The Asia Pacific Workforce Analytics Market would witness market growth of 18.4% CAGR during the forecast period (2023-2029).
The main factors fueling the growth of the workforce analytics market are the increasing need to discover talent shortages from performance data, the need to do away with long-term labor issues, the desire to obtain a competitive edge, and the need to guarantee employee satisfaction & engagement. During the projection period, it is predicted that applying blockchain and machine learning technologies in conjunction with workforce analytics will present a profitable potential for market expansion.
These elements include the accessibility of vast quantities of data related to human resources, the growth of big data, data sources, and workforce analytics tools based on artificial intelligence. Software for workforce analytics may comprehend spoken and written human language using a branch of artificial intelligence called natural language processing. By choosing people with the best credentials and education, automated resume matching made possible by integrating AI or NLP with workforce analytics solutions speeds up the screening process. For the market for workforce analytics, this is expected to open up many opportunities.
Corporations are concentrating on their workforce to obtain a competitive edge in their local markets. They are using workforce analytics to do this so they can see the internal architecture. The government's programs to promote entrepreneurship in the nation, such as Startup India, influence the industry. The company can make fact-based HR choices with workforce analytics, resulting in a favorable effect on the market. Digital technology is advancing across several sectors, including education, finance, advertising, and real estate. Companies like Japan have employed workforce analytics in the mainstream to manage worker skills, even though HR technology is believed to be a crucial component in reforming working procedures.
The China market dominated the Asia Pacific Workforce Analytics Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $400.7 million by 2029. The Japan market is estimated to grow a CAGR of 17.7% during (2023 - 2029). Additionally, The India market would experience a CAGR of 19.2% during (2023 - 2029).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into IT & Telecom, BFSI, Manufacturing, Retail & Ecommerce, Government, Healthcare & Life Sciences, Education, Energy & Utilities, and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Workforce Analytics Market is Projected to reach USD 4.9 Billion by 2029, at a CAGR of 17.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, Salesforce, Inc. (Tableau Software, LLC), Oracle Corporation, ADP, Inc., Workday, Inc., Cornerstone OnDemand, Inc. (Clearlake Capital Group, L.P.), Visier, Inc., UKG, Inc. and WorkForce Software, LLC.
By Component
By Vertical
By Organization size
By Deployment Mode
By Country
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