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 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 the organizations to enhance the operational efficiency and curb the operational cost. The organizations are adopting the technology based solutions and services for their talent acquisition needs and workforce management and performance evaluation. Moreover, the organizations are leveraging on the working analytics solution to develop a comprehensive workforce performance management.

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

Market Synopsis 

 Workforce Analytics Market

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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 shifting towards digitalization, the demand for cloud model is anticipated to increase during the forecast period due to the cost effectiveness and numerous other benefits offered by the model over conventional model.

Workforce Analytics Market

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North America is Leading the Workforce Analytics Market                           

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

Workforce Analytics Market

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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. 

Workforce Analytics Market

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. Compounded Annual Growth Rate (CAGR) for each respective segment 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. The report provides a holistic view of global workforce analytics market based on component, deployment, application 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)
 • Software
 • Services
   o Professional Service
   o Managed Service

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

 Application Segment (2017–2027; US$ Bn)
 • Aerospace & Defense
 • BFSI
 • Healthcare
 • Manufacturing
 • Retail
 • Telecom and IT
 • Others

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

Key questions answered in this report

  • What was the market size of workforce analytics in 2018 and forecast up to 2027?
  • Which is the largest regional market for workforce analytics?
  • What are the major trends followed in workforce analytics market across different regions?
  • Who are the key companies in the workforce analytics market?
  • What are the key strategies adopted by the leading workforce analytics companies in market?

Unique data points of this report

  • Statistics on workforce analytics and spending worldwide
  • Recent trends across different regions in terms of adoption of Workforce Analytics across applications
  • Notable developments going on in the industry
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
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Published Date:  Dec 2019
Category:  IT & Telecom
Report ID:   60119
Report Format:   PDF
Pages:   120
Rating:    4.1 (56)
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