360 Degree Feedback Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of 360 Degree Feedback Software Market
The 360 Degree Feedback Software Market size was valued at USD 1 billion in 2023, and the market is now projected to grow from USD 1.11 billion in 2024 to USD 2.59 billion by 2032, exhibiting a CAGR of 11.2% during the forecast period of 2024-2032.
The COVID-19 have created a disruption on everyone’s life, be it people or organisation, everyone had to reassess their activities and goals. To overcome this challenge world has shifted its attention to the advancements in technology and innovation, thus 360 Degree Feedback Software Market growth. Companies have started to dedicate their time and resources for the development of comprehensive 360-degree feedback software platforms, promoting, selling, and providing support for these systems. During 2020 the market competition was at its peak and revenues were steady and rising annually, while the growth rate remained stable. Pandemic has created a opportunity for the software expansion and its market growth.
To visualize employees’ alignment with dynamic business models, companies are preferring agile performance management tools and approaches. It is adding value to their organisation, by gathering feedback from not just one senior but from different resources, helping to minimise the biases that might be possible with one person review. With 360 degree software, it is now easy to communicate about the performance, with feedbacks. This detailed feedback method is helping the employees to understand how others take their skills, attitudes, and behaviour at work. As a result it is easy for the organisation to identify strengths, weakness, and areas for improvement, so that they can make decisions about the training needs and develop strategies for professional growth, eventually driving growth in the 360 Degree Feedback Software Market Share.
Cloud Technologies is gaining all the attention from the market. Their strong holding for the data is revolutionising the software management markets. Cloud Technologies are allowing companies to analyse, collect, and share team member information anywhere and at anytime. Companies are opting for cloud features such as expandability, which minimise their operational costs, generally pose difficulty in traditional methods. Companies do not have to worry about maintenance, as the cloud vendors are taking care of it too, saving time and cost.
Comprehensive Analysis of 360 Degree Feedback Software Market
The 360 Degree Feedback Software Market and Information & Communication Technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the communication benefit management industry. These segmentations are methodically segregated By Type Analysis and By Application Analysis. The analysis types include Installed, &Web-based. However by application analysis the types are, Education, Retail, Corporate, Travel and Hospitality, Healthcare.
North America is holding the dominating position in 360 Degree Feedback Software Market Share. The region is filled with Doctors, technology experts, scientists, and various types of talented professionals which are employed on the contract basis. To evaluate their performance companies need to have some strong yet easy to use solution. Hence, demand for feedback software is getting high in this region. Adoption of web/cloud-based feedback software is taking up the speed and making the North America the highest share hold of the feedback software market.
The top players in the market play a crucial role in the Information & communication industry assuring industrial prospectus growth and setting market standards. These players include, Explorance Inc. (Canada), Qualtrics (U.S.), Momentive (U.S.), Actus Software (U.K.), Engagedly (U.S.), QuestionPro Survey Software (U.S.), Trakstar (U.S.), Lattice (U.S.), SurveySparrow Inc. (U.S.), SmartSurvey (England), these market players provide a level-playing competitive landscape.
March 2023 Explorance announced the general availability of Explorer BlueML and free personalized feedback analytics reports. This enables the HR and education leaders to build a more resilient and agile workforce.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 11.2% from 2024 to 2032
Unit Value (USD billion)
Segmentation By Type
Installed
Web-based
By Application
Education
Retail
Corporate
Travel and Hospitality
Healthcare
By Region
North America (By Type, By Application, and By Country)
- U.S. (By Application)
- Canada (By Application)
- Mexico (By Application)
Europe (By Type, By Application, and By Country)
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Russia (By Application)
- Benelux (By Application)
- Nordics (By Application)
- Rest of Europe
Asia Pacific (By Type, By Application, and By Country)
- China (By Application)
- Japan (By Application)
- India (By Application)
- South Korea (By Application)
- ASEAN (By Application)
- Oceania (By Application)
- Rest of Asia Pacific
Middle East & Africa (By Type, By Application, and By Country)
- Turkey (By Application)
- Israel (By Application)
- GCC (By Application)
- South Africa (By Application)
- North Africa (By Application)
- Rest of Middle East & Africa
South America (By Type, By Application, and By Country)
- Brazil (By Application)
- Argentina (By Application)
- Rest of South America
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global 360 Degree Feedback Software Key Players Market Share/Ranking, 2023
- 5. Global 360 Degree Feedback Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Type (USD)
- 5.2.1. Installed
- 5.2.2. Web-based
- 5.3. By Application (USD)
- 5.3.1. Education
- 5.3.2. Retail
- 5.3.3. Corporate
- 5.3.4. Travel and Hospitality
- 5.3.5. Healthcare
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America 360 Degree Feedback Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Type (USD)
- 6.2.1. Installed
- 6.2.2. Web-based
- 6.3. By Application (USD)
- 6.3.1. Education
- 6.3.2. Retail
- 6.3.3. Corporate
- 6.3.4. Travel and Hospitality
- 6.3.5. Healthcare
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. By Application
- 6.4.2. Canada
- 6.4.2.1. By Application
- 6.4.3. Mexico
- 6.4.3.1. By Application
- 7. South America 360 Degree Feedback Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Type (USD)
- 7.2.1. Installed
- 7.2.2. Web-based
- 7.3. By Application (USD)
- 7.3.1. Education
- 7.3.2. Retail
- 7.3.3. Corporate
- 7.3.4. Travel and Hospitality
- 7.3.5. Healthcare
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.1.1. By Application
- 7.4.2. Argentina
- 7.4.2.1. By Application
- 7.4.3. Rest of South America
- 8. Europe 360 Degree Feedback Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Type (USD)
- 8.2.1. Installed
- 8.2.2. Web-based
- 8.3. By Application (USD)
- 8.3.1. Education
- 8.3.2. Retail
- 8.3.3. Corporate
- 8.3.4. Travel and Hospitality
- 8.3.5. Healthcare
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.1.1. By Application
- 8.4.2. Germany
- 8.4.2.1. By Application
- 8.4.3. France
- 8.4.3.1. By Application
- 8.4.4. Italy
- 8.4.4.1. By Application
- 8.4.5. Spain
- 8.4.5.1. By Application
- 8.4.6. Russia
- 8.4.6.1. By Application
- 8.4.7. Benelux
- 8.4.7.1. By Application
- 8.4.8. Nordics
- 8.4.8.1. By Application
- 8.4.9. Rest of Europe
- 9. Middle East & Africa 360 Degree Feedback Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Type (USD)
- 9.2.1. Installed
- 9.2.2. Web-based
- 9.3. By Application (USD)
- 9.3.1. Education
- 9.3.2. Retail
- 9.3.3. Corporate
- 9.3.4. Travel and Hospitality
- 9.3.5. Healthcare
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.1.1. By Application
- 9.4.2. Israel
- 9.4.2.1. By Application
- 9.4.3. GCC
- 9.4.3.1. By Application
- 9.4.4. North Africa
- 9.4.4.1. By Application
- 9.4.5. South Africa
- 9.4.5.1. By Application
- 9.4.6. Rest of MEA
- 10. Asia Pacific 360 Degree Feedback Software Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Type (USD)
- 10.2.1. Installed
- 10.2.2. Web-based
- 10.3. By Application (USD)
- 10.3.1. Education
- 10.3.2. Retail
- 10.3.3. Corporate
- 10.3.4. Travel and Hospitality
- 10.3.5. Healthcare
- 10.4. By Country (USD)
- 10.4.1. China
- 10.4.1.1. By Application
- 10.4.2. India
- 10.4.2.1. By Application
- 10.4.3. Japan
- 10.4.3.1. By Application
- 10.4.4. South Korea
- 10.4.4.1. By Application
- 10.4.5. ASEAN
- 10.4.5.1. By Application
- 10.4.6. Oceania
- 10.4.6.1. By Application
- 10.4.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Explorance, Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Qualtrics
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Momentive
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Actus Software
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Engagedly
- 11.5.1.
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. QuestionPro Survey Software
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Trakstar
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Lattice
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. SurveySparrow, Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. SmartSurvey
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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