Global Workforce Analytics Market
The Workforce Analytics Market has been growing at a faster pace with significant growth rates during the last few years and is anticipated to grow significantly in the forecast period from 2021 to 2027.
By Organization Size (Large Enterprises, Small and Medium Organizations), Component (Solution, Services), Deployment Model (Private Cloud, Public Cloud), Vertical, and Regional Market Size, Status and Forecast to 2027
Market Overview:
The Global Workforce Analytics Market was valued at 767.11 million in 2019 and is projected to reach USD2238.18 million by 2027, growing at a CAGR of 15.45% from 2020 to 2027.
Workforce analytics is a type of analytics that focuses on workforce metrics and optimization. Workforce analytics uses a combination of data analysis tools and statistical methods to measure workforce performance, worker-related data, allowing leaders to improve the effectiveness of people-related decision-making and human resources strategy. Benefits of workforce analytics include – anticipate workforce disruption before they strike, deliver smarter business-focused insights, empower managers within the organization, strengthens stronger team cohesion and organizational values.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Rising adoption by small and medium businesses
1.2 Increasing demand for mobile applications
1.3 Rapidly changing work dynamics
1.4 Growing need to make smarter decisions
1.5 Growing volume of data in HR departments
2. Market Restraints
2.1 Lack of technical expertise for analysis
2.2 Concerns for data security and privacy
2.3 Poor knowledge and resistance to change
Market Segmentation:
The Global Workforce Analytics Market is segmented on the organization size, component, deployment model, vertical, and region.
1. Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Organizations
2. By Component:
2.1 Solution
2.2 Services
2.2.1 Managed services
2.2.2 Professional services
2.2.2.1 System integration services
2.2.2.2 Consulting services
3. By Deployment Mode:
3.1 Private Cloud
3.2 Public Cloud
4. By Vertical:
4.1 Healthcare
4.2 Government
4.3 IT and Telecom
4.4 Banking, Financial Services, and Insurance (BFSI)
4.5 Travel and Hospitality
4.6 Retail
4.7 Manufacturing
4.8 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. IBM Corporation
2. Workforce Software
3. SAP SE
4. Kronos Inc.
5. Tableau Software
6. Visier Inc.
7. Oracle Corporation
8. Workday, Inc.
9. ADP, LLC.
10. Cornerstone Ondemand
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Workforce Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team.
