Workforce Analytics Market Set for Rapid Growth, to reach around $1056.38 Mn by 2022

Zion Market Research has published a new report titled “Workforce Analytics Market by Deployment Mode (On Premises and Cloud) for Verticals (BFSI, Government, Retail, Healthcare, Manufacturing, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022”. According to the report, global workforce analytics market was valued at approximately USD 459.14 million in 2016 and is expected to reach approximately USD 1056.38 million by 2022, growing at a CAGR of around 15% between 2017 and 2022.

 

Workforce analytics is the tool which combines software and methodology which gives measurable and effective structure to employee related data, which optimizes work of human resource. Workforce analytics is the tool which analyses the performance of employees and workers and gives a report to the management for efficient productivity. This tool is very helpful in improving recruitment, training and other human resource work related to workers. It helps top management to decide which employees are good for the company. The workforce is the tool which analyses and predicts the profitability of an individual employee’s success.

 

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Economic effect, labor shortage, and many other crises are facing by developing and developed countries across the globe. So it is very important for global businesses to manage and analyze the workforce effectively.  Increased focus on streamlining business processes and technology advancement along with growing size of companies, these are the key driver of the workforce analytics market. Workforce analytics software creates an unlimited number of automated business applications that make work more reliable and flexible.  Increasing need to make a smarter decision about the talent drives the workforce analytics market. Increasing competition among businesses demands effective business operation, which can be achieved by handling and managing workforce effectively. Due to globalization, companies are changing their business strategies and working dynamics. And this factor is also driving the global workforce analytics market. Lack of awareness in modern workforce analytics restraints the global workforce analytics market. Furthermore, adoption of workforce analytics from small and medium businesses and growing demand for mobile applications are expected to fuel global workforce analytics market.

 

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Workforce analytics market is segmented on the basis of deployment mode, vertical and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. Deployment mode segment under this study includes on premises and cloud. The Recent scenario shows that cloud based workforce analytics is leading segment in this market. Software provider such as SaaS is leading in the cloud. Because of easy installation and user-friendly characteristic, the cloud is becoming the favorable thing workforce analytics system. The vertical segment includes BFSI, government, retail, healthcare, manufacturing, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.

 

The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Visier Inc., Genpact Ltd., SAP Success Factors, Peoplefluent companies, Kronos Inc., Aquire Inc., Workday Inc., PeopleStreme Pty. Ltd., Towers Watson & Co., Oracle Corporation, Cornerstone OnDemand Inc., WorkForce Software LLC, and Tableau Software Inc.

 

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