What is Goal Setting Software Market?
Goal Setting Software enables top management of the company to identify and set realistic scientific based sub goals for individuals or employees in sync with the broad organisational aspirations or ambitions. This also proves out to be a great way of driving workplace engagement. The goal setting software provides individuals with insights on skills to be improved and the progress made over the period of time. The growing demand by business to adopt a data driven approach to engage and retain top workers of the organisations has led to significant growth of the goal setting software market. North America and Europe are the two major markets of the goal setting software.
Highlights from Goal Setting Software Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ultimate Software Group, Inc. (United States), IBM Corporation (United States), SAP SE (Germany), Workday, Inc. (United States), Oracle Corporation (United States), Cornerstone OnDemand, Inc. (United States), Ceridian HCM, Inc. (United States), Symphony Talent LLC (United States), Saba Software, Inc. (United States) and Axiom software Solutions Limited (India) |
Goal Setting Software market is a fragmented market due to the presence of various players. The players are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Ultimate Software Group, Inc. (United States), IBM Corporation (United States), SAP SE (Germany), Workday, Inc. (United States), Oracle Corporation (United States), Cornerstone OnDemand, Inc. (United States), Ceridian HCM, Inc. (United States), Symphony Talent LLC (United States), Saba Software, Inc. (United States) and Axiom software Solutions Limited (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are ClearCompany (United States), Anaplan Inc. (United States) and Jedox GmbH (Germany). Goal Setting Software Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Personalised Goals, SMART Goals, Organisation Wide Strategic Goals and Others |
Type | On-Premise and Cloud-Based |
End Use | BFSI,Healthcare,IT and Telecom,Retail,Others |
Organisation Size | SMEs,Large Organisations |
Deployment | On Cloud,On Premise |
On the basis of geography, the market of Goal Setting Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Mobile Based Software Solutions are rising in Popularity
Market Growth Drivers:
Emergence of New Data Driven Management Approach and Rising Adoption of Digital Solutions by Businesses
Challenges:
Major Concern about Data Leak due to Rising Incidents of Cyber Attacks
Restraints:
Presence of Large Number of Players in the Market
Opportunities:
SMEs Segment is expected to Drive Major Growth in the Market
Key Target Audience
Goal Setting Software Developers and Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
Market Leaders & Development Strategies
In 2020, Betterworks, a United States based enterprise software provider specialised in continuous performance management solutions has announced acquisition of Hyphen, which is an innovative employee engagement platform. Every company's capacity to consistently collect actionable insights from its workforce and set goals to drive demonstrable improvements will be greatly enhanced with the use of comprehensive suite of Betterworks combined with Hyphen’s goal setting solutions.
In 2021, Clearlake Capital Group, L.P., a United States based private equity firm has announced acquisition of Cornerstone OnDemand, Inc., an American firm specialising in cloud based people development software services, with the signing of a definitive agreement to acquire. The acquisition valuation is around USD 5.2 billion. With the completion of the deal, Cornerstone would become a private company. Combined synergies of both the companies, would allow Cornerstone to accelerate its SaaS based HR solutions.