Global Workforce Analytics 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.
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.
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Workforce Analytics Type Outlook (Revenue, USD Million; 2014 – 2025)
Workforce Analytics Services Outlook (Revenue, USD Million; 2014 – 2025)
• System Integration
Workforce Analytics Deployment Outlook (Revenue, USD Million; 2014 – 2025)
Workforce Analytics Application Outlook (Revenue, USD Million; 2014 – 2025)
• IT & Telecommunication
• Aerospace & Defense
Workforce Analytics Regional Outlook (Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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