Lewes, DE -- (SBWIRE) -- 03/21/2018 -- Report forecast the global performance appraisal software market to grow at a CAGR of 8.42% during the period 2018-2022.

Performance appraisal software have pre-defined programs that centralize processes such as monitoring compensation strategy; providing employee satisfaction; monitoring compensation levels, bonus payments, and awards; monitoring and analyzing compensation data; addressing employee queries about benefits; and streamlining processes to eliminate manual and ad hoc processes.

The report covers the present scenario and the growth prospects of the global performance appraisal software market for 2018-2022. To calculate the market size, the report considers the revenue generated from the performance appraisal software.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one of the major drivers for this market is Increased dependency on internet. The increased use of the internet for day-to-day activities and critical operations is driving the growth of the market. Companies are offering storage services on cloud, leading to the storage of critical information on the internet. Many companies across the world are adopting fully digitized systems in their HR departments. Although online models have several benefits over traditional models, they are associated with security threats.

Further, the report states that one of the major factors hindering the growth of this market is Availability of open-source performance appraisal software. The availability of several open-source performance appraisal software is a major challenge for the growth of the global performance appraisal software market. For instance, HRtrack and Sleekr provide organizations free access to performance appraisal tools. Moreover, the global performance appraisal software market has many open-source vendors that provide a range of performance appraisal tools and applications, which are economical solutions for organizations with limited resources and expertise.

Global Performance Appraisal Software Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global performance appraisal software market: Oracle, Saba Software, SAP SuccessFactors, SumTotal System, and Ultimate Software

Market driver
- Increased dependency on internet
- For a full, detailed list, view our report

Market challenge
- Availability of open-source performance appraisal software
- For a full, detailed list, view our report

Market trend
- Emergence of cloud computing services
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?

Spanning over 150 pages "Global Performance Appraisal Software Market 2018 - 2022" report covers Executive summary, Introduction, Scope of the report, Research Methodology, Market landscape, Market Sizing, Five Forces Analysis, Market Segmentation By Deployment Model, Customer Landscape, Regional Landscape, Decision Framework, Drivers And Challenges, Market Trends, Vendor Landscape, Vendor Analysis, Appendix.

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