According to a new market research report published by Credence Research “Global Workforce Analytics Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the workforce analytics market is set to grow with a CAGR of 16.5% during the forecast period.
Market Insights
The workforce analytics market is driven by the need for standard performance indicators to evaluate workforce performance among organizations. The workforce analytics solution allows enterprises to analyze the huge chunks of the unstructured data to extract actionable insights pertaining to human resource utilization in real-time. Moreover, the solutions enable enterprises to optimize data virtualization, storage optimization, and work management. This is driving the demand for the workforce analytics solution among the organizations.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/workforce-analytics-market
The increasing adoption of cloud based services among organizations is acting also as driving the market growth. As the business dynamics are changing and competition among the market players is increasing, organizations are adopting cloud based solutions to enhance their operational efficiency and reduce the cost of operation. The cloud based solution works effectively with analytics solutions that enable the organization to gain flexibility and agility.
The workforce analytics market is segmented based on the type into aerospace & defense, BFSI, healthcare, manufacturing, retail, telecom and IT. BFSI segment accounted for the majority share in the revenue in 2018. The increasing digitalization across the BFSI sector is the major factor in driving the market growth. On the other hand, the retail sector is estimated to grow significantly during the forecast period. The implementation of advanced software solutions to automate the human resource process is propelling market growth.
Asia Pacific’s workforce analytics market is anticipated to grow considerably during the forecast period. The wide-scale adoption of the cloud-based solution among the SMEs is the primary factor accelerating the adoption of the solutions. Furthermore, the growing adoption of the workforce analytics solution among the retail and BFSI sector is propelling market growth.
List of Companies Covered:
- ADP LLC
- Aquire Inc.
- Cornerstone OnDemand Inc.
- Genpact Ltd.
- IBM Corporation
- Kronos Inc.
- Oracle Corporation
- PeopleSreme Pty Ltd
- SAP SE
- Tableau Software
- Visier Inc.
- Workforce Software LLC.
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Report Scope by Segments
By Component Segment
• Software
• Services
o Professional Service
o Managed Service
By Deployment Segment
• On-Premise
• Cloud
By Application Segment
• Aerospace & Defense
• BFSI
• Healthcare
• Manufacturing
• Retail
• Telecom and IT
• Others
By Geography Segment
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
Key questions answered in this report
- What was the market size of workforce analytics in 2018 and forecast up to 2027?
- Which is the largest regional market for workforce analytics?
- What are the major trends followed in the workforce analytics market across different regions?
- Who are the key companies in the workforce analytics market?
- What are the key strategies adopted by the leading workforce analytics companies in the market?
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