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Global Workforce Analytics Market Growth (Status and Outlook) 2024-2030
Product Code:811504
Published Date: Jan 02,2024
Pages: 113
Region: Global
Category: Service & Software
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According to our LPI (LP Information) latest study, the global Workforce Analytics market size was valued at US$ 1327.1 million in 2023. With growing demand in downstream market, the Workforce Analytics is forecast to a readjusted size of US$ 3300.6 million by 2030 with a CAGR of 13.9% during review period.
The research report highlights the growth potential of the global Workforce Analytics market. Workforce Analytics are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Workforce Analytics. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Workforce Analytics market.
Workforce analytics is a combination of software and methodology that applies statistical models to worker-related data, allowing enterprise leaders to optimize human resource management (HRM).
Workforce analytics can help enterprise leaders to develop and improve recruiting methods, make general and specific hiring decisions, and keep the best workers with the company. In addition, workforce analytics can help management personnel to:
(1) Predict the probability of an individual employee's success.
(2) Identify the need for new departments and positions.
(3) Determine which departments or positions can be reassigned or eliminated.
(4) Identify and quantify physical risks to employees in specific positions.
(5) Identify and quantify factors that influence employee job satisfaction.
(6) Analyze and predict current and future technological needs.
(7) Assign and delegate responsibility for tasks and goals.
(8) Optimize the enterprise's organizational structure.
(9) Help the enterprise to identify, encourage, and cultivate its future leaders.
The industry is fragmented, the key brand include Kronos, SAP, Oracle, IBM, ADP, SAS Institute Inc, WorkForce Software, Ultimate Software, Genpact, Workday, Visier and so on. Kronos are the leader of this industry with about 13% market shares.
Key Features:
The report on Workforce Analytics market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Workforce Analytics market. It may include historical data, market segmentation by Type (e.g., On-premise Deployment, SaaS Deployment), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Workforce Analytics market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Workforce Analytics market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Workforce Analytics industry. This include advancements in Workforce Analytics technology, Workforce Analytics new entrants, Workforce Analytics new investment, and other innovations that are shaping the future of Workforce Analytics.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Workforce Analytics market. It includes factors influencing customer ' purchasing decisions, preferences for Workforce Analytics product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Workforce Analytics market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Workforce Analytics market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Workforce Analytics market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Workforce Analytics industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Workforce Analytics market.
Market Segmentation:
Workforce Analytics market is split by Type and by Number of Employees. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Number of Employees in terms of value.
Segmentation by type
On-premise Deployment
SaaS Deployment
Segmentation by number of employees
Under 100
100-499
500-999
1,000-4,999
Above 5000
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Kronos
SAP
Oracle
IBM
ADP
SAS Institute Inc
WorkForce Software
Ultimate Software
Genpact
Workday
Visier
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2021
According to this latest study, the 2021 growth of Workforce Analytics will have significant change from previous year. By the most conservative estimates of global Workforce Analytics market size (most likely outcome) will be a year-over-year revenue growth rate of XX% in 2021, from US$ 1146.7 million in 2020. Over the next five years the Workforce Analytics market will register a 13.9% CAGR in terms of revenue, the global market size will reach US$ 1930 million by 2026.
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According to this study, over the next five years the Workforce Analytics market will register a 16.6%% CAGR in terms of revenue, the global market size will reach $ 1826.5 million by 2025, from $ 988.2 million in 2019. In particular, this report presents the global revenue market share of key companies in Workforce Analytics business, shared in Chapter 3.
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