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2024 Objectives And Key Results (OKR) Software Market Report : Market Size, Growth Drivers, And Key Trends | Ally Technologies Inc., Weekdone, monday.com, Asana Inc., Wrike Inc
Objectives And Key Results (OKR) Software Global Market Report 2024
Objectives And Key Results (OKR) Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $2.55 Bn In 2028 At A CAGR Of 17% :
The objectives and key results (OKR) software market size has grown rapidly in recent years. It will grow from $1.17 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to increased usage of objectives and key results software for strategy execution, growth in the OKR adoption, need for alignment and transparency, increased need for effective performance management solutions, performance tracking and evaluation.
The objectives and key results (OKR) software market size is expected to see rapid growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to increased adoption of remote work and digital transformation initiatives, increasing demand from large enterprises, increase operational efficiency, growing demand for improved collaboration and alignment across teams and departments, increase employee engagement, swift adjustment, allying organizations. Major trends in the forecast period include introduction of new OKR software solutions, integration with performance management systems (PMS), growing adoption in non-enterprise sectors, ai-powered insights and automation, emergence of new technologies such as ai and machine learning.
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Objectives And Key Results (OKR) Software Market Major Segments
The objectives and key results (OKR) software market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment: Cloud-Based, On-Premise
3) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By End-User: Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecommunication (Telecom), Retail And E-Commerce, Manufacturing, Healthcare, Other End-Users
Key Driver - Remote Work's Impact On The Growth Of The Objectives And Key Results (OKR) Software Market
The increasing adoption of remote work is expected to propel the growth of the objectives and key results (OKR) software market going forward. Remote work is an arrangement where individuals do job activities from a location other than the usual office setting, often facilitated by digital technologies. The demand for remote work is growing due to flexibility and work-life balance, productivity and performance, health and safety concerns, and changing workforce preferences. OKR software provides a structured framework for setting and communicating goals, ensuring remote team members understand the broader objectives and how their work contributes to them. For instance, in September 2022, according to the Bureau of the Census, a US-based government agency, in 2021, the number of people predominantly working from home tripled, growing from 5.7% (approximately 9 million people) to 17.9% (27.6 million people) over the preceding two years. Therefore, the increasing adoption of remote work drives the growth of the objectives and key results (OKR) software market.
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Prominent Trend - Launch Of User-Friendly OKR (Objectives And Key Results) Management Software To Enhance Goal Alignment For Enterprises
Major companies operating in the objectives and key results (OKR) software market are focused on developing innovative OKR management software, such as OKR Board for Jira, to enable alignment toward goals. OKR Board for Jira is an OKR management software program that helps firms develop, track, and achieve their goals using the OKR framework. For instance, in October 2023, Oboard Ltd., a Germany-based provider of OKR software for businesses and organizations, launched the OKR Board for Jira software, a simple application that allows enterprises to set, manage, and report on OKRs directly from Atlassian's project tracking platform, Jira. The OKR Board for Jira is commended for its user-friendly arrangement and ease of utilization. Users can use the OKR framework directly in Jira, eliminating the requirement for extra apps or components outside the Atlassian ecosystem. The tool includes enterprise-level capabilities such as dedicated account managers, onboarding help, custom security reviews, roles and permissions, and a public API (application programming interface).
Objectives And Key Results (OKR) Software Market Players
Major companies operating in the objectives and key results (OKR) software market are Ally Technologies Inc., Weekdone, monday.com, Asana Inc., Wrike Inc., Aha! Labs Inc., Synergita Software Private Limited, Profit.co, 15Five, Quantive, Quantum Workplace Inc., WorkBoard Inc., BetterWorks Systems Inc., Engagedly, TalentGuard Holdings Inc., Workpath GmbH, Perdoo , Koan Inc., ESM Software LLC, Mooncamp GmbH, Atiim Inc., Huminos Inc., Gtmhub Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the objectives and key results (OKR) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the objectives and key results (OKR) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Objectives And Key Results (OKR) Software Market Report Structure
3. Objectives And Key Results (OKR) Software Market Trends And Strategies
4. Objectives And Key Results (OKR) Software Market - Macro Economic Scenario
5. Objectives And Key Results (OKR) Software Market Size And Growth
…..
27. Objectives And Key Results (OKR) Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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