Global WorkforceAnalytics Market is expected to reach USD 1.87 billion by 2025. Workforce analytics is a combination of methodology and software that covers statistical models to worker-related data, letting manufacturers to enhance human resource management (HRM). These tools are used to present complete worker performance to deliver a well understanding and assist in overall management. The Workforce Analytics Market is estimated to grow at a significant CAGR of 16.0% over the forecast period as the scope and its applications are rising enormously across the globe.
Increasing
enhancement in technology and growing global trade are documented as major
factors of Workforce Analytics Market that are estimated to enhance the growth
in the years to come. However, data security concern may restrain overall
market in the coming years. Workforce Analytics industry is segmented based on
type, deployment type, organization size, vertical, and region.
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Services
and solutions are the types that could be explored in Workforce Analytics in
the forecast period. Services sector may comprise of managed services,
consulting services, and system integration services. The workforce analytics
solutions sector accounted for the substantial market share of Workforce
Analytics and is estimated to lead the overall market in the coming years. This
may be because of increasing workforce challenges faced by the organizations
across the globe. In addition, the services sector is estimated to grow at
fastest pace in the coming years.
Private
cloud and public cloud are the deployment type that could be explored in
Workforce Analytics in the forecast period. Small & medium-sized enterprise
and large enterprise are the organization size that could be explored in
Workforce Analytics in the forecast period.
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The
market may be categorized based on verticals like manufacturing, BFSI, travel
& hospitality, energy & utilities, telecom & it, government &
public sector, healthcare, retail, and others could be explored in the forecast
period. The banking, financial services, and insurance (BFSI) sector accounted
for the substantial market share of Workforce Analytics and is estimated to
continue its dominance in the coming years. However, healthcare sector is
estimated to grow at highest CAGR in the coming years.
Globally,
North America accounted for the substantial market share of Workforce Analytics
and is estimated to lead the overall market in the coming years. The reason
behind the overall market growth could be presence of key manufacturers in the region.
Instead, Europe and the Asia Pacific are also estimated to have a positive
influence on the future growth. Europe is the second largest region with
significant market share. However, Asia Pacific is estimated to grow at fastest
pace with the highest CAGR in the foremost period. The developing countries
like India and China are the major consumers of Workforce Analytics in this
region.
The
key players of Workforce Analytics Market are IBM Corporation, ADP LLC, Oracle
Corporation, Tableau Software, Genpact Ltd., and SAP Se. These players are
concentrating on inorganic growth to sustain themselves amongst fierce
competition. As companies all over the world have to believe that alliance with
a market would permit them proportional market existence and authority to
declare the leadership position.
Market
Segment:
Workforce
Analytics Type Outlook (Revenue, USD Million; 2014 - 2025)
• Solution
• Services
Workforce
Analytics Services Outlook (Revenue, USD Million; 2014 - 2025)
• Managed
• Consulting
• System Integration
Workforce
Analytics Deployment Outlook (Revenue, USD Million; 2014 - 2025)
• Cloud
• On-premise
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