Employee Recognition Software Market SWOT Analysis by 2031
Employee recognition software helps improve company culture by offering tangible motivations for quality customer service, content creation, and sales performance, to name a few. These behavior-driven platforms allow administrators or management to set standards or qualifications for rewards and monitor employee progress to determine the winning recipients. Some solutions provide peer recognition and reward options. Rewards are not limited to a certain industry or team and can be distributed across the company for anything from yearly tenure recognition to an everyday positive attitude.
MARKET DYNAMICS
Measure qualitative or quantitative metrics for the purpose of declaring intermittent award recipients within companies and teams, Let administrators preset standards and timelines for rewards and automatically determine and report on winners are some of the factors driving the growth of the market
MARKET SCOPE
The "Global Employee Recognition Software Market Analysis to 2031" is a specialized and in-depth study of the Employee recognition software market with a special focus on the global market trend analysis. The report aims to provide an overview of Employee recognition software market with detailed market segmentation by type, application. The global Employee recognition software market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Employee recognition software market player and offers key trends and opportunities in the Employee recognition software market.
MARKET SEGMENTATION
The global Employee recognition software market is segmented on the basis of type, application. On the basis of type, market is segmented as web-based, cloud-based. On the basis of application, market is segmented as small and medium enterprise, large enterprise.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Employee recognition software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Employee recognition software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Employee recognition software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Employee recognition software market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Employee recognition software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Employee recognition software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Employee recognition software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Employee recognition software market in these regions.
MARKET PLAYERS
The reports cover key developments in the Employee recognition software market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Employee recognition software market are anticipated to lucrative growth opportunities in the future with the rising demand for Employee recognition software market. Below mentioned is the list of few companies engaged in the Employee recognition software market.
The report also includes the profiles of key Employee recognition software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Achievers Solutions Inc.
- Awardco
- Bonusly
- Bucketlist
- HALO Recognition
- Kazoo
- Kudos Inc.
- Motivosity Inc.
- Quantum Workplace
- Reward Gateway
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Employee Recognition Software Market - By Type
1.3.2Employee Recognition Software Market - By Application
1.3.3Employee Recognition Software Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.EMPLOYEE RECOGNITION SOFTWARE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.EMPLOYEE RECOGNITION SOFTWARE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.EMPLOYEE RECOGNITION SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1.EMPLOYEE RECOGNITION SOFTWARE - GLOBAL MARKET OVERVIEW
6.2.EMPLOYEE RECOGNITION SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.EMPLOYEE RECOGNITION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 â" TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.WEB-BASED
7.3.1.Overview
7.3.2.Web-based Market Forecast and Analysis
7.4.CLOUD-BASED
7.4.1.Overview
7.4.2.Cloud-based Market Forecast and Analysis
8.EMPLOYEE RECOGNITION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.SMALL AND MEDIUM ENTERPRISE
8.3.1.Overview
8.3.2.Small and Medium Enterprise Market Forecast and Analysis
8.4.LARGE ENTERPRISE
8.4.1.Overview
8.4.2.Large Enterprise Market Forecast and Analysis
9.EMPLOYEE RECOGNITION SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Employee Recognition Software Market Overview
9.1.2North America Employee Recognition Software Market Forecasts and Analysis
9.1.3North America Employee Recognition Software Market Forecasts and Analysis - By Type
9.1.4North America Employee Recognition Software Market Forecasts and Analysis - By Application
9.1.5North America Employee Recognition Software Market Forecasts and Analysis - By Countries
9.1.5.1United States Employee Recognition Software Market
9.1.5.1.1United States Employee Recognition Software Market by Type
9.1.5.1.2United States Employee Recognition Software Market by Application
9.1.5.2Canada Employee Recognition Software Market
9.1.5.2.1Canada Employee Recognition Software Market by Type
9.1.5.2.2Canada Employee Recognition Software Market by Application
9.1.5.3Mexico Employee Recognition Software Market
9.1.5.3.1Mexico Employee Recognition Software Market by Type
9.1.5.3.2Mexico Employee Recognition Software Market by Application
9.2.EUROPE
9.2.1Europe Employee Recognition Software Market Overview
9.2.2Europe Employee Recognition Software Market Forecasts and Analysis
9.2.3Europe Employee Recognition Software Market Forecasts and Analysis - By Type
9.2.4Europe Employee Recognition Software Market Forecasts and Analysis - By Application
9.2.5Europe Employee Recognition Software Market Forecasts and Analysis - By Countries
9.2.5.1Germany Employee Recognition Software Market
9.2.5.1.1Germany Employee Recognition Software Market by Type
9.2.5.1.2Germany Employee Recognition Software Market by Application
9.2.5.2France Employee Recognition Software Market
9.2.5.2.1France Employee Recognition Software Market by Type
9.2.5.2.2France Employee Recognition Software Market by Application
9.2.5.3Italy Employee Recognition Software Market
9.2.5.3.1Italy Employee Recognition Software Market by Type
9.2.5.3.2Italy Employee Recognition Software Market by Application
9.2.5.4United Kingdom Employee Recognition Software Market
9.2.5.4.1United Kingdom Employee Recognition Software Market by Type
9.2.5.4.2United Kingdom Employee Recognition Software Market by Application
9.2.5.5Russia Employee Recognition Software Market
9.2.5.5.1Russia Employee Recognition Software Market by Type
9.2.5.5.2Russia Employee Recognition Software Market by Application
9.2.5.6Rest of Europe Employee Recognition Software Market
9.2.5.6.1Rest of Europe Employee Recognition Software Market by Type
9.2.5.6.2Rest of Europe Employee Recognition Software Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Employee Recognition Software Market Overview
9.3.2Asia-Pacific Employee Recognition Software Market Forecasts and Analysis
9.3.3Asia-Pacific Employee Recognition Software Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific Employee Recognition Software Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Employee Recognition Software Market Forecasts and Analysis - By Countries
9.3.5.1Australia Employee Recognition Software Market
9.3.5.1.1Australia Employee Recognition Software Market by Type
9.3.5.1.2Australia Employee Recognition Software Market by Application
9.3.5.2China Employee Recognition Software Market
9.3.5.2.1China Employee Recognition Software Market by Type
9.3.5.2.2China Employee Recognition Software Market by Application
9.3.5.3India Employee Recognition Software Market
9.3.5.3.1India Employee Recognition Software Market by Type
9.3.5.3.2India Employee Recognition Software Market by Application
9.3.5.4Japan Employee Recognition Software Market
9.3.5.4.1Japan Employee Recognition Software Market by Type
9.3.5.4.2Japan Employee Recognition Software Market by Application
9.3.5.5South Korea Employee Recognition Software Market
9.3.5.5.1South Korea Employee Recognition Software Market by Type
9.3.5.5.2South Korea Employee Recognition Software Market by Application
9.3.5.6Rest of Asia-Pacific Employee Recognition Software Market
9.3.5.6.1Rest of Asia-Pacific Employee Recognition Software Market by Type
9.3.5.6.2Rest of Asia-Pacific Employee Recognition Software Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Employee Recognition Software Market Overview
9.4.2Middle East and Africa Employee Recognition Software Market Forecasts and Analysis
9.4.3Middle East and Africa Employee Recognition Software Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa Employee Recognition Software Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Employee Recognition Software Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Employee Recognition Software Market
9.4.5.1.1South Africa Employee Recognition Software Market by Type
9.4.5.1.2South Africa Employee Recognition Software Market by Application
9.4.5.2Saudi Arabia Employee Recognition Software Market
9.4.5.2.1Saudi Arabia Employee Recognition Software Market by Type
9.4.5.2.2Saudi Arabia Employee Recognition Software Market by Application
9.4.5.3U.A.E Employee Recognition Software Market
9.4.5.3.1U.A.E Employee Recognition Software Market by Type
9.4.5.3.2U.A.E Employee Recognition Software Market by Application
9.4.5.4Rest of Middle East and Africa Employee Recognition Software Market
9.4.5.4.1Rest of Middle East and Africa Employee Recognition Software Market by Type
9.4.5.4.2Rest of Middle East and Africa Employee Recognition Software Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Employee Recognition Software Market Overview
9.5.2South and Central America Employee Recognition Software Market Forecasts and Analysis
9.5.3South and Central America Employee Recognition Software Market Forecasts and Analysis - By Type
9.5.4South and Central America Employee Recognition Software Market Forecasts and Analysis - By Application
9.5.5South and Central America Employee Recognition Software Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Employee Recognition Software Market
9.5.5.1.1Brazil Employee Recognition Software Market by Type
9.5.5.1.2Brazil Employee Recognition Software Market by Application
9.5.5.2Argentina Employee Recognition Software Market
9.5.5.2.1Argentina Employee Recognition Software Market by Type
9.5.5.2.2Argentina Employee Recognition Software Market by Application
9.5.5.3Rest of South and Central America Employee Recognition Software Market
9.5.5.3.1Rest of South and Central America Employee Recognition Software Market by Type
9.5.5.3.2Rest of South and Central America Employee Recognition Software Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.EMPLOYEE RECOGNITION SOFTWARE MARKET, KEY COMPANY PROFILES
11.1.ACHIEVERS SOLUTIONS INC.
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.AWARDCO
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.BONUSLY
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.BUCKETLIST
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.HALO RECOGNITION
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.KAZOO
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.KUDOS INC.
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.MOTIVOSITY INC.
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.QUANTUM WORKPLACE
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.REWARD GATEWAY
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. Achievers Solutions Inc.
2. Awardco
3. Bonusly
4. Bucketlist
5. HALO Recognition
6. Kazoo
7. Kudos Inc.
8. Motivosity Inc.
9. Quantum Workplace
10. Reward Gateway
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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