HR Analytics Market Overview
Projected across the envisaged period, Maximize Market Research envisions a significant upward trajectory in the market, advancing from a valuation of US$ 3.35 Bn. in 2022 to attain US$ 8.55 Bn. by 2029, achieving an admirable Compound Annual Growth Rate (CAGR) of 14.30 percent. The scrutiny of the HR Analytics Market, evaluated by Maximize Market Research, entails an exhaustive exploration of regional intricacies and the competitive landscape.
HR Analytics Market Scope and Methodology
The competitive landscape is examined by considering various parameters such as product offerings, revenue generation, technological advancements, and mergers and acquisitions. The report employs a bottom-up approach for HR Analytics Market estimation. Data is collected through primary and secondary databases, with both qualitative and quantitative analysis. Primary data is obtained through surveys, questionnaires, and telephonic interviews with HR Analytics market leaders and business owners. The report utilizes research tools such as SWOT, PESTLE, and Porter’s Five Forces Analysis for in-depth market analysis. SWOT analysis helps organizations gain a comprehensive understanding of factors that impact business decisions in the market, while PESTLE analysis provides insights into growth targets and risks affecting market productivity. Overall, the report serves as a valuable guide for investors, stakeholders, and market followers, assisting them in making informed decisions within the HR Analytics Market.
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HR Analytics Market Regional Insights
The report offers an all-encompassing evaluation of diverse elements, encompassing aspects like market dimensions, rate of expansion, and the intricacies of import-export undertakings, spanning multiple geographic zones. The assessment of regional dynamics is conducted to gauge the state of the HR Analytics market across nations falling within North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. This market, denoted as HR Analytics, is broadly categorized into these delineated regions, facilitating an in-depth comprehension of the market’s topography and the ever-evolving forces within each specific geographical domain.
HR Analytics Market Dynamics:
The two main factors driving the growth of the HR analytics market are the expanding requirement to hire qualified workers using cutting-edge techniques like analytics and the increasing internationalization of the workforce. Businesses can concentrate more on enhancing worker productivity and engagement. Furthermore, the HR analytics market is anticipated to be driven in the near future by SMEs’ increasing adoption of HR analytics solutions. Due to their efficiency and cost-effectiveness, cloud-based solutions are becoming more and more popular among enterprises, which is propelling the market ahead.
The current trend of using technological advancements like artificial intelligence (AI) and the internet of things (IoT) to enhance software designs in accordance with client needs is probably going to open up a number of doors for market growth. But keeping an eye on and gathering huge datasets with fresh Data forecasts and cloud-based systems are two examples of technology that can raise ethical concerns. The growing market is threatened by security worries about the greater likelihood of data breaches and cyberattacks, since small and medium-sized enterprises (SMEs) are more likely to use public cloud services because of their affordability.
HR Analytics Market Segmentation
by Solution
Employee Engagement & Development
Payroll & Compensation
Recruitment
Retention
Talent Analytics
Workforce Planning
Others
The workforce planning category produced a significant portion of US$ Mn in 2022 based on solution. The IT and telecom category is anticipated to lead the market over the forecast period, based on the end-user industry. Businesses in the telecom and IT sectors are growing internationally, which raises the requirement for effective HR analytics solutions as it becomes more difficult to manage a workforce that is dispersed over the globe. Based on the deployment methodology, on-premise solutions were the most popular since they provide the tractability needed to modify operations and improve plug-ins as needed. Over the course of the forecast period, the cloud segment is anticipated to develop at the greatest CAGR.
by Service
Implementation & Integration
Support & Maintenance
Training & Consulting
by Deployment Model
Cloud
On-premise
by Enterprise Size
Large Enterprise
Small & Medium Enterprise
by End-user
Academia
BFSI
Government
Healthcare
IT & Telecom
Manufacturing
Retail
Others
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HR Analytics Market Key Players
2. Infor
3. Crunchr
4. Sisense
5. Cognizant Technology Solutions Corp.
6. Accenture plc
7. Infosys Limited
8. ADP LLC
9. Ascentis Software Corporation
10. Genpact Ltd.
11. Cornerstone OnDemand, Inc.
12. Beeline
13. GainInsights Solutions Pvt. Ltd.
14. Paylocity
15. Nakisa, Inc.
16. PeopleFluent Companies
17. PeopleStreme Pty. Ltd
18. Visier, Inc.
19. TALENTSOFT
20. Oracle
21. SAP SE
22. Kronos Incorporated
23. Talentsoft
24. TABLEAU SOFTWARE
25. Sage Software Solutions Pvt Ltd
26. Zoho Corporation Pvt. Ltd.
27. Workday, Inc.
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Key questions answered in the HR Analytics Market are:
- What is HR Analytics?
- What was the HR Analytics market size in 2022?
- What are the different segments of the HR Analytics Market?
- What growth strategies are the players considering to increase their presence in HR Analytics?
- What are the upcoming industry applications and trends for the HR Analytics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the HR Analytics Market?
- What major challenges could the HR Analytics Market face in the future?
- What segments are covered in the HR Analytics Market?
- Who are the leading companies and what are their portfolios in HR Analytics Market?
- What segments are covered in the HR Analytics Market?
- Who are the key players in the HR Analytics market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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