Workforce Analytics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

The Rising Need for Robust Security Solution is Driving the Growth of Workforce Analytics Market

Globally, the workforce analytics market is expected to grow with a CAGR of 16.5% during the forecast period from 2021 to 2029. The market is propelled by the growing need among the organizations to enhance the operational efficiency and curb the operational cost. The organizations are adopting the technology based solutions and services for their talent acquisition needs and workforce management and performance evaluation. Moreover, the organizations are leveraging on the working analytics solution to develop a comprehensive workforce performance management.

The growing digital data among the organization is also encouraging the adoption of the workforce analytics solution to derive the actionable insights also accelerates the market growth. Furthermore, the growing adoption of the cloud based services among the organizations is also paving the way for the integration of the workforce analytics solutions. However, the reluctance among the organization to shift from the conventional methods to the advance software solutions is inhibiting the growth of the market. Moreover, the lack of awareness pertaining to the benefits of the solution is also acting as a major constraint in the growth of the market.

Cloud Deployment is Estimated to Grow Significantly During the Forecast Period

The workforce analytics market is segmented based on the deployment into on-premise and cloud. The on-premise segment accounted for more than 70% share in the revenue in 2020. The growth of the market is attributed to the control and rigid security offered by the on-premise deployment model. However, as the organization shifting towards digitalization, the demand for cloud model is anticipated to increase during the forecast period due to the cost effectiveness and numerous other benefits offered by the model over conventional model.

North America is Leading the Workforce Analytics Market

North America led the global workforce analytics market in 2020 with the market share of more than 42%. The growing digitalization across the organizations in the region is the primary driver for the market growth. The growing deployment of cloud based services among the organizations is also one of the major factor accelerating the adoption of the workforce analytics solutions. Furthermore, the changing market dynamics and integration of advance technologies for workforce management also foster the market growth.

The major vendors in the workforce analytics market are Aquire Inc, ADP LLC, Cornerstone OnDemand Inc, IBM Corporation, Genpact Ltd, Kronos Inc, PeopleSreme Pty Ltd, Oracle Corporation, SAP SE, Visier Inc, Tableau Software, and Workforce Software LLC.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of workforce analytics in 2020 and forecast up to 2029?
• Which is the largest regional market for workforce analytics?
• What are the major trends followed in workforce analytics market across different regions?
• Who are the key companies in the workforce analytics market?
• What are the key strategies adopted by the leading workforce analytics companies in market?

Unique data points of this report

• Statistics on workforce analytics and spending worldwide
• Recent trends across different regions in terms of adoption of Workforce Analytics across applications
• Notable developments going on in the industry
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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