Global Employee Engagement and Feedback Software Market – Industry Trends and Forecast to 2030

Employee Engagement and Feedback Software Market Analysis and Size

The global employee engagement and feedback software market has been experiencing significant growth in recent years. Several factors contribute to this growth, including the increasing recognition of the importance of employee engagement for organizational success, the rise of remote and distributed workforces, and the availability of advanced technology solutions.

Data Bridge Market Research analyses that the global employee engagement and feedback software market which was USD 1,100 million in 2022, would rocket up to USD 2,500 million by 2030, and is expected to undergo a CAGR of 13% during the forecast period. “Development type” segment is expected to dominate the market because the use of software majorly depends on its deployment it provides.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Employee Engagement and Feedback Software Market Scope and Segmentation

Market Definition

Employee engagement software helps organizations ask for, monitor, and manage employee feedback. In addition, such a system enables businesses to recognize employee success, support positive initiatives, comprehend employee attitude, and gain valuable insights from employee feedback. The company's human resources department implements employee engagement software as a replacement for traditional processes or as an additional tool.

Global Employee Engagement and Feedback Software Market Dynamics

Drivers

• Numerous Benefits offered by the Solutions

The employee engagement and feedback software solutions showcases a number of highlights such as tracking the employees’ overall performance to improve the productivity and ensure security. Other key features such as monitoring keystroke logging, smart rules and alerts, live views, access chats and file transfer tracking are some other factors promoting their adoption rate globally. Effective feedbacks can also be provided using employee monitoring solutions.

• Increased focus on Achieving Organizational Efficiency  

The rising number of small and medium scale enterprises, especially in the developing economies, is directly promoting the market's growth rate. Moreover, increased focus of all scales of organizations towards improving the organizational efficiency by improving the employee retention rate and employee performance quotient will bolster the market's growth rate in the upward direction.

Furthermore, the factors such as rising urbanization, industrialization and mounting usage of employee monitoring solutions by businesses in the retail industry have further contributed to the overall market expansion during the forecast period. Additionally, growing awareness about the user friendly interface of these solutions in combination with rising number of developers in the market are anticipated to drive the market's growth rate.

Opportunities

• Rising Privacy and Security Concerns

Growing number of data thefts, malware practices, cyber breaches and vulnerability to trade secrets, intellectual property and employee personal data is fostering the adoption rate of employee monitoring solutions. Surging the adoption rate of centralized solutions towards cyber threats and breaches will carve the way for the market's growth.

• Increasing trend of Digitalization

In addition, the increasing trend of digitalization further offers numerous growth opportunities within the market. The growing trend of work from home and remote jobs, especially in the developed and developing economies, will consequently fuel the adoption rate and the market growth rate.

Restraints/Challenges

• High Overall Cost

High innovation, adoption and deployment costs will challenge the market's growth rate. Budgetary restraints, especially in small and medium scale enterprises, will develop doubts among the management regarding the adoption, thereby impeding the market growth rate. Moreover, developing comprehensive security solutions requires a good investment, which may obstruct the market growth rate.

• Lack of Technical Expertise

Dearth of expert knowledge and technical expertise especially in the developed and developing economies will create hurdles for the market in regards to the smooth growth in the market value. Further, lack of skilled professionals combined with low experience quotient will hamper the market growth rate.

Recent Development

• A reputable business called "Keeper Security Inc." announced the introduction of its staff monitoring programme, dubbed "round-the-clock dark web surveillance," in July 2019. This solution will assist businesses in protecting their staff members from online threats. Businesses benefit from the software's ability to monitor employee internet usage and searches.

Global Employee Engagement and Feedback Software Market Scope

The global employee engagement and feedback software market is segmented on the basis of deployment, organization size, delivery mode, offering and device. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Deployment

• On Cloud
• On Premise

Organization Size

• Small and Medium Enterprises
• Large Enterprises

Delivery Mode

• Standalone
• Integrated

Offering

• Turnkey
• Customized

Device

• Desktop
• Handheld

Global Employee Engagement and Feedback Software Market Regional Analysis/Insights

The global employee engagement and feedback software market is analyzed and market size insights and trends are provided by deployment, organization size, delivery mode, offering and device as referenced above.

The countries covered in the global employee engagement and feedback software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America..

North America is expected to dominate the global employee engagement and feedback software market because the U.S. has a strong reputation for technological innovation and advancement. North American companies often invest heavily in research and development, leading to the creation of cutting-edge employee engagement and feedback software technologies. These advancements can give them a competitive edge in the market. This combination of factors positions the U.S. as a dominant player in the global employee engagement and feedback software market.  

The Asia Pacific region is the fastest growing market for global employee engagement and feedback software activities. This is due to the increasing demand for employee engagement and feedback software in the region's growing industries. Countries such as China, India, and South Korea are leading the growth of the global employee engagement and feedback software market

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Employee Engagement and Feedback Software Market Share Analysis

The global employee engagement and feedback software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to employee engagement and feedback software market.

Some of the major players operating in the global employee engagement and feedback software market are:

• InterGuard (U.S.)
• WorkForce Software, LLC, (U.S)
• Workday, Inc, (U.S)
• Verint Systems Inc., (U.S.)
• Rapid7 (U.S.)
• Forcepoint (U.S.)
• Securonix (U.S.)
• ObserveIT (U.S.)
• Imperva (U.S.)
• Teramind Inc. (U.S.)
• Veriato Inc. (U.S.)
• Humu, Inc. (U.S.)
• EightSpokes, Inc. (U.S.)
• 15Five (U.S.)
• Culture Amp Pty Ltd. (U.S.)
• TINYpulse (U.S.)
• Weekdone (Estonia)
• Impraise (Netherlands)
• Achievers Solutions Inc. (U.S.)

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