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Workforce Analytics Market

Global Workforce Analytics Market Share, Trends, Growth, Analysis, Forecast: By Component Type: Service, Solution; By Deployment Mode: Cloud, On-Premise; By Organisation Size: Large Enterprises, Small and Medium Enterprises; By End Use Industry; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2024-2032

Global Workforce Analytics Market Outlook

The global workforce analytics market would likely grow at a CAGR of 14.2% during 2024-2032. Workforce analytics, through advanced data analysis tools and metrics, enables extensive workforce performance measurement and improvement.

 

It helps in the assessment of activities such as staffing, recruitment, training and development, compensation and benefits, etc. Workforce analytics enables intelligent decision-making on matters related to the workforce. Asia, North America and Europe are likely to be key markets. 

 

workforce analytics market

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Global Market Likely to be Driven by Organizations’ Need to Effectively Organize, Optimize and Assess Workforce-related Data for Intelligent Decision Making

Workforce analytics refers to use of data-based intelligence for better decision making with respect to workforce related issues, for example, hiring and managing quality talent, establishing performance-based compensation, identifying the need for new positions and skills, identification of successors to key positions, etc. In other words, workforce analytics uses a sophisticated group do metrics and tools to analyse employee-related data to identify, quantify, and enhance the activity of talent towards the achievement of strategy and value creation. Data may be collected from external as well as internal sources, and stored, processed and analysed to obtain insights into human resources on whom the performance of an organization relies. Workforce analytics helps make intelligent decisions associated with employee recruitment, performance assessment, compensation, training, and others; such benefits are expected to drive the global workforce analytics market.

 

Workforce analytics may include descriptive analytics (collection and analysis of data describing present state of things or historical occurrences, predictive analytics (to anticipate future outcomes and values on the basis of an assessment of present and historical data), prescriptive analytics (suggesting what course of action to follow on the basis of historical events), and diagnostic analytics (to identify causes of outcomes displayed by descriptive analytics).

 

Advantages and Benefits Afforded by Workforce Analytics Expected to Boost Market Growth

Workforce analytics offers several benefits that help organizations gain deeper insights into employee and organizational activity. It helps in the development and improvement of hiring methods and retention of skilled workers, predicting the possibilities that an employee’s success could bring to an organization, recognizing the need for new positions and functions, identifying the need for new skill sets, discovering the positions or functions that may be reduced or reallocated, assessing and better managing expenses, identifying and quantifying factors affecting employee engagement, predicting future and present needs, optimizing company policy and structure to promote productivity and superior performance, streamlining processes to make them more effective and efficient, succession planning, creating a fair and effective compensation system, and others. Such benefits are expected to drive the global workforce analytics market.  

 

Advanced Solutions with Modern Features Likely to Boost Market Growth

Workforce analytics software (WFA) apply statistical models to worker-related data, enabling human resource management (HRM) optimization. Popular software include Anaplan, Paylocity, SAP SuccessFactors, ActivTrak, Board, IBM Planning Analytics with Watson, Predictive Index Behavioral Assessment, Visier, Workday Prism Analytics, Hatica, We360.ai, ChartHop, OrgMapper, OnShift, Fourth Analytics, SAP Workforce Analytics, Acendre, Crunchr, and others. Such solutions are likely to stimulate the global workforce analytics market.  

 

Leading Companies Offer Novel Solutions to Effectively Meet Workforce Management Related Needs

In 2019, TriNet released TriNet Workforce Analytics – its HR reporting and analytics tool. The solution was integrated with TriNet HR platform, and delivered to small and medium size businesses (SMBs) abundant data drawn from a single system, offering detailed analysis required for precise reporting and forecasting to make intelligent business decisions.

 

In 2020, Oracle Announced Oracle Analytics for Cloud HCM to allow HR teams to make better decisions and improve business performance. The solution brought ready-to-use workforce analytics to Oracle Cloud HCM customers. Novel self-service analytics capabilities offered intuitive insights across several domains such as manager performance, workforce composition, diversity, span of control, comparison ratio analysis, turnover/retention, and top talent analysis. Such solutions are likely to stimulate the global workforce analytics market.  

 

In 2020, Tata Consultancy Services (TCS) launched TCS Workforce Analytics to improve productivity and workforce experience. The solution was an AI-based unified system of engagement, insights and foresight, and aimed to help employees, managers and CXOs. 

 

Market Segmentation

 

workforce analytics market by segments

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By component type, the market is divided into:

  • Service
  • Solution

 

By deployment mode, the market is classified into:

  • Cloud
  • On-Premise

 

By organisation size, the market is segmented into:

  • Large Enterprises
  • Small and Medium Enterprises

 

By end use industry, the market is divided into:

  • Banking, Financial Services, and Insurance (BSFI)
  • Manufacturing
  • Healthcare
  • Government
  • Retail
  • IT and Telecom
  • Education
  • Others

 

By region, the market is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

workforce analytics market by region

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Key Industry Players in the Market

The report offers an extensive assessment of major players in the global workforce analytics market; it evaluates their capability, observes latest occurrences such as mergers and acquisitions, capacity expansions, and plant turnarounds:

 

  • Visier, Inc.
  • UKG Inc.
  • Workday, Inc.
  • SAP SE
  • ADP, LLC.
  • SAS Institute Inc.
  • Microsoft Corporation
  • Anaplan, Inc.
  • Oracle Corporation
  • Paycom Payroll LLC
  • Others

 

Using SWOT analysis and Porter’s Five Forces model, the EMR report offers deep insights into the industry.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component Type
  • Deployment Mode
  • Organisation Size
  • End Use Industry
  • Region
Breakup by Component Type
  • Service
  • Solution
Breakup by Deployment Mode
  • Cloud
  • On-Premise
Breakup by Organisation Size
  • Large Enterprises
  • Small and Medium Enterprises
Breakup by End Use Industry
  • Banking, Financial Services, and Insurance (BSFI)
  • Manufacturing
  • Healthcare
  • Government
  • Retail
  • IT and Telecom
  • Education
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Visier, Inc.
  • UKG Inc.
  • Workday, Inc.
  • SAP SE
  • ADP, LLC.
  • SAS Institute Inc.
  • Microsoft Corporation
  • Anaplan, Inc.
  • Oracle Corporation
  • Paycom Payroll LLC
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties 
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Workforce Analytics Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Workforce Analytics Historical Market (2018-2023) 
    8.3    Global Workforce Analytics Market Forecast (2024-2032)
    8.4    Global Workforce Analytics Market by Component Type
        8.4.1    Service
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Solution
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
    8.5    Global Workforce Analytics Market by Deployment Mode
        8.5.1    Cloud
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    On-Premise
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
    8.6    Global Workforce Analytics Market by Organisation Size
        8.6.1    Large Enterprises
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023)
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Small and Medium Enterprises 
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023)
            8.6.2.3    Forecast Trend (2024-2032)
    8.7    Global Workforce Analytics Market by End Use Industry
        8.7.1    Banking, Financial Services, and Insurance (BSFI)
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023)
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Manufacturing
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023)
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Healthcare
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023)
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Government
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2023)
            8.7.4.3    Forecast Trend (2024-2032)
        8.7.5    Retail
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2023)
            8.7.5.3    Forecast Trend (2024-2032)
        8.7.6    IT and Telecom
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2018-2023)
            8.7.6.3    Forecast Trend (2024-2032)
        8.7.7    Education
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2018-2023)
            8.7.7.3    Forecast Trend (2024-2032)
        8.7.8    Others
    8.8    Global Workforce Analytics Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2023) 
            8.8.1.3    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2023) 
            8.8.2.3    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2023) 
            8.8.3.3    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2023) 
            8.8.4.3    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2023) 
            8.8.5.3    Forecast Trend (2024-2032)
9    North America Workforce Analytics Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Workforce Analytics Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Workforce Analytics Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Workforce Analytics Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Workforce Analytics Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Visier, Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    UKG Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Workday, Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    SAP SE
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    ADP, LLC.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    SAS Institute Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Microsoft Corporation
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Anaplan, Inc.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Oracle Corporation
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Paycom Payroll LLC
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Industry Events and Developments

 

List of Figures and Tables

1.    Global Workforce Analytics Market: Key Industry Highlights, 2018 and 2032
2.    Global Workforce Analytics Historical Market: Breakup by Component Type (USD Million), 2018-2023
3.    Global Workforce Analytics Market Forecast: Breakup by Component Type (USD Million), 2024-2032
4.    Global Workforce Analytics Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023
5.    Global Workforce Analytics Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
6.    Global Workforce Analytics Historical Market: Breakup by Organisation Size (USD Million), 2018-2023
7.    Global Workforce Analytics Market Forecast: Breakup by Organisation Size (USD Million), 2024-2032
8.    Global Workforce Analytics Historical Market: Breakup by End Use Industry (USD Million), 2018-2023
9.    Global Workforce Analytics Market Forecast: Breakup by End Use Industry (USD Million), 2024-2032
10.    Global Workforce Analytics Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Workforce Analytics Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Workforce Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Workforce Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Workforce Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Workforce Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Workforce Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Workforce Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Workforce Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Workforce Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Workforce Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Workforce Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Workforce Analytics Market Structure

Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 14.2% in the forecast period of between 2024 and 2032.

The major drivers of the market include the increasing adoption of workforce analytics services across enterprises and industries, rapid automation across various end use industries, and versatile advantages offered by workforce analytics.

The technological advancements in the manufacturing sector and robust upgradations in cloud-based workforce analytics services, are the key trends in the market.

The different component types for workforce analytics are services and solutions.

Cloud and on-premise are the primary deployment modes in the market.

The major players in the workforce analytics market are Visier, Inc., UKG Inc., Workday, Inc., SAP SE, ADP, LLC., SAS Institute Inc., Microsoft Corporation, Anaplan, Inc., Oracle Corporation, and Paycom Payroll LLC, among others.

There are different types of workforce analytics include descriptive, predictive, prescriptive, and diagnostic.

A workforce analyst maintains, updates, schedules, and monitors data management activities for workforce analytics.

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