software's market share. With its growing demand in businesses, the software aids in enhancing, modernizing, and preserving transparency in corporate operations, and it can easily track staff efficiency, which is a big factor influencing the market.
Market Size
According to Business Intelligence Insights "Global OKR Software Market is expected to grow from USD 1,729.50 million in 2021 to USD 4,374.81 million by 2028, at a CAGR of 12.30% during the forecast period 2022-2030
Covid -19 Impact Analysis
The COVID-19 has had impacted the economies and industries in a number of countries, resulting in lockdowns, travel bans, and business closures. It has had an impact on every industry, including retail and e-commerce, healthcare, information technology and telecommunications, packaging, construction, banking, financial services, and insurance, among others. The impact on the OKR software market has been both positive and negative. Due to the imposed lockdown and travel ban, the shutting down of various plants and factories has had a negative impact on manufacturing, delivery schedules, and product sales in the global market. On the other hand, it has provided opportunities to a various startups, thereby driving the market growth.
Market Dynamics
• Drivers
o Demand for OKR solutions and services among small and medium sized enterprises in emerging economies is increasing
o Awareness of benefits of using ORK software increasing
• Restraints
o Market hampered by a lack of skilled workforce
Segmentation Insights
Solution category dominated the market with more than 60% of the market share
The Global OKR Software Market has been divided into two components: solutions and services. In 2021, solution held the largest market share. The target market has seen an increase in organizational inclination toward simplifying enterprise business processes, which is expected to fuel the growth of the product segment market over the forecast period.
Cloud-based category dominated the market with more than 55% of the market share
The market is divided into two segments based on deployment mode: on-premise and cloud-based. In 2021, cloud-based had the largest market share. Organizations can manage resources seamlessly using a single SaaS-based solution via desktop, tablet, or mobile by using cloud-based versions of OKR Software. Cloud-based solutions are expected to have the largest market share; these solutions provide organizations with a more secure way to store and transfer data. Cloud-based software can be accessed from any device with an internet connection. Because of the numerous advantages of cloud-based software, its market demand is increasing.
Key Players
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
Regional Insights
World map title will be here...
North America dominated the market with more than 35% of the market share
North America is likely to dominate the OKR software market. This is due to increased demand from many areas, including government and defense, aerospace and aviation, education and research, healthcare and pharmaceuticals, and so on. Furthermore, the market is predicted to develop due to an increase in the usage of cloud-based solutions in the region over the forecast period. Some other key factors driving market expansion include the existence of a large number of prominent vendors in the North American area and the growing requirement to automate company processes. Asia Pacific is expected to develop at the quickest rate during the forecast period Small and medium sized firms (SME's) are growing rapidly in Asia Pacific across a variety of end-use industries, including IT & Telecom, ITES and BPO, Manufacturing, and Retail. These businesses are continually focused on accomplishing their primary objective goals/targets for their business sales activities in a timely manner. As a result, these businesses are incorporating OKR software management solutions to streamline business operations in areas such as sales and marketing, customer service, finance, operations, and human resource management.
Table
Report Attributes |
Details |
|---|---|
| Market Size Value in 2021 | USD 1,729.50 million |
| Market Size Value in 2027 | USD 4,374.81 million |
| Growth Rate | +12.30% |
| Base Year | 2021 |
| Forecast Period | 2021-2030 |
| Historical Data | 2018-2020 |
| Forecast Units | (USD Million) |
| Countries Covered | North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE |
| Segments Covered | By Component, By Deployment Mode, By Organization Size, By Industry Vertical, By Region |