Dublin, June 19, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global HR analytics market size is expected to grow from USD 1,917 million in 2019 to USD 3,642 million by 2024, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period.
Employees are vital assets for organizations and contribute largely to the growth of the organization. Thus, engaging employees; increasing the productivity of employees; and recruiting, training, and retaining potential employees are the critical aspects of an organization. Enterprises deploy various solutions, including Human Resource Management (HRM), Human Capital Management (HCM), and Human Resources Information System (HRIS), to effectively manage HR activities.
Enterprises generate large volumes of data by implementing these solutions. The HR analytics solution helps enterprises find patterns in data. Organizations are looking for innovative ways to augment the performance of their employees by simplifying real-time collaboration among the employees who work in remote locations, thereby enhancing organizational efficiency.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the HR Analytics Market
4.2 Market in North America, By Vertical and Country
4.3 Market Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption Among Enterprises to Make Data-Driven Decisions
5.2.1.2 Rising Demand for Workforce Optimization and Talent Mobility
5.2.2 Restraints
5.2.2.1 Varying Structure of Regulatory Policies and Data Regulations
5.2.2.2 Cultural Barrier to Adopt Advanced Solutions Over Traditional Systems
5.2.3 Opportunities
5.2.3.1 Availability of Huge Volume of HR Data and Increase in Number of Data Sources
5.2.3.2 Increasing Adoption of Artificial Intelligence and Machine Learning to Assist Decision-Making
5.2.4 Challenges
5.2.4.1 Inconsistent and Unstructured Data Format
5.2.4.2 Prevalent Concerns Over Deployment and Usage of Advanced Solutions
5.3 Industry Trends
5.3.1 Use Case 1: Kronos
5.3.2 Use Case 2: Crunchr
5.3.3 Use Case 3: Talentsoft
6 HR Analytics Market By Component
6.1 Introduction
6.2 Solution
6.2.1 Changing Workforce Dynamics and Rapidly Increasing Amount of HR Data to Drive Growth of Solution Segment
6.3 Services
6.3.1 Implementation and Integration
6.3.1.1 Increasing Focus on Ensuring Smooth Integration With Various HR Systems to Drive Demand for Implementation and Integration Services
6.3.2 Advisory Services
6.3.2.1 Increasing Adoption of Complex Analytical Tools to Drive Demand for Advisory Services
6.3.3 Support and Maintenance
6.3.3.1 Growing Need for Updating HR Analytics Solution to Spur Demand for Support and Maintenance Services
7 HR Analytics Market By Application Area
7.1 Introduction
7.1.1 Payroll
7.1.1.1 Increasing Focus on Attracting Top Talents to Drive Demand for HR Analytics
7.1.2 Retention
7.1.2.1 Growing Need to Keep Attrition Rate Low to Increase Demand for HR Analytics
7.1.3 Recruitment
7.1.3.1 Growing Need to Improve Hiring Process to Drive Adoption of HR Analytics
7.1.4 Workforce Management
7.1.4.1 Increasing Demand for Workforce Optimization to Boost Growth of HR Analytics Market
7.1.5 Employee Engagement
7.1.5.1 Growing Focus on Keeping Employees Engaged and Happy to Drive Demand for HR Analytics
7.1.6 Employee Development
7.1.6.1 Increasing Demand to Bridge Skill Gap to Boost Demand for HR Analytics
8 HR Analytics Market By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.2.1 Increasing Need to Analyze Employee Data for Achieving Organizational Goals to Drive HR Analytics Adoption Among Large Enterprises
8.3 Small and Medium-Sized Enterprises
8.3.1 Focus on Improving Operational Efficiency and Profit to Boost Growth of Market in Small and Medium-Sized Enterprises Segment
9 HR Analytics Market By Deployment Type
9.1 Introduction
9.2 On-Premises
9.2.1 Concerns Over Security of Sensitive Data to Drive Adoption of On-Premises HR Analytics Solution
9.3 Cloud
9.3.1 Scalability, Enhanced Collaboration, and Cost-Effectiveness to Boost Adoption of Cloud HR Analytics Solution
10 HR Analytics Market By Vertical
10.1 Introduction
10.2 Consumer Goods and Retail
10.2.1 Growing Need to Enhance Employee Skills to Drive Growth of Market in Consumer Goods and Retail Vertical
10.3 Banking, Financial Services, and Insurance
10.3.1 Focus on Building Highly Engaged Workforce to Spur Demand for HR Analytics in Banking, Financial Services, and Insurance Vertical
10.4 IT and Telecom
10.4.1 Growing Need to Match Employment Requirements to Drive Growth of Market in IT and Telecom Vertical
10.5 Manufacturing
10.5.1 Need to Track Performance of Employees to Increase Implementation of HR Analytics Solution in Manufacturing Vertical
10.6 Healthcare
10.6.1 Management of Rotational Shifts for Offering Services to Patients to Boost Growth of Market in Healthcare Vertical
10.7 Education
10.7.1 Automation of HR Processes to Drive Growth of Market in Education Vertical
10.8 Others
11 HR Analytics Market By Region
Companies Mentioned
- Crunchr
- Gaininsights
- IBM
- Infor
- Kronos
- Microstrategy
- Oracle
- Sage Software
- SAP
- Sisense
- Tableau
- Talentsoft
- Visier
- Workday
- Zoho
For more information about this report visit https://www.researchandmarkets.com/r/dbu2qk
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