OKR Software Market Analysis | Coherent Market Insights

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2. OKR SOFTWARE MARKET ANALYSIS • OKR Software Market Report, by Component Type (Solutions and Services), by Enterprises Type (SMEs and Large Enterprises), by Deployment Type (On-premises and Cloud-based), by Verticals (BFSI, Retail and Ecommerce, Healthcare, IT& Telecom, Manufacturing, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

3. Market Opportunities: • Global OKR Software Market is expected to witness significant growth during the forecast period (2018–2026). The market growth of OKR software is majorly attributed to rising demand for effectively managing the overall business operational goals. The implementation OKR software will help to save employees time wasted on maintaining manual data entry and up-gradation of their daily tasks in excel spreadsheet. Furthermore, these software also help businesses to visualize and align their goals, flexibility in goal revision, easy accessibility, and maintaining transparency & discipline among employees regarding their tasks.

4. Figure 1. Global OKR Software Market Share (%), by Region (2017 & 2026)

5. Increasing demand for the cloud-based enterprise performance management tools is expected to aid in growth of the OKR software market Increasing implementation of cloud-based infrastructure and advanced analytical tools for aligning overall business operations is anticipated to offer lucrative growth opportunities for different end-use industries including BFSI, Retail & eCommerce, Healthcare, IT & Telecom, and Manufacturing, among others. Moreover, adoption of this software is growing significantly, owing to its several benefits such as maintaining transparency in team management, resource management, and enterprise performance management. For instance, Zenefits offers cloud-based human resource information system to their clients including Fireclay Tile, League Network, and EnviroSMART. These enterprises have implemented cloud-based software for streamlining enterprise business operations, owing to its unique features, which includes user dashboards, core human resource management, and administration activity management that helps HR department to modernize their frantic employee on-boarding process.

6. As per Coherent Market Insights, in 2017, OKR software is anticipated to increase at a rapid pace over the forecast period. This increasing growth is attributed to increasing need for keeping transparency in business strategies and objective. This is another key factor expected to aid in growth of the OKR software market. This software improves business operational efficiencies by automating various business routine tasks, setting timely objectives, and maintain transparency employee’s performance score on the basis of their respective task.

7. Statistics:Figure 2. Global OKR Software Market Share (%), By Enterprise Type (2017 & 2026)

8. Market Drivers: • North America is anticipated to hold the largest market share in the OKR software market, while Asia pacific is expected to witness fastest growth over the forecast period. The presence of large number of prominent vendors in North America region and increasing need to automate business processes are some of the key factors driving the market growth. In Asia pacific, the highest growth can be attributed to various factors which include rapid digitalization, economic developments, adoption of advanced technologies, and heavy investment by technology service providers. • Increasing demand for OKR solutions and services among small and medium sized enterprises in emerging economies of Asia Pacific region In Asia pacific, there is a significant increase in growth of small and medium sized enterprises (SME’s) among various end-use industries, which include IT & Telecom, ITES and BPO, Manufacturing, and Retail. These enterprises are constantly focused on timely meeting their key objective goals/targets of their business sales operations. So, these enterprises are integrating OKR software management tools to streamline over business operation in various fields including sales & marketing, customer support, finance, operations, and human resource management.

9. Competitive Section • Some of the key players operating in the global OKR software market include Wrike, Inc., Peoplefluent, Aha! Labs, Trakstar, Workteam, BirdDogHR, Betterworks, Javelo, Quantum Workplace, Qilo Technologies, and Perdoo GmBH, among others.

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