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360 Degree Feedback Software Market
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360 Degree Feedback Software Market Share, Growth, and Forecast 2023-2028

The "360 Degree Feedback Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," report by IMARC Group offers a detailed analysis of the industry, including market share, size, trends, and growth forecasts. The 360 degree feedback software market report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the 360 Degree Feedback Software Market?

The global 360 degree feedback software market size reached US$ 907.74 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,623.09 Million by 2028, exhibiting a growth rate (CAGR) of 9.70% during 2023-2028.

What is 360 Degree Feedback Software?

360 degree feedback software is a reliable, web-based tool that comprehensively assesses an employee's performance, capabilities, and behaviors. It offers an effective feedback system that provides insights into numerous aspects, such as team collaboration, involvement, and communication. Additionally, it helps employees to modify their performance and interpersonal skills in line with the organization's objectives. It involves collecting feedback from various sources, including peers, subordinates, supervisors, customers, and self-evaluation. Once the feedback is collated, analyzed, and presented in a report, it gives an overview of the employee's strengths, weaknesses, and areas of improvement. This helps organizations identify areas where employees may need further training and development to improve their skills and boost their overall performance.

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What are the Growth Prospects and Trends in the 360 Degree Feedback Software Market?

The rapid adoption of automation majorly drives the global market. This can be supported by the growing adoption of digital technology and artificial intelligence (AI) in various industrial operations to reduce manual labor and maximize efficiency. Along with this, the growing focus on employee well-being and the rising demand to evaluate worker performance and behavior to enhance their skills and knowledge is significantly supporting the market. In addition, the widespread adoption of remote working models and the growing workforce diversity is fuelling the need for 360 degree feedback software to allow managers to effectively evaluate employees from different backgrounds and cultures, is positively impacting the demand. Furthermore, the rising trend of performance-based pay among organizations and the need to boost employee engagement to enhance productivity and job satisfaction and reduce turnover rates are creating a positive market outlook. Some of the other factors driving the market include rapid digitization and continual technological advancements.

Who are the key Players Operating in the Industry?

  • Cornerstone OnDemand Inc.
  • CustomInsight
  • Mercer LLC (Marsh & McLennan Companies, Inc.)
  • Momentive Global Inc.
  • Performly
  • Qualtrics International Inc.
  • Salesforce Inc.
  • STAR 360 Feedback
  • SVI
  • LLC
  • Synergita Software Private Limited (Aspire Systems Group)
  • Talentguard Inc.

What is included in Market Segmentation?

The report has segmented the market into the following categories:

Type Insights:

  • Installed
  • Web-based

Application Insights:

  • Corporate
  • Education
  • Retail
  • Healthcare
  • Travel and Hospitality
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance 
  • Market Outlook
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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