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The report on the Japan employee engagement and feedback software market offers a thorough analysis of the industry's opportunities, dynamics, and competitive landscape. The market is analyzed from 2017 to 2027, with 2017-2020 serving as historic years, 2021 serving as the base year, and 2022-2027 serving as the forecast year.
The Japan employee engagement and feedback software market generated a revenue of US$ 59.0 Mn in 2020 and is growing at a compound annual growth rate of 9.1% from 2022 to 2027. The market has been estimated to grow at a growth opportunity of US$ 44 Mn by the end of the forecast period. On the basis of a significant growth rate, the market is expected to record a revenue of US$ 108.0 Mn by the end of the year 2027. The research report offers an analysis explained across 11 chapters totaling 151 pages, with 50 extensive data tables and 72 figures.
According to global studies, Japan ranks at the bottom of all countries in terms of employee engagement. Many Japanese managers are concerned about their employees' levels of motivation. According to the Japanese Productivity Center's 2018 report, Japan's per-hour productivity is around US$ 46.8, which is much lower than the United States' per-hour productivity of US$ 74.7 in the same year. Employee engagement software is a subset of application programs used by organizations to boost employee job satisfaction and retain top talent. The idea is to enable employees to become involved in their company's vision and culture, allowing them to be more productive and effective.
The report includes Japan employee engagement and feedback software market analysis on the basis of the following parameters – Delivery, Deployment, Offering, Content, Platform, and Enterprise Size. In comparison to the Standalone segment, the Integrated Delivery Models segment gain the majority of the market share with 9.8% of the compound annual growth rate. Factors such as the increased usage of cloud-based technology across enterprises of various sizes are attributed to the company's dominance and high shareholding. By offerings, customized interface holds around 71% of the market share in 2020 which enables employees to stay involved in significant and innovative work that drives the industry forward. The type of content making high scope in the employee engagement and feedback software industry is automation, as automating the repetitive tasks allows for continuous data collection and regular, constructive feedback with minimal effort.
The report includes an easy-to-understand value chain analysis, regional opportunities, and market dynamics. It also illustrates Porter's five forces analysis to evaluate the impact of many elements on Japan market, such as supplier bargaining power, competitor product mapping, threat of new entrants, threat of substitutes, and buyer and suppliers bargaining power. It includes a part dedicated to PESTLE analysis to examine the important factors affecting the market, such as political, economic, social, technical, legal, and environmental. Detailed analysis of Covid-19 impact study and a comprehensive chapter of company profile after the high-level analysis part has also been covered.
The report presents a depth analysis of different factors affecting the market growth. Key indicators analyzed include a rise in the number of small and mid-size enterprises, growing acceptance of technology-enabled solutions by enterprises as an effective tool to engage with their employees, and push by the government towards developing a culture of healthy social and work-life practices. These factors are forecast to have a strong impact on how the market evolves and subsequent shifts in the growth trends.
Employee engagement and feedback software saw growing demand at COVID-19, owing to the increased importance of listening to feedback among organizations. According to Qualtrics and PricewaterhouseCoopers (PwC) surveys, after the coronavirus outbreak, 95% of IT leaders have increased the frequency of taking employee feedback. Technology has also made it easier for remote workers to collaborate while working from home. The report includes the Covid-19 impact study at four levels which includes pre-covid (2017-2019), Short Term (2020-21), Mid Term (2022-24), and Long Term (2025-27).
Growth in the number of new firms in Japan is influencing the country's need for employee involvement. Secondary researches show that the number of organizations in Japan increased from 23,944 in 2016 to 29,243 in 2018. Employee involvement is expanding in the country, with a growth rate of 22.1%. It was observed from an analysis that among 142 nations, 30% of Americans are engaged at work, compared to only 7% of Japanese workers. Despite an increase in the number of businesses in Japan, the country confronts significant employee trust concerns, which opens the door for the adoption of feedback management software in the country.
In order to preserve a healthy relationship between employee and company, management in Japanese organizations has taken a variety of initiatives to raise employee understanding of software usage and benefits. As huge corporations acquire all of the new technological breakthroughs and thrive in terms of revenue, other organizations are steadily moving towards adopting new and innovative platforms for their organizations with a focus on increasing workplace efficiency. However, implementing Employee Engagement and Feedback Management Software demands a significant capital commitment, which SMEs are unable to accomplish.
The report's competition landscape section uses primary and secondary research to provide an in-depth analysis of key players active in the Japan Employee Engagement and Feedback Management Software Market. The list includes descriptive profiles of 22 prominent players and can be customized to meet the reader's research needs. Details covered for these players include – Business Description, Product Portfolio, Company Financials and Claims, Key Details, Strategy Outlook, and Recent Developments.
A thorough analysis of the report concluded that many firms provide various platforms and services in the Japan Employee Engagement and Feedback Software Market. Major players have adopted various competitive methods such as mergers and acquisitions to gain a foothold in the expanding market. Leading corporations are purchasing minor brands and domestic businesses in order to increase their regional reach.
As one of the top software companies, Reflektive offers HR leaders and their agile organizations innovative, real-time performance management solutions. Similarly, Quantum Workplace is a cloud-based platform that provides businesses with employee engagement solutions, including all-in-one employee engagement software that empowers managers to shape workplace culture. Other key players profiled in the research report included are 15 Five, Achievers, BAM Creative, Bitrix24, Culture Amp, Hyphen, Impraise, KaiNexus, Motivosity, Officevibe, Qualtrics, Reflektive, Saba Software, Synergita, Teamphoria, Technology Advice, Tiny Pulse, Transcend, Vocoli, Weekdone, and Zinda.
By Enterprise size
In 2020, the Japan employee engagement and feedback software market was US$ 59.0 million.
Japan employee engagement and feedback software market is growing at a CAGR of 9.1% over the forecast period 2021-2027.
Companies in the market face a high threat of substitutes due to the easy availability of personalized solutions that vary by organization size. In addition, a lack of technical management abilities leaves room for traditional ways of personnel management.
Increase in the number of organizations along with implementation of advance technologies and adoption of smartphones are expected to propel the employee engagement market forward.
Low awareness level of benefits and high capital investment for integration of employee engagement software, may limit the market's growth.
Employee satisfaction and management have improved as a result of the use of big data analytics for employee management, which is advantageous to both employees and the firm.
Mobile is growing at the highest CAGR of about 9.6% over 2021- 2027.
Employee engagement and feedback software market is observed to be monopolistic competition and is projected to shift towards oligopoly nature in the forecast period.
The report covers the following segments: delivery, deployment, offering, content, platform and enterprise size.
Some key players operating in the Japan employee engagement market include Qualtrics, Culture Amp, Saba Software, Achievers, Reflektive and others.
The key strategies adopted by market players include mergers and acquisitions, partnerships, regional expansion, enhancement of existing software and new product and services development.
Employee engagement and feedback software saw growing demand during COVID-19, owing to the increased importance of feedback among organizations. Technology has made it easier for remote workers to collaborate while working from home. As a result, in Japan, employee engagement has become a critical priority.