Changing Work Dynamics
The global workforce analytics market size is likely to project a CAGR of nearly 15.1% during the forecast years 2021-2028. The workforce analytics market is driven by the growing work dynamics and high adoption rate in SMBS which acts as a driver as the demand for workforce analytics solution is increasing.
The present and future workforce analytics market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the workforce analytics market opportunities is growing demand for mobile applications. Furthermore, to ensure employee satisfaction & engagement, empowering managers within the organization, and strengthening team interconnection is the key factor driving the market growth for workforce analytics market.
Also, a surge in investment in workforce analytics from multinational companies and growing need to close the skill gaps is another factors driving the market growth. Furthermore, the incorporation of advanced technologies such as artificial intelligence and machine learning in workforce analytics is likely to provide lucrative development opportunities for the workforce analytics market in the forthcoming years.
The report also emphasizes several distinctiveness of the global workforce analytics industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the workforce analytics industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The workforce analytics market has tough competition among the new emerging and pre-established market vendors. Besides, the workforce analytics industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the organization size, the market is bifurcated into large enterprises and small and medium organizations. The Large Enterprises are predicted to hold the most significant CAGR in the forecast period as the innumerable acquirement is by the large enterprises in order to enhance product development.
North America is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the workforce analytics market in this region is mostly ascribed to the high rate of adoption of technologies such as AI, cloud, big data, analytics, and others. However, the growth in Asia Pacific region is likely due to improve employee productivity and performance of organizations business.
The major players of the global workforce analytics market are Oracle Corporation, IBM Corporation, Tableau Software Inc, SAP SE, Workday Inc, ADP LLC, Cornerstone OnDemand Inc, Kronos Incorporated, WorkForce Software, LLC, Visier Inc., TriNet, Genpact Ltd., Accenture Inc, Capgemini SE and Sage Software Inc. Renowned companies are offering new and modern workforce analytics software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Workforce Analytics Market
Organization Size Overview, 2021-2028 (USD Million)
- Small and Medium Enterprise
- Large Enterprise
Component Overview, 2021-2028 (USD Million)
- Managed Services
- Professional Services
- System Integrated Service
- Consulting Services
Deployment Mode Overview, 2021-2028 (USD Million)
End Use Overview, 2021-2028 (USD Million)
- IT and Telecom
- Travel & Hospitality
Regional Overview, 2021-2028 (USD Million)
- North America
- Asia Pacific
- Middle East and Africa (MEA)
- South America