Global Workforce Analytics Market Will Reach USD 1056.38 Million by 2022: Zion Market Research

According to the report, global workforce analytics market was valued at approximately USD 459.14 million in 2016 and is expected to reach approximately USD 1056.38 million by 2022, growing at a CAGR of around 15% between 2017 and 2022.

Sarasota, FL, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Workforce Analytics Market by Deployment Mode (On-Premises and Cloud) for Verticals (BFSI, Government, Retail, Healthcare, Manufacturing, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022”. According to the report, global workforce analytics market was valued at approximately USD 459.14 million in 2016 and is expected to reach approximately USD 1056.38 million by 2022, growing at a CAGR of around 15% between 2017 and 2022. 
Workforce analytics is the tool which combines software and methodology which gives measurable and effective structure to employee-related data, which optimizes work of human resource. Workforce analytics is the tool which analyses the performance of employees and workers and gives a report to the management for efficient productivity. This tool is very helpful in improving recruitment, training and other human resource work related to workers. It helps top management to decide which employees are good for the company. The workforce is the tool which analyses and predicts the profitability of an individual employee’s success.  

Browse through 30 Market Tables and 22 Figures spread through 110 Pages and in-depth TOC on "Global Workforce Analytics Market: By Type, Verticals, Size, Share, Trends and Forecast 2016 – 2022”.

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Economic effect, labor shortage, and many other crises are facing by developing and developed countries across the globe. So it is very important for global businesses to manage and analyze the workforce effectively.  Increased focus on streamlining business processes and technology advancement along with growing size of companies, these are the key driver of the workforce analytics market. Workforce analytics software creates an unlimited number of automated business applications that make work more reliable and flexible.  Increasing need to make a smarter decision about the talent drives the workforce analytics market. Increasing competition among businesses demands effective business operation, which can be achieved by handling and managing workforce effectively. Due to globalization, companies are changing their business strategies and working dynamics. And this factor is also driving the global workforce analytics market. Lack of awareness in modern workforce analytics restraints the global workforce analytics market. Furthermore, adoption of workforce analytics from small and medium businesses and growing demand for mobile applications are expected to fuel global workforce analytics market. 

Workforce analytics market is segmented on the basis of deployment mode, vertical and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. Deployment mode segment under this study includes on-premises and cloud. The Recent scenario shows that cloud-based workforce analytics is leading segment in this market. Software provider such as SaaS is leading in the cloud. Because of easy installation and user-friendly characteristic, the cloud is becoming the favorable thing workforce analytics system. The vertical segment includes BFSI, government, retail, healthcare, manufacturing, and others.

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North America is holding largest market share in a workforce analytics market as large number of vendors are present in North America. Shift to SaaS i.e. software as a service in cloud-based workforce analytics by North American customers drives North America workforce analytics market. Increasing adoption of cloud-based workforce analytics from U.S. companies makes North America market leader in workforce analytics market. Providing building blocks for country-specific and industry-specific compliance regulations, labor laws and language requirement by manufacturers of cloud workforce analytics drive this market in North America. With the increase in manufacturers and vendors of workforce analytics, North America remains its top position in next few years.

Increasing need for task force analysis among the European companies takes Europe on the second position in workforce analytics market. Increasing number of call centers and BPOs and measuring the performance of employees causes the growth of this market in Europe. European countries analyzing the benefits though work force analytics such as it optimizes the performance of the individual, maintenance and also increase the quality of the work performed and with the help of this, live status updates & transparency of work progress & follow-up for the project lead. European countries such as Germany, France, and U.K. are focusing on innovation and up gradation of the processing.
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Increase in infrastructure and awareness of benefits of workforce analytics across the Asia Pacific regions are expected to grow the market during the forecast period. India, China, and Japan these are the countries have the highest market share of workforce analytics market. Rapid economic development in the region, increasing citizen prosperity is playing a key role in the growth of this market. Additionally, APAC region has potential growth opportunities, as there is a rise in the bring your own device (BYOD) trend and greater skilled workforce availability among SMBs and enterprises that are turning towards workforce analytics solutions to efficiently manage human resources.

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Shifting technological preference in Latin America, Middle East and Africa towards efficient HR practice and increasing demand for workforce analysis tool is expected to fuel the workforce analytics market within the forecast period. These regions have moderate growth for workforce analytics during the estimated five years.

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The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Visier Inc., Genpact Ltd., SAP Success Factors, Peoplefluent companies, Kronos Inc., Aquire Inc., Workday Inc., PeopleStreme Pty. Ltd., Towers Watson & Co., Oracle Corporation, Cornerstone OnDemand Inc., WorkForce Software LLC, and Tableau Software Inc.

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The report segments workforce analytics market into:

Global Workforce Analytics Market: Deployment Mode Segment Analysis

  • Cloud
  • On-Premises

Global Workforce Analytics Market: Vertical Segment Analysis

  • BFSI
  • Government
  • Retail
  • Healthcare
  • Manufacturing 
  • Others

Global Workforce Analytics Market: Region Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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