Workforce Analytics Market - Forecast(2024 - 2030)
Overview
Workforce Analytics Market is
forecast to reach $1.94 billion by 2025, after growing at a CAGR of 13.43% during
2020-2025. In recent time, enterprises are adopting workforce analytics to
manage the human resource effectively. Thus, by leveraging the benefits of
workforce analytics, an enterprises finds the best way to manage employees’
performance, recruitment retention, employees’ engagement and others. In addition to this many of the companies are
adopting workforce analytics to manage their workforce planning which will
further increase the productivity of employees and uplift the market. Thereby, the
adoption of workforce analytics by various enterprises impact the market
positively during the given forecast period 2020-2025. The report covers Workforce Analytics Market size by type and applications, Workforce Analytics Market share by top 5 companies and also the market share by start-ups during the forecast period.
Report Coverage
The report: “Workforce Analytics Market – Forecast (2019-2024)”, by IndustryARC,
covers an in-depth analysis of the following segments of the Workforce
Analytics Market.
Key Takeaways
·
Asia-Pacific region dominated the Workforce
Analytics Market in 2019 owing to settlement of new enterprises in the
developing countries such as India and others.
·
By leveraging the benefits of workforce
analytics, an enterprise find the best practice for recruitment, retention, and
employee engagement, which is likely to aid the market growth.
·
Cloud based workforce analytics is expected to
accelerate the market due to various benefits such as enhanced collaboration,
cost efficiency and others.
·
High cost of deployment and lack of awareness
may hamper the adoption of workforce analytics and is likely to retard the
market
Industry Vertical- Segment Analysis
The Banking,
Financial Services, and Insurance (BFSI) industry vertical to hold the largest
market size in 2019 as well as during the forecast period 2020-2025. In banking
sector Workforce Analytics are deployed to make better and faster workforce
decision. Also, the use of analytics helps banking sector to optimize their
workforce, align them for streamline operation and helps to make decision on
accurate intelligence with cloud base operation.
Also, automatic
collection of data and verification of work by the analytics further leverage
the BFSI industry. There by, the deployment of workforce analytics in BFSI
sector would uplift the market during the given forecast period.
Cloud-based Workforce Analytics -Segment
Analysis
Cloud based
workforce analytics hold the largest market size during the forecast period
2020-2025 owing to its ease of use, scalability and cost effectiveness. Also, cloud-based
analytics comes under limited budget, so they could be opted by small and medium
scale enterprises as well. Additionally, cloud-based model features
accessibility from various device platforms and demand based usage which
further adds up to attract more customer attention
Geography - Segment Analysis
The Asia-Pacific region is
expected to witness the fastest growth during the forecast period 2020-2025. The
enormous settlement of small to medium enterprises (SME) in the countries such
as India and China has been deploying the workforce analytics, thereby creating
opportunities for the market in the region. For instance, as per offshore
Company Corp in 2017, India emerged as the top country for the fastest growing
companies in the region. Thus the adoption of workforce analytics by these
enterprises will boost the demand for the market. In addition to this,
government initiative such as start-up India scheme and others to encourage
entrepreneurship in the countries such as India, has been also driving the
market in the region.
Drivers – Workforce Analytics Market
·
Growing adoption of
Workforce analytics in Large Enterprises
Due to the
requirement of flexibility, speed and innovation, enterprises are now focusing
more on advanced people analytics management systems including workforce
analytics. Also companies are looking forward to improve collaboration across various
departments to increase the number of innovative ideas built into their products.
Thus, these requirements give rise in the adoption of workforce analytics creating
opportunities for the market to grow. For instance, Google is utilizing HR
analytics for their talent and field service management activities. The
deployment of workforce analytics across enterprise is likely to create huge
opportunities for the market during the forecast period 2020-2025.
·
Growing
Trend for Artificial intelligence
Various industry
verticals such as enterprise, healthcare, retail and others use AI based
workforce analytics for several benefits which includes human bias, improvement
in efficiency and insights in an employee’s assessment and others. In addition
to these, AI based workforce analytics are adopted for predictive decision
making so that predictive quality of decisions for present and future can be made.
Thus the implementation of AI based workforce analytics will increase the
productivity of an organization and is likely to create positive environment
for the growth of workforce analytics.
Challenges – Workforce Analytics Market
·
High Cost
of Deployment
Due to high cost of deployment
and lack of information there are possibilities that small enterprises may not
be using the workforce analytics. Also the advancement in workforce analytics
such as AI adoption and others, add up the cost and make the workforce analytics
more expensive. Thus, these issues may hamper the adoption of workforce
analytics for small firms which may obstructs the market growth during the
given forecast period.
Market Landscape
The workforce analytics market is highly competitive. Many
multinational companies such as IBM Corporation, Oracle Corporation, Accenture
Inc, and Capgemini SE, Sage Software Inc are few of the major players and
others.
Acquisitions/Technology Launches
Ø In
March 2019, Oracle Corporation launched an updated version of Oracle HCM cloud
to make work simpler, smarter, and more agile. This updated version offered an
enhanced experience to users, such as candidates, recruiters, HR professionals,
managers, and employees.
Ø February
2019, Infor Inc partnered with Montage, a provider of HR analytics solutions.
This partnership would offer the next generation of predictive talent analytics
and interviewing technology for the hiring process by leveraging the
capabilities of their respective platforms.
LIST OF TABLES
1.Global Workforce Analytics Market Analysis By Type Market 2023-2030 ($M)1.1 Solutions Market 2023-2030 ($M) - Global Industry Research
1.2 Services Market 2023-2030 ($M) - Global Industry Research
1.2.1 Consulting Services Market 2023-2030 ($M)
1.2.2 System Integration Market 2023-2030 ($M)
1.2.3 Managed Services Market 2023-2030 ($M)
2.Global Market Analysis By Deployment Model Market 2023-2030 ($M)
2.1 On-Premise Market 2023-2030 ($M) - Global Industry Research
2.2 On-Cloud Market 2023-2030 ($M) - Global Industry Research
3.Global Market Analysis By Organization Size Market 2023-2030 ($M)
3.1 Enterprise Market 2023-2030 ($M) - Global Industry Research
3.2 Small & Medium Business Market 2023-2030 ($M) - Global Industry Research
4.Global Workforce Analytics Market Analysis By Vertical Market 2023-2030 ($M)
4.1 Energy & Utilities Market 2023-2030 ($M) - Global Industry Research
4.2 Manufacturing Market 2023-2030 ($M) - Global Industry Research
4.3 Healthcare Market 2023-2030 ($M) - Global Industry Research
4.4 Retail Market 2023-2030 ($M) - Global Industry Research
4.5 Government & Public Sector Market 2023-2030 ($M) - Global Industry Research
4.6 Telecom & IT Market 2023-2030 ($M) - Global Industry Research
4.7 Travel & Hospitality Market 2023-2030 ($M) - Global Industry Research
5.Global Workforce Analytics Market Analysis By Type Market 2023-2030 (Volume/Units)
5.1 Solutions Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Services Market 2023-2030 (Volume/Units) - Global Industry Research
5.2.1 Consulting Services Market 2023-2030 (Volume/Units)
5.2.2 System Integration Market 2023-2030 (Volume/Units)
5.2.3 Managed Services Market 2023-2030 (Volume/Units)
6.Global Market Analysis By Deployment Model Market 2023-2030 (Volume/Units)
6.1 On-Premise Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 On-Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
7.Global Market Analysis By Organization Size Market 2023-2030 (Volume/Units)
7.1 Enterprise Market 2023-2030 (Volume/Units) - Global Industry Research
7.2 Small & Medium Business Market 2023-2030 (Volume/Units) - Global Industry Research
8.Global Workforce Analytics Market Analysis By Vertical Market 2023-2030 (Volume/Units)
8.1 Energy & Utilities Market 2023-2030 (Volume/Units) - Global Industry Research
8.2 Manufacturing Market 2023-2030 (Volume/Units) - Global Industry Research
8.3 Healthcare Market 2023-2030 (Volume/Units) - Global Industry Research
8.4 Retail Market 2023-2030 (Volume/Units) - Global Industry Research
8.5 Government & Public Sector Market 2023-2030 (Volume/Units) - Global Industry Research
8.6 Telecom & IT Market 2023-2030 (Volume/Units) - Global Industry Research
8.7 Travel & Hospitality Market 2023-2030 (Volume/Units) - Global Industry Research
9.North America Workforce Analytics Market Analysis By Type Market 2023-2030 ($M)
9.1 Solutions Market 2023-2030 ($M) - Regional Industry Research
9.2 Services Market 2023-2030 ($M) - Regional Industry Research
9.2.1 Consulting Services Market 2023-2030 ($M)
9.2.2 System Integration Market 2023-2030 ($M)
9.2.3 Managed Services Market 2023-2030 ($M)
10.North America Market Analysis By Deployment Model Market 2023-2030 ($M)
10.1 On-Premise Market 2023-2030 ($M) - Regional Industry Research
10.2 On-Cloud Market 2023-2030 ($M) - Regional Industry Research
11.North America Market Analysis By Organization Size Market 2023-2030 ($M)
11.1 Enterprise Market 2023-2030 ($M) - Regional Industry Research
11.2 Small & Medium Business Market 2023-2030 ($M) - Regional Industry Research
12.North America Workforce Analytics Market Analysis By Vertical Market 2023-2030 ($M)
12.1 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
12.2 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
12.3 Healthcare Market 2023-2030 ($M) - Regional Industry Research
12.4 Retail Market 2023-2030 ($M) - Regional Industry Research
12.5 Government & Public Sector Market 2023-2030 ($M) - Regional Industry Research
12.6 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
12.7 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
13.South America Workforce Analytics Market Analysis By Type Market 2023-2030 ($M)
13.1 Solutions Market 2023-2030 ($M) - Regional Industry Research
13.2 Services Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Consulting Services Market 2023-2030 ($M)
13.2.2 System Integration Market 2023-2030 ($M)
13.2.3 Managed Services Market 2023-2030 ($M)
14.South America Market Analysis By Deployment Model Market 2023-2030 ($M)
14.1 On-Premise Market 2023-2030 ($M) - Regional Industry Research
14.2 On-Cloud Market 2023-2030 ($M) - Regional Industry Research
15.South America Market Analysis By Organization Size Market 2023-2030 ($M)
15.1 Enterprise Market 2023-2030 ($M) - Regional Industry Research
15.2 Small & Medium Business Market 2023-2030 ($M) - Regional Industry Research
16.South America Workforce Analytics Market Analysis By Vertical Market 2023-2030 ($M)
16.1 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
16.2 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
16.3 Healthcare Market 2023-2030 ($M) - Regional Industry Research
16.4 Retail Market 2023-2030 ($M) - Regional Industry Research
16.5 Government & Public Sector Market 2023-2030 ($M) - Regional Industry Research
16.6 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
16.7 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
17.Europe Workforce Analytics Market Analysis By Type Market 2023-2030 ($M)
17.1 Solutions Market 2023-2030 ($M) - Regional Industry Research
17.2 Services Market 2023-2030 ($M) - Regional Industry Research
17.2.1 Consulting Services Market 2023-2030 ($M)
17.2.2 System Integration Market 2023-2030 ($M)
17.2.3 Managed Services Market 2023-2030 ($M)
18.Europe Market Analysis By Deployment Model Market 2023-2030 ($M)
18.1 On-Premise Market 2023-2030 ($M) - Regional Industry Research
18.2 On-Cloud Market 2023-2030 ($M) - Regional Industry Research
19.Europe Market Analysis By Organization Size Market 2023-2030 ($M)
19.1 Enterprise Market 2023-2030 ($M) - Regional Industry Research
19.2 Small & Medium Business Market 2023-2030 ($M) - Regional Industry Research
20.Europe Workforce Analytics Market Analysis By Vertical Market 2023-2030 ($M)
20.1 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
20.2 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
20.3 Healthcare Market 2023-2030 ($M) - Regional Industry Research
20.4 Retail Market 2023-2030 ($M) - Regional Industry Research
20.5 Government & Public Sector Market 2023-2030 ($M) - Regional Industry Research
20.6 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
20.7 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
21.APAC Workforce Analytics Market Analysis By Type Market 2023-2030 ($M)
21.1 Solutions Market 2023-2030 ($M) - Regional Industry Research
21.2 Services Market 2023-2030 ($M) - Regional Industry Research
21.2.1 Consulting Services Market 2023-2030 ($M)
21.2.2 System Integration Market 2023-2030 ($M)
21.2.3 Managed Services Market 2023-2030 ($M)
22.APAC Market Analysis By Deployment Model Market 2023-2030 ($M)
22.1 On-Premise Market 2023-2030 ($M) - Regional Industry Research
22.2 On-Cloud Market 2023-2030 ($M) - Regional Industry Research
23.APAC Market Analysis By Organization Size Market 2023-2030 ($M)
23.1 Enterprise Market 2023-2030 ($M) - Regional Industry Research
23.2 Small & Medium Business Market 2023-2030 ($M) - Regional Industry Research
24.APAC Workforce Analytics Market Analysis By Vertical Market 2023-2030 ($M)
24.1 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
24.2 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
24.3 Healthcare Market 2023-2030 ($M) - Regional Industry Research
24.4 Retail Market 2023-2030 ($M) - Regional Industry Research
24.5 Government & Public Sector Market 2023-2030 ($M) - Regional Industry Research
24.6 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
24.7 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
25.MENA Workforce Analytics Market Analysis By Type Market 2023-2030 ($M)
25.1 Solutions Market 2023-2030 ($M) - Regional Industry Research
25.2 Services Market 2023-2030 ($M) - Regional Industry Research
25.2.1 Consulting Services Market 2023-2030 ($M)
25.2.2 System Integration Market 2023-2030 ($M)
25.2.3 Managed Services Market 2023-2030 ($M)
26.MENA Market Analysis By Deployment Model Market 2023-2030 ($M)
26.1 On-Premise Market 2023-2030 ($M) - Regional Industry Research
26.2 On-Cloud Market 2023-2030 ($M) - Regional Industry Research
27.MENA Market Analysis By Organization Size Market 2023-2030 ($M)
27.1 Enterprise Market 2023-2030 ($M) - Regional Industry Research
27.2 Small & Medium Business Market 2023-2030 ($M) - Regional Industry Research
28.MENA Workforce Analytics Market Analysis By Vertical Market 2023-2030 ($M)
28.1 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
28.2 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
28.3 Healthcare Market 2023-2030 ($M) - Regional Industry Research
28.4 Retail Market 2023-2030 ($M) - Regional Industry Research
28.5 Government & Public Sector Market 2023-2030 ($M) - Regional Industry Research
28.6 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
28.7 Travel & Hospitality Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Workforce Analytics Market Revenue, 2023-2030 ($M)2.Canada Workforce Analytics Market Revenue, 2023-2030 ($M)
3.Mexico Workforce Analytics Market Revenue, 2023-2030 ($M)
4.Brazil Workforce Analytics Market Revenue, 2023-2030 ($M)
5.Argentina Workforce Analytics Market Revenue, 2023-2030 ($M)
6.Peru Workforce Analytics Market Revenue, 2023-2030 ($M)
7.Colombia Workforce Analytics Market Revenue, 2023-2030 ($M)
8.Chile Workforce Analytics Market Revenue, 2023-2030 ($M)
9.Rest of South America Workforce Analytics Market Revenue, 2023-2030 ($M)
10.UK Workforce Analytics Market Revenue, 2023-2030 ($M)
11.Germany Workforce Analytics Market Revenue, 2023-2030 ($M)
12.France Workforce Analytics Market Revenue, 2023-2030 ($M)
13.Italy Workforce Analytics Market Revenue, 2023-2030 ($M)
14.Spain Workforce Analytics Market Revenue, 2023-2030 ($M)
15.Rest of Europe Workforce Analytics Market Revenue, 2023-2030 ($M)
16.China Workforce Analytics Market Revenue, 2023-2030 ($M)
17.India Workforce Analytics Market Revenue, 2023-2030 ($M)
18.Japan Workforce Analytics Market Revenue, 2023-2030 ($M)
19.South Korea Workforce Analytics Market Revenue, 2023-2030 ($M)
20.South Africa Workforce Analytics Market Revenue, 2023-2030 ($M)
21.North America Workforce Analytics By Application
22.South America Workforce Analytics By Application
23.Europe Workforce Analytics By Application
24.APAC Workforce Analytics By Application
25.MENA Workforce Analytics By Application
26.IBM Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Oracle Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.SAP Se, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Tableau Software, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Cornerstone Ondemand, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Kronos Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Visier Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Workforce Software, Sales /Revenue, 2015-2018 ($Mn/$Bn)