Dublin, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The "Performance Management Systems: Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
As companies prioritize performance management to address evolving business challenges, fully-configured PM systems are gaining traction, with small and mid-sized businesses representing a lucrative consumer segment.
The "Performance Management Systems: Global Strategic Business Report" highlights the ongoing changes in organizational structures, creating a strong business case for performance management systems. Large enterprises and multinational corporations are key end-users, while small and mid-sized businesses are also benefiting from PM technologies. Furthermore, the government sector is increasingly adopting PM systems to improve employee engagement and workplace interactions.
In-depth analytics are driving substantial interest in PM systems, with performance metrics playing a crucial role in enhancing analytics capabilities. The report also emphasizes the growing popularity of cloud-based Software as a Service (SaaS) models, while the on-premise PM systems market is experiencing a declining trend. Additionally, the demand for mobile-friendly PM technologies is rising, particularly as Bring Your Own Device (BYOD) policies gain momentum in the enterprise sector.
The report projects the global performance management systems market to reach a size of US$11.3 billion by 2030, growing at a CAGR of 12.9% over the analysis period 2022-2030. Cloud-based systems are expected to record a CAGR of 16.4% and reach US$7.5 billion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, the growth rate for the On-Premise segment is readjusted to an 8% CAGR for the next 8 years.
The report estimates the Performance Management Systems market in the U.S. at US$1.2 billion in 2022. China, the world's second-largest economy, is forecast to reach a projected market size of US$2.8 billion by 2030, with a CAGR of 18.4% from 2022 to 2030. Among other noteworthy markets are Japan and Canada, each expected to grow at approximately 7.7% and 10.9%, respectively, over the 2022-2030 period. Germany is projected to grow at approximately 9.4% CAGR within Europe.
The report features a list of 73 key competitors, including ActusT Software, ADP LLC, Cornerstone OnDemand Inc., Halogen Software Inc., IBM Corp., Jazz, Kronos, Lumesse, NetDimensions Ltd., Oracle Corporation, Peoplefluent, Saba Software Inc., SAP SuccessFactors, SAS Institute Inc., SumTotal Systems LLC, Talentsoft, Ultimate Software Group Inc., Workday Inc., and Zoho Corporation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 289 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $3.6 Billion |
| Forecasted Market Value (USD) by 2027 | $7.8 Billion |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Performance Management: An Introductory Prelude
- Recent Market Activity
- Expanding Role of Performance Management in HRM Builds Market Momentum
- Sustained Thrust towards Talent Management Generates Parallel Opportunities
- Inadequacies of Traditional PM Model Create Fertile Environment for PM Systems
- Key Benefits Offered Drive Adoption of PM Systems
- Align Business Objectives and Employee Goals
- Identify and Fix Gaps in Staff Training Programs
- Deal with Operational Inefficiencies Curtailing Workforce Performance
- Cost Reductions
- Positive Economic Scenario to Extend Growth Opportunities
- Global Market Outlook
- Developed Regions Remain Key Revenue Contributors
- Developing Markets: Hot Spots for Future Growth
- Performance Management Systems - Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
- ActusT Software (UK)
- ADP, LLC (USA)
- Cornerstone OnDemand, Inc. (USA)
- Halogen Software Inc. (Canada)
- IBM Corporation (USA)
- Jazz (USA)
- Kronos (USA)
- Lumesse (UK)
- NetDimensions Ltd. (Hong Kong)
- Oracle Corporation (USA)
- Peoplefluent (USA)
- Saba Software, Inc. (USA)
- SAP SuccessFactors (USA)
- SAS Institute, Inc. (USA)
- SumTotal Systems, LLC (USA)
- Talentsoft (France)
- Ultimate Software Group, Inc. (USA)
- Workday, Inc. (USA)
- Zoho Corporation (USA)
3. MARKET TRENDS & DRIVERS
- Enterprises Prioritize Performance Management amid Mounting Challenges in Business Operations
- Ongoing Changes in Organizational Structure Develop a Business Case for PM Systems
- Enterprises Focus on Fully-Configured PM Systems
- Large Enterprises & MNCs Constitute the Key End-Use Market
- Small- & Mid-Sized Businesses (SMBs): Lucrative Consumer Segment
- PM Technologies to Penetrate Vast Government Sector
- Improved Employee Engagement Made Possible by PM System
- Seamless Two-Sided Workplace Engagement
- PM System Enables Performance Improvement through Real-Time Feedback
- Automated Reporting Facilitates Seamless Employee Improvement Processes
- PM Technologies Aid in 360-Degree Reviews
- Performance Appraisal Made Easier with PM System
- Enterprises Leverage PM Systems for Targeted Employee Development
- PM Technologies Allow Product Quality & Customer Service Improvements
- In-Depth Analytics Generate Substantial Interest in PM Systems
- Performance Metrics Augment Analytics
- Cloud-based SaaS Model Fuels Market Momentum
- Declining Trend in On-Premise PM Systems Market
- Mobile-Compatibility: The Ongoing Trend
- Uptrend in Enterprise Mobility Instigates Demand for Mobile-Friendly PM Technologies
- BYOD Funnels Momentum in Enterprise Mobility
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/oofim0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
