The Japan Employee Engagement and Feedback Software market held a market value of USD 59 Million in 2020 and is forecasted to reach USD 108 Million b
The Japan Employee Engagement and Feedback Software market held a market value of USD 59 Million in 2020 and is forecasted to reach USD 108 Million by the year 2027. The market is expected to witness a CAGR of 9.1% over the projected period.
Employee engagement software is used by various companies for maintaining the productivity and employee morale. Employee feedback software is used for providing actionable insights for transforming business and to improve productivity, for employee retention, and managing business performance. The market is anticipated to be driven by factors such as the increasing in the number of organizations and implementation of advance technologies & adoption of smart phones.
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Despite these driving factors, the low awareness level of benefits and high capital investment for integration of employee engagement software are estimated to negatively hamper market growth. Furthermore, high cost of adaption of new technologies is estimated to negatively impact the market growth.
Implementation of advance technologies and adoption of smart phone
The adoption of smart phones is increasing at workplaces for managing various work-related activities which is also increasing the implementation of advance technologies at these places. This adoption is especially increasing because the desktop-based systems come with a lot of manual maintenance, which becomes time consuming as well as expensive. On the other hand, devices like smart phones are time saving and also help in improving employee competence.
The Japan Employee Engagement and Feedback Software market is segmented into delivery, deployment, offering, content, platform, and enterprise size.
The integrated segment is anticipated to witness the fastest growth rate of around 9.8% owing to the increasing adoption of integrated software in many companies. The standalone segment is also likely to witness significant growth.
The cloud segment is expected to hold the largest market share owing to the easy usage of cloud-based software. It also allows the higher authorities of any organization for remote access of the software. Furthermore, during the COVID-19 pandemic, cloud-based software was increasingly being used owing to the work from home situation.
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The customized segment is estimated to hold the dominant share of the market owing to the high demand for customized employee engagement and feedback software, as per the requirements of individual companies.
- Action Planning
The workflow segment held the largest market share due to availability of many product offerings related to the segment. The automation is anticipated to grow at the fastest rate due to its rising usage by managers, businesses, and HR professionals for employee engagement purposes and for detection & prevention of employee dissatisfaction.
The desktop segment is estimated to surpass a market value of USD 52.3 million by 2024 owing to rising technological advancements in the sector. The mobile segment is also expected to witness considerable growth owing to rising adoption of smart phones.
By Enterprise Size
- Small Enterprise
- Medium Enterprise
- Large Enterprise
The small enterprise segment is expected to grow at the fastest rate during the forecast period owing to the rapidly increasing adoption of employee engagement and feedback software by these companies for boosting innovation amongst employees. The large and medium enterprises are also estimated to witness significant growth rates.
Key players operating in the Japan Employee Engagement and Feedback Software market include 15 Five, Achievers, BAM Creative, Bitrix24, Culture Amp, Hyphen, Impraise, KaiNexus, Motivosity, Officevibe, Qualtrics, Quantum Workplace, Reflektive, Saba Software, Synergita, Teamphoria, Technology Advice, Tiny Pulse, Transcend, Vocoli, Weekdone, Zinda, and other prominent players.
The major 21 players in the market are expected to hold around 74% share of the market. These market players are engaged in mergers & acquisitions, collaborations, and new product launches to strengthen their market presence. For instance, in August 2021, Qualtrics and Mercer, an asset management and HR consulting firm partnered for assisting major brands to understand employee preferences and attitudes for developing more impactful benefits programs and employee experience. This partnership strengthened their position in the market.
The Japan Employee Engagement and Feedback Software market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Japan Employee Engagement and Feedback Software market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The Japan Employee Engagement and Feedback Software market report answers questions such as:
- What is the market size and forecast of the Japan Employee Engagement and Feedback Software Market?
- What are the inhibiting factors and impact of COVID-19 on the Japan Employee Engagement and Feedback Software Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Japan Employee Engagement and Feedback Software Market?
- What is the competitive strategic window for opportunities in the Japan Employee Engagement and Feedback Software Market?
- What are the technology trends and regulatory frameworks in the Japan Employee Engagement and Feedback Software Market?
- What is the market share of the leading players in the Japan Employee Engagement and Feedback Software Market?
- What modes and strategic moves are considered favorable for entering the Japan Employee Engagement and Feedback Software Market?
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