Global workforce analytics market is expected to reach USD 1056.38 million by 2022, growing at a CAGR of 15% between 2017 and 2022.
The report covers forecast and analysis for the workforce analytics market on a global and regional level. The study provides historic data of 2014, 2015 and 2016 along with a forecast from 2017 to 2022 based on revenue (USD Million). The study includes drivers and restraints for the workforce analytics market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the workforce analytics market on a global level.
In order to give the users of this report a comprehensive view on the workforce analytics market, we have included a detailed competitive scenario, and workforce analytics type portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the workforce analytics market has also been included. The study encompasses a market attractiveness analysis, wherein deployment and vertical segments are benchmarked based on their market size, growth rate, and general attractiveness.
Workforce analytics market is segmented on the basis of deployment mode, vertical and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. Deployment mode segment under this study includes on premises and cloud. The vertical segment includes BFSI, government, retail, healthcare, manufacturing, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.
Key players profiled in the report include Visier Inc., Genpact Ltd., SAP Success Factors, Peoplefluent companies, Kronos Inc., Aquire Inc., Workday Inc., PeopleStreme Pty. Ltd., Towers Watson & Co., Oracle Corporation, Cornerstone OnDemand Inc., WorkForce Software LLC, and Tableau Software Inc. The detailed description of players includes parameters such as company overview, financial overview, business, and recent developments and SWOT analysis of the company.
The report segments workforce analytics market into:
Global Workforce Analytics Market: Deployment Mode Segment Analysis
Global Workforce Analytics Market: Vertical Segment Analysis
Global Workforce Analytics Market: Region Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Workforce Analyticsmarket. Zion Research has collected and analyzed key data belong to the global Workforce Analytics market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Workforce Analytics across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Workforce Analytics industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Workforce Analytics market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Workforce analytics is the tool which analyses the performance of employees and workers and gives a report to the management for efficient productivity. This tool is very helpful in improving recruitment, training and other human resource work related to workers. It is an advanced set of tool for workforce measurement and performance. Workforce analytics tool analyzes recruitment, staffing, training and development, personnel, and compensation and benefits, standard ratios of cost per hire, accession rate, retention rate, and rate, replacement rate, time to start and offer acceptance rate. Acquiring, rewarding and retaining these are the issues related to the workforce are likely to be prominent on business meeting agendas. Tactical issues like disparate HR systems, need for consolidated reporting, need for global and historical data management, self-service reporting, and the need for basic reporting these are the challenges faced by organizations And workforce analytics is the solution for these issues. To analyze task force of company workforce analytics system plays very important role.
Increasing massive amount of workforce data in HR department drives the global workforce analytics market. Additionally, increasing adoption of technology such as automation system as well as increasing employee and rising need of streamlining business processes are the key driver of the workforce analytics market. Increasing need for return on investment (ROI) and effective productivity in business operation drives the global workforce analytics market. Increasing need to make a smarter decision about the talent drives the workforce analytics market during the forecasted period. Lack of awareness among the organizations, especially those organizations which are new in the market and targeting to achieve market share restraints the global workforce analytics market. Due to data security concerns, many organizations shifted to the cloud, this factor restrains the market. Adoption of workforce analytics from small and medium businesses and growing demand for mobile applications are expected to fuel global workforce analytics market.
Workforce analytics market is segmented on the basis of deployment mode, vertical and region. Deployment mode segment consists of on-premise and cloud. On premise, workforce analytics require organization network and infrastructure within the company. Whereas cloud based workforce analytics system has cloud storage system. Increase in awareness of data security and data tampering many organizations shifted to the cloud based system of workforce analytics. The vertical segment includes BFSI, government, retail, healthcare, manufacturing, and others. Banking and financial companies are adopting workforce analytics tools to improve the productivity of employees. Manufacturing and healthcare industries adopted workforce analytics to improve the efficiency of workers as organizational growth in this industry is depends on the efficiency of people. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.
The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Visier Inc., Genpact Ltd., SAP Success Factors, Peoplefluent companies, Kronos Inc., Aquire Inc., Workday Inc., PeopleStreme Pty. Ltd., Towers Watson & Co., Oracle Corporation, Cornerstone OnDemand Inc., WorkForce Software LLC, and Tableau Software Inc.