SEATTLE, Nov. 29, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global OKR software market was valued at US$ 555.1 million in 2017 and is projected to exhibit a CAGR of 14.1% over the forecast period (2018 – 2026).

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Key trends and analysis of the global OKR software market:

Increasing trend of streamlining enterprise business process is one of the key factors fuelling growth of the global OKR software market. Enterprises are focusing on installing this software in order to increase organization’s efficiency by simplifying various business operational tasks such as workforce planning, HR operations management, and supply chain performance management. OKR software help to align and connect employees to corporate goals and organization to analyze root causes behind the company’s performance. The software also help to maintain transparency related to targets in between employee and management and to identify and track employee efficiency on timely basis. Therefore, these factors are expected to propel growth of the global OKR software market over forecast period.

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Key Market Takeaways:

• The global OKR software market is projected to witness CAGR of 14.10% during the forecast period, owing to increasing demand for streamlining business operations by SMEs.
• Among deployment type, the cloud-based deployment segment is projected to hold major share in the global OKR software market. This is attributed to increasing adoption of cloud-based technologies coupled with high scalability offered by these technologies. Moreover, increasing demand for real-time data analysis is also expected to boost the OKR software market growth.
• Among industry verticals, BFSI segment is expected to witness significant growth in the OKR software market over the forecast period. OKR software offers extensive integration among various modules. It stores real time information related to employees and links employee to business processes to help organization to achieve targets. Moreover, the results provided by OKR software help organization in decision-making, which includes decision for strategic, tactical, and operational planning. The software also helps in saving time, reducing cost, and improves communication processes related to enterprises.
• Major players operating in the global OKR software market include, Aha! Labs, Betterworks, BirdDogHR, Javelo, Peopleflunet, Qilo Technologies, Qunatum Workplace, Workteam, and Wrike, Inc.

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