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People Analytics Market - Global Outlook & Forecast 2021-2026 Featuring Key Vendors - IBM, Koch Industries, MicroStrategy, Oracle, Ultimate Kronos Group (UKG), SAP, Workday - ResearchAndMarkets.com

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DUBLIN, October 28, 2021--(BUSINESS WIRE)--The "People Analytics Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The people analytics market was valued at USD 2.03 billion in 2020 and is expected to reach USD 4.24 billion by growing at a CAGR of 13.08 % during the forecast period.

Increasing demand for workforce optimization solutions is driving the growth of the people analytics solutions market around the globe due to the growing demand for expertise in new fields and the growing shortage of skilled workers. Small businesses may benefit from using it to keep up with rivals' pace. The emerging trends such as AI, developments of new technologies, raising awareness of the cloud and its benefits, and maturing business models are projected to support the growth.

KEY HIGHLIGHTS

Some of the prominent trends influencing the global people analytics market are innovation, technology, marketing, price wars, and others. SMEs' demand for HR analytics solutions is expected to grow at the fastest CAGR of 14.52% during the forecast period.

Based on the end-users, the telecom & IT is the leading segment holding the market share of 23.13%, while BFSI is expected to witness the highest growth rate with a CAGR of 16.29% during the forecast period. Workforce analytics vendors have a huge opportunity to expand in the Asia Pacific region due to the expansion of manufacturing in China and the growth of small and medium enterprises (SMEs) in countries such as China, India, and others.

The market for HR analytics is slowly shifting from being concentrated with Vieser enjoying a significant share of the global people analytics industry to becoming a fragmented one with several independent vendors entering the market.

PEOPLE ANALYTICS MARKET SEGMENTATION

PEOPLE ANALYTICS MARKET SEGMENTS

People analytics software is used to streamline processes in retail, banking, financial services, and insurance (BFSI), government, manufacturing, energy & utilities, entertainment, oil & gas, hospitality, automotive, logistics, information technology & telecom, education, and healthcare. HR analytics software across the world is assisting firms in establishing a personalized employee experience. As a result, demand for people analytics software has increased.

SMEs held a low share of the workforce analytics market in 2020 but are expected to grow at the highest CAGR of 20.76% during the forecast period due to the growing SMEs across countries and the continuous requirement of minimizing expenses to earn high margins. Due to a lack of resources, SMEs try to look for cost-effective solutions and enhance their productivity.

GEOGRAPHICAL ANALYSIS

North America: The region was severely hit by the COVID-19 pandemic, which fueled HR activities in the industry and led to higher adoption of people analytics. North America held the highest share in the global HR analytics market in 2020. The presence of better technology infrastructure supports the growth of HR analytics in the region.

Europe: The second highest share in Europe is owed to the presence of several big companies such as Volkswagen, Daimler, EXOR Group, Allianz, Prudential, and others. People analytics solutions are highly penetrated in the region is due to various prominent reasons, including a large employee base, improved productivity, and extensive business processes, which is boosting the HR analytics industry in the region.

VENDOR ANALYSIS

The key players in the HR analytics industry are IBM, Koch Industries, MicroStrategy Incorporated, Oracle, Ultimate Kronos Group (UKG), and SAP.

Vendors must focus on meeting the end-user requirements. Product customization could prove an effective way to expand the consumer base and increase market shares.

Key Vendors

  • IBM

  • Koch Industries

  • MicroStrategy Incorporated

  • Oracle

  • Ultimate Kronos Group (UKG)

  • SAP

  • Workday

Other Prominent Vendors

  • Sage Group

  • Sisense

  • Talentsoft

  • Visier

  • Zoho Corporation

  • Tableau Software

  • GainInsights

  • Asure

  • Beeline

  • ConveyIQ by Entelo

  • Ellucian Company

  • Genesys

  • Paycor

  • Reflexis Systems

  • TrustSphere

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope Of The Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.2 Evolution Of People Analytics

7.3 Shifting Focus Of The Top Management Toward People Analytics

7.4 Key Trends - 2021

7.5 Risk Analysis In The Market

7.6 Key Factors In The People Analytics Market

7.6.1 Consultancies

7.6.2 Technology Firms

7.6.3 Professional Organizations

7.6.4 Conference Organizers

7.6.5 Business Media

7.6.6 Business Schools

7.6.7 Social Media

7.7 Key Facts & Figures

7.8 Major Costs & Expenses Incurred By Vendors

7.9 Impact Of Covid-19

8 Market Opportunities & Trends

8.1 Rising Adoption Of AI & Ml

8.2 Shifting Focus Toward Predictive Analysis

8.3 Growing Demand For Diversity And Inclusion

9 Market Growth Enablers

9.1 Growing Demand For Workforce Analytics

9.2 Rising Shift Toward Employee Retention And Wellness

9.3 Growing Demand From End-User Industries

10 Market Restraints

10.1 Susceptibility To Several Barriers

10.2 Stringent Government Regulations And Compliances

11 Market Landscape

11.1 Market Overview

11.2 Distribution Channel

11.3 Demand Insights

11.4 Revenue Recognition

11.5 Market Size & Forecast

11.6 Component

11.7 Deployment

11.8 Organization Size

11.9 End-User

11.10 Five Forces Analysis

12 Component

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 Software: Market Overview

12.3.1 Payroll

12.3.2 Employee Retention

12.3.3 Workforce Management

12.3.4 Recruitment

12.3.5 Other Software

12.3.6 Market Size & Forecast

12.3.7 Market By Geography

12.4 Service: Market Overview

12.4.1 Integration & Deployment

12.4.2 Advisory & Consulting

12.4.3 Other Services

13 Organization Size

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Large Enterprises

13.3.1 Market Size & Forecast

13.3.2 Market By Geography

13.4 Small & Medium Enterprises

13.4.1 Market Size & Forecast

13.4.2 Market By Geography

14 Deployment

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 On-Premise

14.3.1 Market Size & Forecast

14.3.2 Market By Geography

14.4 Cloud-Based

14.4.1 Market Size & Forecast

14.4.2 Market By Geography

15 End-Users

15.1 Market Snapshot & Growth Engine

15.2 Market Overview

15.3 Telecom & IT

15.4 BFSI

15.5 Healthcare

15.6 Manufacturing

15.7 Retail & Consumer Goods

15.8 Education

15.9 Travel & Hospitality

15.10 Other End-Users

15.10.1 Public Sector

15.10.2 Transport & Logistics

For more information about this report visit https://www.researchandmarkets.com/r/s4kr14

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005571/en/

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