Overview and Scope
The workforce analytics refer to advanced algorithm-based analytical software and tools used to analyze employee-related data for performance measurement and improvement. It collects and accumulates all data from internal and external sources and analyzes it to gain insights about the employees within the organization to improve workplace planning and management. These tools and technologies help to understand specific trends such as attrition rate, efficiency, and learning efficacy.
Sizing and Forecast
The workforce analytics market size has grown rapidly in recent years. It will grow from $1.6 billion in 2023 to $1.82 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to regulatory compliance and reporting, cloud-based solutions adoption, integration with hr management systems, predictive analytics for retention, diversity and inclusion analytics, efficiency and productivity improvement, talent acquisition optimization
The workforce analytics market size is expected to see rapid growth in the next few years. It will grow to $3.23 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to vendor innovation and competition, industry-specific analytics solutions, global economic conditions and recovery, focus on learning and development analytics, growth in mid-sized enterprises adoption.. Major trends in the forecast period include workforce resilience planning, employee productivity measurement, ai and machine learning integration, utilization of people metrics for business strategy, real-time performance monitoring.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/workforce-analytics-global-market-report
Segmentation & Regional Insights
The workforce analytics market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Large Enterprises, SMEs
4) By Industry Vertical: BFSI, Manufacturing, Healthcare, Government, Retail, IT and Telecom, Education, Other Industry Verticals
North America was the largest region in the workforce analytics market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the workforce analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6974&type=smp
Major Driver Impacting Market Growth
The increasing investment in workforce analytics is expected to propel the workforce analytics market. Many organizations are considering increasing their investments in workforce analytics as it assists enterprises in improving the productivity of the employees, developing effective recruiting methods, deriving better hiring decisions, retaining the best talent, efficient use of the workforce, and effective workforce planning. Workforce analytics uses the latest technologies and metrics to improve the workforce and management that offers a great return on investment in the long run. For instance, in September 2022, according to an article published by Randstad, a Netherlands-based HR services company, Randstad Sourceright’s 2022 Talent trends study shows, 73% of talent leaders are investing in HR and workforce analytics. Therefore, the increasing investment in workforce analytics is expected to boost demand for workforce analytics solutions and services during the forecast period.
Key Industry Players
Major companies operating in the workforce analytics market report are ADP LLC (Automatic Data Processing Inc. ), Cornerstone OnDemand Inc., International Business Machines Corporation (IBM), Kronos Incorporated, Oracle Corporation, Accenture plc, Capgemini SE, Tableau Software LLC, Workday Inc., PeopleStreme Pty Ltd, Microsoft Corporation, Visier Inc., UKG Inc. (Ultimate Kronos Group), SAP SE, Beeline. com Ltd., Brightfield Strategies LLC, Bullhorn Inc., Cisco Systems Inc., Talentsoft SA, Trianz Holdings Pvt. Ltd., Genpact Limited, Deloitte Touche Tohmatsu Limited, Cognizant Technology Solutions Corporation, Infosys Limited, Wipro Limited, HCL Technologies Limited, NICE Systems Ltd., Verint Systems Inc., WorkForce Software LLC, Google LLC
The workforce analytics market report table of contents includes:
1. Executive Summary
2. Workforce Analytics Market Characteristics
3. Workforce Analytics Market Trends And Strategies
4. Workforce Analytics Market – Macro Economic Scenario
5. Global Workforce Analytics Market Size and Growth
.
.
.
26. South America Workforce Analytics Market
27. Brazil Workforce Analytics Market
28. Middle East Workforce Analytics Market
29. Africa Workforce Analytics Market
30. Workforce Analytics Market Competitive Landscape And Company Profiles
Top Major Players:
- ADP LLC
- Cornerstone OnDemand Inc
- International Business Machines Corporation (IBM)
- Kronos Incorporated
- Oracle Corporation
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
