Workforce Analytics Market By Component (Software, Service), By Deployment (On-Premise, Cloud), By Application (Aerospace & Defense, BFSI, Healthcare, Manufacturing, Retail, Telecom and IT, Others) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

The Rising Need for Robust Security Solution is Driving the Growth of the Workforce Analytics Market

Globally, the workforce analytics market is expected to grow with a CAGR of 16.5% during the forecast period from 2019 to 2027. The market is propelled by the growing need among organizations to enhance operational efficiency and curb operational costs. As a result, organizations are adopting technology-based solutions and services for talent acquisition needs, workforce management, and performance evaluation. Moreover, organizations are leveraging the working analytics solution to develop comprehensive workforce performance management.

The growing digital data among the organization is also encouraging the adoption of the workforce analytics solution to derive actionable insights and accelerate the market growth. Furthermore, the growing adoption of cloud-based services among organizations is also paving the way for the integration of workforce analytics solutions. However, the reluctance among the organization to shift from conventional methods to advanced software solutions is inhibiting the growth of the market. Moreover, the lack of awareness about the benefits of the solution is also a major constraint in the market's growth.  

Market Synopsis

Cloud Deployment is Estimated to Grow Significantly During the Forecast Period  

The workforce analytics market is segmented based on the deployment into on-premise and cloud. The on-premise segment accounted for more than 70% share in the revenue in 2018. The growth of the market is attributed to the control and rigid security offered by the on-premise deployment model. However, as the organization shifts towards digitalization, the demand for cloud models is anticipated to increase during the forecast period due to the cost-effectiveness and numerous other benefits offered by the model over the conventional model.

North America is Leading the Workforce Analytics Market                      

North America led the global workforce analytics market in 2018, with a market share of more than 42%. The growing digitalization across the organizations in the region is the primary driver of the market growth. The growing deployment of cloud-based services among organizations is also one of the major factors accelerating the adoption of workforce analytics solutions. Furthermore, the changing market dynamics and integration of advanced technologies for workforce management also foster market growth.

The major vendors in the workforce analytics market are Aquire Inc, ADP LLC, Cornerstone OnDemand Inc, IBM Corporation, Genpact Ltd, Kronos Inc, PeopleSreme Pty Ltd, Oracle Corporation, SAP SE, Visier Inc, Tableau Software, and Workforce Software LLC. 

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027. 

Report Scope by Segments

The workforce analytics market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global workforce analytics market based on component, deployment, application, and geography.

Frequently Asked Questions:

The market for Workforce Analytics is expected to reach US$ XX Bn in 2028.

The Workforce Analytics market is expected to see significant CAGR growth over the coming years, at 16.5%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

ADP LLC, Aquire Inc., Cornerstone OnDemand Inc., Genpact Ltd., IBM Corporation, Kronos Inc., Oracle Corporation, PeopleSreme Pty Ltd, SAP SE are some of the major players in the global market.

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Published Date:  Dec 2019
Category:  IT & Telecom
Report ID:   60119
Report Format:   PDF
Pages:   120
Rating:    4.1 (56)
Delivery Time: 24 Hours to 48 Hours   
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