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HR Analytics Market By Component (Solutions, Services), By Deployment Mode (On-Premise, Cloud), By Application (Payroll, Recruitment, Retention, Workforce & Employee Management, Employee Development), By End-Use Vertical (Consumer Goods And Retail, IT And Telecom, Healthcare, Education, Others) - Growth, Future Prospects, And Competitive Landscape, 2019 - 2027

Overview:                      

The global HR analytics market garnered the value of US$ 2.33 Bn in 2018 and is likely to witness noteworthy growth, with a CAGR of 12.8% during the forecast period from 2019 to 2027. Analytics have changed and has been continuously changing how every department in an organization is doing business. It has helped in discovering, interpreting and communicating meaningful patterns in data. HR analytics works by collecting employees’ data, from the work history to their employee satisfaction scores, and instilling this information into advanced computer models. Using the requisite algorithms, these models churn out insights that HR leaders can use to make critical decisions.

Over the recent years, the adoption of analytical technology has moved static HR management solutions to more real-time, dynamic cloud and mobile-based tools and platforms. These solutions are being integrated in various areas such as collaboration, recruitment, performance management, learning, productivity, wellness, etc. As a result, growing need amongst organizations to augment the profitability by reducing the associated operational costs with HR processes is likely to drive the growth of the market for HR analytics in the foreseeable future.

Market Snapshot

HR Analytics Market

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HR Analytics Solution Garnered the Largest Market Share in 2018

In 2018, based on component, the solution segment led the market and is expected to retain its dominance in the years to come. The use of HR analytics is significantly transforming the human resource strategy. With time, HR analytics solutions are seen as one of the critical tools that are shaping the future business strategy. The globalization of businesses, changing demographics and patterns of mobility alter continuously, changing the nature of work and the worker. Due to this change, the HR is required to become the provider of human capital analytics, which helps them in planning, developing, hiring, retaining and engaging key talents and also make strategic business decision-making. As a result, various organizations across the globe are implementing HR analytics solutions which help their HR department in improving the employee’s overall experience and involves them in various activities that help them grow in a better manner. Consequently, a significant increase in the adoption of HR analytics solutions is expected to lift the overall growth of the market during the forecast period.

HR Analytics Market

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Adoption rate of HR analytics in North America has been strong

In 2018, North America garnered the largest market share in the HR analytics market and will continue with its supremacy during the forecast period from 2019 to 2027. In the recent years, the adoption HR analytics in North America has become stronger and higher in comparison to other regions. In the overall regional market, 22% of companies have espoused HR analytics and 11% have adopted the role itself. The industries with the most prevalent adoption of HR analytics are tech-software and finance. Also, as the region is an early adopter of new technologies and a major hub for technological innovations, various organizations in the region are incessantly focusing on improving their workforce efficiency and are employing the best practices for HR set-ups. Moreover, the presence of some leading players in the region including Oracle Corporation, International Business Machines Corporation, Workday, Inc., etc. is altogether supporting the adoption of HR analytics.

HR Analytics Market

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Competitive Insights

The major players identified in the HR analytics market include Oracle Corporation, SAP SE, Workday, Inc., The Sage Group plc, Kronos Incorporated, MicroStrategy Incorporated, International Business Machines Corporation, Tableau Software, Zoho, Crunchr, Visier Inc., GainInsights, Sisense Inc., and Talensoft among others. The players in the HR analytics market are continually focusing on expanding their reach and strengthening their product portfolio to cater the needs of the clienteles and also to sustain their foremost place in the market. New product development, product innovation and partnerships are some of the key strategies implemented by the players in the HR analytics market.

HR Analytics Market

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

HR analytics market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global HR analytics market based on component, deployment mode, application, end-use vertical, and geography. Key segments covered in the report are as follows:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 Component Segment (2017-2027; US$ Bn)
 • Solutions
 • Services

 Deployment Mode Segment (2017 – 2027; US$ Bn)
 • On-premise
 • Cloud

 Application Segment (2017 – 2027; US$ Bn)
 • Payroll
 • Recruitment
 • Retention
 • Workforce & Employee Management
 • Employee Development

 End-use Vertical Segment (2017 – 2027; US$ Bn)
 • Banking, Financial Services & Insurance (BFSI)
 • Consumer Goods and Retail
 • IT & Telecom
 • Healthcare
 • Education
 • Others (Manufacturing, etc.)

 Geography Segment (2017-2027; US$ Bn)
 • North America (U.S., Rest of North America)
 • Europe (U.K., Germany, France, Rest of Europe)
 • Asia Pacific (Japan, China, India, Rest of APAC)
 • Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of HR analytics market in 2018 and forecast up to 2027?
  • What are the key factors driving the global HR analytics market?
  • What are the key market trends and high-growth opportunities observed in the HR analytics market?
  • What are the drivers of the HR analytics market?
  • Which is the largest regional market for HR analytics market?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market growth? Why?
  • Which players are leading the HR analytics market?
  • What are the sustainability strategies adopted by the key players operating in the market?
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Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Nov 2019
Category:  Technology & Media
Report ID:   60004
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
Delivery Time: 24 Hours to 48 Hours   
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