Posted By Coherent Market Insights
Posted on September 14, 2021
United States/WA: The global OKR software market was valued at US$ 555.1 million in 2017 and is expected to increase to US$ 1,592.3 million by 2026, registering a CAGR of 14.10% over the forecast period from 2018 to 2026.
Report Pages:[122 Pages]
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.
Market Overview:
OKR Software (objectives and key results) is a powerful program that helps to specify and develop goals for the team and individual projects and then enables to monitor the progress of the project, motivate the team, and form alignments on measurable Key Results. Objectives and Key Results have several applications and can be easily used in any discipline, including human resources, customer services, manufacturing, finance, technology, health care, and marketing. OKR Software can also be used to manage projects from the CEO’s perspective. OKR contains both structured and unstructured content, which makes it easy to change it as companies grow. It comes with powerful features such as resource planning, forecasting, events calendars, project tracking, assignment management, quality management, analysis tools, project execution, project cost management, process mapping, resource prospecting, workflow automation, quality assurance, and workflow automation.
Competitive Landscape:
Major players operating in the global OKR software market include Wrike, Inc., Workteam, Quantum Workplace, Gtmhub, Qilo Technologies, PeopleFluent, Khorus, Javelo, BirdDogHR, Betterworks, and Aha! Labs.
Key Market Drivers:
The increasing prevalence of small and medium-size enterprises (SME) is the main factor that is augmenting the growth of the global OKR software market. For instance, according to Global NAPs Networks, Inc., there are around 400 million SMEs in the world that are serving as the backbone of the global economy. Moreover, increasing investments in IT and software technology, along with new product and service launches are accelerating the growth of the global OKR software market.
Covid-19 Impact Analysis:
The COVID-19 pandemic had a very long-lasting effect on the global software and technology sector, owing to the increasing number of COVID positive cases in the world. For instance, according to Worldometers, there have been more than 217,938,956 COVID-positive cases in the world.
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Key Takeaways:
- The size of the global OKR software market in 2019 was estimated at around US$ 695.93 million and at a CAGR of 13.73% is projected to reach around US$ 1946.88 million by 2027, owing to increasing investments in the technology sector in the world. For instance, according to the International Legal Technology Association, in 2018 the total tech spending in the world was around US$ 3212 billion.
- North America is expected to hold a major share of the global OKR software market, owing to the increasing prevalence of big businesses in the region, along with high investments in the technology sector. For instance, according to GoRemotely, the U.S. tech industry market is worth approximately US$ 1.6 trillion and is expected to reach around US$ 5 trillion by the end of 2021.
- The Asia Pacific is estimated to witness high growth in the global OKR software market, owing to the increasing expansion of SMEs in the developing region. For instance, according to Evoma Business Centre, the total number of SMEs in India is estimated to be around 42.50 million, including registered and unregistered businesses.
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The post [PDF] Global OKR Software Market Continues To Grow Owing To the Increasing Usage of These Software Systems in the Small and Medium Enterprises appeared first on Gatorledger.
