According to new market research report "HR Analytics Market by Component, Application Area (Workforce
Management, Recruitment, and Employee Development), Organization Size,
Deployment Type, Vertical (BFSI, Manufacturing, and IT and Telecom), and Region
- Global Forecast to 2024", is expected to grow from USD 1.9 billion in 2019 to USD 3.6
billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.7% during the
forecast period. The increasing demand to automate HR processes, scaling HR
personnel effort with the help of advanced technologies, and growing need
to enhance workforce engagement are some of the major factors driving the
growth of the HR analytics market.
Browse and in-depth TOC on “HR Analytics Market”
70 - Tables
34 - Figures
135 - Pages
The workforce management segment to hold the largest
market size during the forecast period
The workforce management application area is widely adopted
across verticals, owing to the need to place right people at right job for
meeting business objectives. Labor is one of the biggest expenses to be bared
by organizations. The use of HR analytics enables organizations to predict and
forecast an accurate number of employees required to complete a particular job.
Enterprises employ the HR analytics solution for standardizing processes across
varied departments. The adoption of the HR analytics solution enables
organizations to increase employees’ productivity, performance, and
satisfaction.
The Banking, Financial Services, and Insurance (BFSI)
vertical to hold the largest market size during the forecast period
The BFSI vertical is undergoing massive disruption, due to
regulatory changes and competitive pressures. It is facing unique challenges,
such as low-profit margins, information security threats, and compliance
requirements. The challenges encourage the BFSI vertical to adopt HR analytics
for aligning workforce to streamline operations and minimizing workforce costs.
With the advent of mobile technology, customer preferences and behavior are
changing. Enterprises are emphasizing on adopting the HR analytics solution to
boost the performance of their sales employees and marketing representatives.
The solution leads to better customer satisfaction and engagement.
The solution segment to hold a larger market size during
the forecast period
The HR analytics solution has a wide scope of usage among
enterprises, as it assists businesses in managing different applications, such
as payroll, retention, recruitment, workforce management, employee engagement,
and employee development. This has created opportunities for vendors to provide
the HR analytics solution to enterprises across different verticals and help
them in managing complex functions, such as recruiting, on-boarding, and
training of employees.
North America to hold the largest market size during the
forecast period
North America is estimated to account for the highest market
share in 2019. The region comprises developed countries, such as the US and
Canada, and is considered the most advanced region in terms of adopting digital
technologies. The North American region houses key industry players offering HR
analytics solution and services. Its financial position enables it to invest
majorly in leading solutions and technologies for effective business
operations.
The key vendors in the HR analytics market are Oracle (US), SAP
(Germany), Infor (US), Workday (US), Sage Software (UK), Kronos (US),
MicroStrategy (US), IBM (US), Tableau (US), Zoho (India), Crunchr (Netherland),
Visier (Canada), TALENTSOFT (Paris), GainInsights (India), and Sisense(US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000
high growth niche opportunities/threats which will impact 70% to 80% of
worldwide companies’ revenues. Currently servicing 7500 customers worldwide
including 80% of global Fortune 1000 companies as clients. Almost 75,000 top
officers across eight industries worldwide approach MarketsandMarkets™ for
their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are
tracking global high growth markets following the "Growth Engagement Model
– GEM". The GEM aims at proactive collaboration with the clients to
identify new opportunities, identify most important customers, write
"Attack, avoid and defend" strategies, identify sources of
incremental revenues for both the company and its competitors.
MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top
players across leaders, emerging companies, innovators, strategic players)
annually in high growth emerging segments. MarketsandMarkets™ is determined to
benefit more than 10,000 companies this year for their revenue planning and
help them take their innovations/disruptions early to the market by providing
them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market
research platform, "Knowledgestore" connects over 200,000 markets and
entire value chains for deeper understanding of the unmet insights along with
market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/hr-analytics.asp
Report: https://www.marketsandmarkets.com/Market-Reports/hr-analytics-market-94472004.html
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/hr-analytics.asp
Report: https://www.marketsandmarkets.com/Market-Reports/hr-analytics-market-94472004.html
No comments:
Post a Comment