HR analytics is the field of analytics, which focuses on employee metrics and optimization. HR analytics uses the integration of statistical model and data analytics tools to collect, measure and analyze employee-related data and workforce performance, which is further used by upper-level managers to strategize the human resource and improve employee-related decisions. Deliver smoother business-focused insights, anticipate employee disruption before they strike, and reinforces stronger organizational values and team consistency are some of the benefits of HR analytics within the organization.
The global HR analytics market size is anticipated to reach over USD 3 billion by 2025. This can be attributed to the rising penetration of smartphones on 3G, 4G, and 5G networks, increasing the necessity of city traffic solutions, and growing investments in technology-based transportation solutions.
Key Segments of the Global HR Analytics Market
Component Overview, 2018-2025 (USD Billion)
Application Overview, 2018-2025 (USD Billion)
• Core HR
• Workforce Management
• Talent Management
Deployment Type Overview, 2018-2025 (USD Billion)
Regional Overview, 2018-2025 (USD Billion)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- Rest of APAC
- South America
- Rest of South America
- The Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global HR analytics market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as new innovations by existing key players boost the market.
What does the report include?
- The study on the global HR analytics market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the HR analytics industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of type and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global HR analytics market. The report will benefit:
- Every stakeholder involved in developing and supporting HR analytics technologies and applications.
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global HR analytics market.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for HR analytics funding trends in the global HR analytics market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The increasing necessity of improving productivity and profitability is one of the major factors contributing to the growth of the global HR analytics market. The emergence of big data analytics in human resource management has further significantly impacted the growth of HR analytics market around the world. Big data has emerged as one of the major technology in almost every organizational department and industry, specifically in the human resource industry. Analyst leverage big data technology with HR analytics, which helps them to enhance almost every aspect of HR, including training, performance, recruitment, development, and compensation.
Furthermore, increasing concern over handling the enormous volume of data related to human capital by the majority of large enterprises is expected to drive the global HR analytics market over the forecast period. Human capital data is one of the least analyzed and measured information. When it comes to making important decisions, workforce-related information should be provided at the same level of simplicity as it provided about money, technology, service, or products. HR analytics provide these types of information with precision and in a sophisticated way.
On the basis of components, the market is categorized into software and services. The software segment dominated the overall HR analytics market which occupied a 69% share in 2019 and is anticipated to maintain its position over the forecast period 2020 -2025.
Core HR, workforce management, and talent management are the major applications considered in the global HR analytics market study. In 2019, the core HR application segment has the largest market share in the global market and it is also the fastest-growing vehicle type over the forecast period 2020 -2025.
Deployment Type Segment
Based on the deployment type, the global HR analytics market is bifurcated into on-premise and cloud. Cloud-based HR analytics solutions are expected to be the fastest-growing segment in the global market over the forecast period 2020 -2025.
On the geographical front, Asia Pacific will be the fastest-growing region in the global HR analytics market in 2019 and North America holds the largest market share in the given analysis period.
The North American market is expected to have the largest share of ~36% in the global HR analytics (MaaS) market in 2019. A major reason behind this is the rising adoption of HR analytics software and solution by SMEs and larges enterprises in North America. It is recorded that, approximately 22% of companies have adopted HR analytics in the region. Over the last five years, adoption of focused HR analytics solutions in North America has increased and it is the rate of adoption is higher than in other global regions. This adoption is limited to certain industries and the adoption rate of specific HR management analytics solutions is also low across industries. Tech-software and finance are the most adopted industries of HR analytics solutions. However, the roles and responsibilities of HR analytics in these industries are different. The finance industry has the highest adoption rate of HR analytics among other industries.
The major players of global HR analytics market are IBM Corporation, Sage Software, SAP Corporation, Oracle Corporation, Microstrategy Inc., Tableau Software, Crunchr, Visier Solutions Inc., Talentsoft, Zoho Corporation, Infor, Kronos Inc., Workday Inc., Gaininsights Solutions Pvt Ltd, Sisense Inc., etc.