About Employee Performance Software for Healthcare Sector
Each hospital wants to be on top in several terms including financial, quality of care, as well as latest technological developments. Around the globe, the main responsibility of hospitals is to confirm the effective treatment of patients and provide them with the finest quality care during their stay in hospitals. As health amenities are not in amount to the numbers demanding health care, there is pressure on incomplete human and infrastructural resources. This is a challenge faced by the health administration as well as health service managers. Even with these challenges, efforts are to be made to meet the demand through efficient performance management (PM) of hospitals. In clinics, performance management supports management in categorizing the area for performance improvements(KPIs), planning systematic performance development initiatives, setting targets, and incessantly tracking metrics.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 17.5% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Employee Performance Software for Healthcare Sector market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle (United States), Zenefits (United States), Ultimate Software (United States), Cornerstone OnDemand (United States), Impraise (Netherlands), Maus Software (Australia), Zoho Corporation Pvt. Ltd. (India), ClearCompany (United States), Trakstar (United States), Advance Change Ltd (United Kingdom) and Reviewsnap (United States). are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Employee Performance Software for Healthcare Sector market by Type (On-premise, Cloud-based and Web-based) and Region.
On the basis of Type, cloud based are dominating the market in the year 2023On the basis of geography, the market of Employee Performance Software for Healthcare Sector has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). North America region held largest market share in the year 2023. If we see Market by Organization Size, the sub-segment i.e. Small Business will boost the Employee Performance Software for Healthcare Sector market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Improved Quality Care and Rise in Need for Efficiency and Productivity of Employees
Market Growth Drivers:
Increasing Demand for Better Patient-Centric Care and Up surging Demand for Healthcare Accountability
Challenges:
The Technological Complexities regarding software
Restraints:
Increase Privacy and Security Concern
Opportunities:
Technological Advancements Associated with Employee Performance Software for Healthcare Sector and The Innovation in Healthcare Sector in Developing Countries
Market Leaders and their expansionary development strategies
In June 2021, Trakstar, the SaaS-based employee engagement, and performance management provider, announced that it’s integrating the company’s previously modular solutions into a single, unified Trakstar Platform. By combining the company’s three best-of-breed solutions, Trakstar is equipping its customers with a cloud-based platform that will unlock the flexibility and insights they need to make better, data-driven decisions at every stage of the employee lifecycle.
In January 2021, Cornerstone OnDemand, Inc announced it has acquired Clustree, a French technology company that developed an industry-leading, AI-powered skills engine and extensive skills ontology that is being used by leading global brands, including Carrefour and SNCF. With the acquisition of Clustree, Cornerstone will accelerate the development of the world’s largest skills engine to help organizations identify, develop and deploy their talent for the roles needed today and in the future. and In October 2020, ClearCompany, the premier talent management platform for talent acquisition, employee engagement, performance management, and planning and analytics, announced the new Employee Engagement Survey Suite release. This customizable Engagement Survey Suite enables clients to quickly execute employee feedback surveys and track results right from their ClearCompany Talent Management Platform.
Analyst View
The global market has knowledgeable remarkable growth in the previous years, due to rapid development in the adoption of employee performance software products for their contribution in the COVID war. The market will experience noteworthy growth in 2020, during the unpredicted COVID-19 pandemic, due to the rapid growth in the adoption of employee performance software. The market is anticipated to stay its trend even after the COVID-19 outbreak is under control. Our analysts have expected the condition of the employee performance software market during the COVID-19 outbreak, and have come to the below-mentioned inferences
Key Target Audience
Employee Performance Software for Healthcare Sector Providers, Software Developers, Government Regulatory Bodies, Private Research Organization, Government Research Organizations, Government Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.