Workforce Analytics Market to Experience a Incredible Growth with a Projected CAGR of 15.1% by 2028

The company’s initiatives to reduce spending and promote healthy investment returns along with improving productivity are promoting rapid adoption of workforce analytics across workplaces.

Dallas, Jan. 28, 2022 (GLOBE NEWSWIRE) — Workforce analytics is also known as workforce planning. It is a type of method used to make better decisions related to hiring, retaining and managing employees by analyzing employee data and return on investment. The workforce analytics model is used to enhance human resource efficiency and people-related decision-making. For example, employee management can also be categorized under workforce analytics.

The increasing use of workforce analytics to achieve a competitive advantage and to shape the future of human resources is increasing the adoption of workforce analytics. The engagement and inclusion of the global workforce, the overwhelming use of big data in human resources, and the increasing demand for workforce analytics to assess the workforce and achieve improved business outcomes due to the increasing competition among companies, is boosting the world Workforce Analytics Market. Tools that enable workforce analytics measure training and development, employee management, staffing costs, and other attributes that help companies improve their human resources.

The major players in the global workforce analytics market are Genpact Ltd., Visier, Inc., SAP Success Factors, Kronos, Inc., Aquire, Inc., Peoplefluent Companies, Workday, Inc., Towers Watson & Co., PeopleStreme Pty. Ltd. and Cornerstone OnDemand, Inc., Oracle Corporation, and Tableau Software, Inc. and WorkForce Software LLC. Well-known companies offer new and up-to-date software solutions for workforce analytics.

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The ever-increasing demand for successful ROI, and improved strategies to increase total revenue enhance the use of workforce technologies especially in the corporate world. Other variables such as the changing business environment, workforce optimization, and changing business dynamics are driving the adoption of workforce analytics technologies, thus enhancing the global workforce analytics market. However, data security and compliance concerns, lack of professional expertise, and insufficient IT resources are some of the major challenges facing the global workforce analytics market.

Moreover, the use of advanced workforce analytics to meet human resource challenges, technical employee training programs, advanced data security, and compliance measures in place are expected to provide growth opportunities for the global workforce analytics market. Additionally, the organization’s growing concerns regarding big data about human capital is the major factor driving the global workforce analytics market. The increasing implementation of Human Capital Information System to accelerate profitability, reduce operational costs is boosting the global workforce analytics market. Predictive analytics to determine the likelihood of future possibilities based on past data is increasing interest in workforce analytics techniques.

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Based on the various components, the market is categorized into solutions and services. The Solutions segment is expected to perform well and collect significant revenue in the global workforce analytics market. The publishing segment is categorized into two sections, on-premises and cloud. The local sector is highly preferred by the organizations that are expected to lead the market in the coming years. On-premises offering complete licensing control, better data protection, one-time investment, independent licensing from an external service provider and deeper integration into client infrastructure are the main factors driving the growth of the local segment in the global workforce analytics market. Depending on the size of the organization, workforce analyzes are performed by large, small and medium enterprises. Large companies have captured a large market share due to the high investment potential, better awareness and higher experience team. Industries such as BFSI, ICT, retail, e-commerce, healthcare, and other industrial sectors apply workforce analytics techniques to improve business performance.

Overview of the global workforce analytics market segment

Components Overview, 2019-2028 (US$1 million)

• Solution
• Services
• consulting services
• System Integration Services
• Managed Services

Publication form overview, 2019-2028 (US$1 million)

• at work
• clouds

Organization Size Overview, 2019-2028 (US$ Million)

• Large projects
• Small and Medium Enterprises

Industry Vertical Overview, 2019-2028 (US$ Million)

• BFSI
• Information and Communication Technology
• Retail and e-commerce
• Government and the public sector
• Health Care
• manufacturing
• Aharon

Regional Overview, 2019-2028 (US$ Million)

• North America
• we
• Canada
• Europe
• United kingdom
• Germany
• France
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia and the Pacific
• Middle East and Africa
• The United Arab Emirates
• South Africa
• Rest of the Middle East and Africa
• South America
• Brazil
• Rest of South America

Key Questions Answered in the Market Research Report:

• What are the key factors driving the growth of the global Workforce Analytics Market?
• What is the key outcome of the Five Forces Analysis of the Leading Countries and Workforce Analytics Market?
• What is the global 5 year workforce analytics market growth with revenue and CAGR?
• What is the region’s industry size, growth drivers, challenges and key market trends?
• Who are the leading major players and what are their major business plans in the workforce analytics market?

Table of contents:

Chapter 1 Introduction
Research Methodology Chapter 2
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Workforce Analytics Market by Component
Chapter 6 Workforce Analytics Market by Deployment Model
Chapter 7 Workforce Analytics Market by Organization Size
Chapter 8 Manpower Analytics Market by Industry Vertical
Chapter 9 Workforce Analytics Market by Region
Chapter 10 Competitive Scene
Chapter 11 Company Profiles

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