According to a new report, published by KBV research, The Global Workforce Analytics Market size is expected to reach $4.9 billion by 2029, rising at a market growth of 17.4% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 18.4% during (2023 - 2029). Businesses have begun to recognize the numerous advantages of HR analytics and how it can assist them in enhancing their personnel planning. End users increasingly utilize workforce analytics services to verify that platforms and solutions are functioning correctly. This increased adoption is estimated to support the segment’s growth.
The IT & Telecom segment acquired maximum revenue share in the Global Workforce Analytics Market by Vertical in 2022 thereby, achieving a market value of $1.3 billion by 2029. This is due to its capacity to serve a sizable workforce and its possession of the technical infrastructure needed to implement analytics solutions. In addition, the need for effective workforce analytics solutions is further fueled by the fact that large enterprises have a global presence and find it challenging to manage their widely dispersed workforces.
The SMEs segment has shown the growth rate of 19.2% during (2023 - 2029). SMEs need stronger techniques to overcome the difficulties of cost optimization on their needs and assets because they are more constrained by resources than larger enterprises. Because of this, SMEs are concentrating on employing workforce analytics solutions to monitor and control their solutions across numerous geographies. Real-time Workforce analytics can also assist managers in getting a clear sense of employee attitude, engagement, and productivity.
The On-premise segment is leading the Global Workforce Analytics Market by Deployment Mode in 2022 thereby, achieving a market value of $2.8 billion by 2029. With on-premise implementation, businesses have more flexibility & control over their IT infrastructure. They can also be changed and provide the flexibility for operations to be customized and plug-ins to be improved as needed. In addition, by shielding data from potential losses and fraud, the on-premise deployment lessens dependency on the internet.
The North America market dominated the Global Workforce Analytics Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1.7 billion by 2029. The Europe market is experiencing a CAGR of 16.7% during (2023 - 2029). Additionally, The Asia Pacific market would display a CAGR of 18.4% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/workforce-analytics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography
Companies Profiled
Unique Offerings 
