The global 360 Degree feedback software market is set to gain traction from the rising need to determine the level of employee engagement. As per the State of the Global Workplace report, if employees are unsatisfied or unhappy at the workplace, 85% of them are not actively engaged at work. This information is published by Fortune Business Insights™ in a new report, titled, “360 Degree Feedback Software Market Share, Size & COVID-19 Impact Analysis, By Type (Installed, Web-Based), By Application (Education, Retail, Corporate, Travel and Hospitality, Healthcare), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 680.3 million in 2019 and is projected to reach USD 1,465.6 million by 2027, exhibiting a CAGR of 10.1% during the forecast period.
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COVID-19 Pandemic: Rising Remote Working Practice to Affect Growth Positively
The COVID-19 pandemic has compelled numerous organizations to halt their operations. It has also pushed them to limit their budget, as well as made it a compulsion for their employees to work from home. The sudden transformation in business operations has made it necessary for organizations to keep their employees active and engaged. This factor is likely to aid growth in 2020. Our authentic research reports will help clients to better understand the current scenario of the global market. They can choose the right strategy to battle the pandemic.
Reasons to Purchase this Report:
- Comprehensive analysis of the 360 Degree feedback software market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies 360 Degree feedback software market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
A list of all the renowned 360 Degree feedback software providers operating in the global market:
- PeopleGoal, Inc. (England, United Kingdom)
- Mettl Online Assessment (Haryana, India)
- Saba Software (California, United States)
- Salesforce (California, United States)
- TALENTGUARD (Austin, United States)
- Appraisal360 (Texas, United States)
- AssessTEAM, LLP (Massachusetts, United States)
- STAR 360 Feedback (Springville, Utah)
- Trakstar (Seattle, United States)
- Synergita (Chennai, India)
- CustomInsight (Nevada, United States)
- SurveyMonkey (California, United States)
- Reviewsnap (Seattle, United States)
- Impraise (New York, United States)
- Saigun Technologies Pvt. Ltd (Delhi, India)
- click-360 (Perth, Australia)
Drivers & Restraints-
Ability to Track Performance of Employees to Augment Growth
The 360 Degree feedback software solution offers more value to employees by keeping up with the current dynamic business models. It also helps in collecting feedback from several people instead of only one senior person. Hence, it reduces the possibilities of gaining information about only one individual. Its open communication feature enables the management to track the performance of employees. Their behaviors, skills, and attitudes can also be understood through this software. These factors are expected to propel the 360 Degree feedback software market growth in the near future. However, 360-degree feedback software may harm the evaluated employee morale as it allows evaluators to express their opinions freely. It may hamper growth.
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Table Of Content 360 Degree feedback software Market Report
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2 Key Takeaways
3 360 Degree feedback software market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
3.3.1. Short-term Impact
3.3.2. Long-term Impact
4 Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. PESTLE Analysis
4.4. Porter’s Five Force Analysis
4.5. Supply chain Analysis
5 Global 360-Degree Feedback Software Key Players Market Share Insights and Analysis, 2019
6 Key 360 Degree feedback software market Insights and Strategic Recommendations
7 Primary Interviewee’s Key Responses
8 Companies Profiled (Covered for key 10 players only)
8.1.1. Key Management
8.1.2. Headquarters etc
8.2. Offerings/Business Segments
8.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
8.3.1. Employee Size
8.3.2. Key Financials
220.127.116.11. Past and Current Revenue
18.104.22.168. Gross Margin
22.214.171.124. Geographical Share
126.96.36.199. Business Segment Share
8.4. Recent Developments
Key Players Focus on Launching Innovative Software to Attract More Customers
The market for 360 Degree feedback software houses multiple prominent companies that are mainly focusing on attracting new customers. Some of them are also trying to convert free users to paid ones. To do so, they are aiming to launch technologically advanced 360 Degree feedback software solutions. Below are the two latest industry developments:
- October 2020: SurveyMonkey unveiled a new platform named GetFeedback to aid B2B organizations provide high-value customer experiences. It would also help in nurturing customer relationships and adapting to customer needs.
- July 2020: Grapevine Evaluations introduced its new 360 degree employee evaluation software for HR firms and consultants. It is highly customizable and can be fully branded with their logo. It will help to meet the specific employee assessment needs of organizations.
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