IMARC Group's latest research report, titled "360 Degree Feedback Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the industry, which comprises insights on the 360 degree feedback software market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. 

The global 360-degree feedback software market size reached US$ 996 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,115 Million by 2032, exhibiting a growth rate (CAGR) of 8.7% during 2024-2032.

360 Degree Feedback Software Market Overview:

360-degree feedback software is a tool designed to facilitate the process of gathering feedback from multiple sources about an individual's performance, skills, and behaviors. It enables a comprehensive and well-rounded assessment by collecting feedback from different perspectives, including managers, peers, subordinates, and even external stakeholders. This software typically operates through an online platform, allowing participants to provide anonymous feedback through surveys or questionnaires. It streamlines and automates the feedback collection process, making it efficient and scalable. It offers features, such as customizable survey templates, automated reminders, data analysis and reporting, and secure data storage. It also supports the development of actionable insights by providing comprehensive reports that highlight strengths, areas for improvement, and patterns across different feedback sources.

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360 Degree Feedback Software Market Trends:

The 360 degree feedback software market is driven by the growing importance of continuous feedback and performance improvement in various organizations. Additionally, as businesses strive to enhance performance, boost employee engagement, and drive talent development, there is growing adoption of 360 degree feedback software. Moreover, the rise of remote work and geographically dispersed teams is fuelling the adoption of 360 degree feedback software. Besides, the integration of artificial intelligence (AI) and data analytics in 360 degree feedback software is supporting the market as AI-powered algorithms assist in analyzing feedback data, identifying patterns, and providing actionable insights. Furthermore, the increasing emphasis on employee development and growth has fueled the demand for 360 degree feedback software.

Competitive Landscape with Key Players:

  • Cornerstone OnDemand Inc.
  • CustomInsight
  • Mercer LLC (Marsh & McLennan Companies, Inc.)
  • Momentive Global Inc.
  • Performly
  • Qualtrics International Inc.
  • Salesforce Inc.
  • STAR 360 Feedback
  • SVI
  • LLC
  • Synergita Software Private Limited (Aspire Systems Group)
  • Talentguard Inc.

Key Market Segmentation:

Type Insights:

  • Installed
  • Web-based

Application Insights:

  • Corporate
  • Education
  • Retail
  • Healthcare
  • Travel and Hospitality
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance 
  • Market Outlook
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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