[PDF] OKR Software Market to Surpass US$ 1,592.3 Million by 2026 | openpr.com

The global OKR software industry 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

Growing competition in industries such as telecom, automotive, healthcare, and e-commerce is expected to contribute to growth of the global OKR software industry. These industries are focused on increasing investment on different types of enterprise performance management software such as OKR. These solutions enable enterprises to automate their business operations in order to enhance overall business performance. Moreover, these solutions help companies to manage their targets efficiently, which further contributes in increasing revenue of the company. OKR software also helps organization to set their monthly, quarterly, and annual goals and strategies. Moreover, these solutions help enterprises to effectively maintain and track employee performance and to focus on core business competencies. Furthermore, the amount of business and customer data generated by organizations is significantly increasing. Therefore, enterprises are focusing on implementing OKR software to track and gather quick responses related to business operational issues. The software also helps to cater to increasing business needs and helps to align business for maximizing profitability. Therefore, all these factors are expected to propel growth of the OKR software industry over forecasted period.

Some of the key players operating in the global OKR software industry include Wrike, Inc., Peoplefluent, Aha! Labs, Trakstar, Workteam, BirdDogHR, Betterworks, Javelo, Quantum Workplace, Qilo Technologies, and Perdoo GmBH, among others.

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Key Trends and Analysis of the Global OKR Software industry:

North America held dominant position in the global OKR software industry in 2017 and it is projected to retain its dominance throughout the forecast period. Rapid digital transformation and increasing use of cloud computing services are some of the major factors that drive growth of the OKR software industry in North America. Moreover, presence of major software providers such as Google, Inc., IBM Corporation, Microsoft Corporation, and Oracle Corporation is also expected to propel demand for OKR software in the region.

Asia Pacific is expected to be the fastest growing industry throughout the forecast period. This is owing to growing IT, telecom, and e-commerce sectors in emerging economies such as India and China. For instance, according to India Brand Equity Organization’s analysis, in 2017, India accounted for the second-largest telecommunications industry with a subscriber base of 1.17 billion.

Moreover, significant growth in the telecommunication sector has led to increasing volume of data flow from business and consumers. Therefore, organizations adopt OKR software to manage the increasing data flow as the software offers quicker results as compared to conventional operations management software. Moreover, the real-time data generated from OKR software helps enterprises to gain optimistic insights from enormous data sets, which in turn helps to make quick decisions for enhanced employee performance and productivity. Therefore, all these factors are expected to propel growth of the OKR software industry in Asia Pacific.

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