Latest Report Titled On:- Global Workforce Analytics Market – By Component Type, Deployment Type (On – Cloud, On – Premises), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), End Users and Region – Growth, Trends and Forecast (2018 – 2023)
Global “Workforce Analytics Market” report provides a detailed analysis of the market from 2018 to 2023. Workforce Analytics market report focuses on market capacity, share, current market trends and upcoming future predictions. Global Workforce Analytics Market is expected to register a CAGR of approximately 15.64% during the forecast period of (2018 – 2023).
360 MARKET UPDATES Report provides a 360-degree overview of the global Workforce Analytics Market with special emphasis on all aspects including CAGR Status, drivers, restraints, and opportunities, market and regional segmentation.
Workforce Analytics Market Report Covers Leading Manufacturers: Automatic Data Processing, Inc., IBM Corporation, Oracle Corporation, Accenture. , Capgemini SE, Cisco Systems Inc., ClickSoftware Technologies, Genpact, PeopleStreme, Tableau Software, Cornerstone OnDemand Inc., Workday, Inc. , Kronos Incorporated
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The Workforce Analytics market is expected to register a CAGR of over 15.64% during the forecast period 2018 – 2023. The report profiles the on-cloud and on-premise providers of Workforce Analytics software and service for various industries.
The entry of data analytics into HR sector is one of HRs most significant opportunities to modernize the function and raise its level the value, the growing amount of data generating from an organization company can be collected to improve the performance and output seemingly with no bounds. The organizations are now digging even deeper into analyzing the data surrounding its employees, their well-being, and their performance.
Several HR managers and analytics experts are using the data to study the behavior of employees, how they use their time in office, what makes them stay at their job, patterns of overtime, and at what times, how employees relate to each other at work all these efforts are used to understand their workforce production and performance.
Growing Demand for Workforce Analytics
With the advancements in the new technology such as Artificial Intelligence and Deep Learning has increased the global trade between different countries, which has made a significant impact on the work culture across the globe for various organizations which resulted in the increased number of the skilled workforce. The accelerated rise of large amounts of data generated from the various Smart devices such Radio Frequency Identification (RFID) chips, tracking sensors are connected with each other collects large amounts of data from the various devices for an instance attendance Biometric is used for an employee working duration details.
For instance, Bank of America installed various smart sensors within the organizations to study how the group dynamics impacted the performance, productivity. These sensors eventually help the company to experience a 10 % improvement in the productivity by making some workplace culture changes after the study.
Increasingly the workforce analytics vendors are forming the strategic partnerships with technology leaders to combine their products with the latest technologies or some workforce analytics vendors that will develop technologies on their own and can analyze the outcomes from their employees accordingly to compete with these technology vendors. For instance, Raet and Activ8 have done the partnership to develop a world-class product (Workforce analytics tool), superior to traditional dash boarding offerings.
North America the largest market in terms of global share
The North America region is projected to have the largest growth in demand, during the forecast period (2018-2023), as it provides a suitable environment for startups and SMEs, regarding government regulations and compliance. According to Business.org, the top 20 startups of ecosystems are located in North America, for instance Austin, Texas has more than 5,500 start-ups, as well as big- tech giants firms like Facebook, Google, and Apple. Owing to this, enterprises are proliferating in this North America region and have a massive demand for workforce analytics market. The major trends responsible for the growth of workforce analytics market in the North American region include the growing number adoption of cloud-based workforce analytics from the U.S and Canadian companies with the shift towards software as a service (SAAS) in cloud-based workforce analytics.
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Reasons to Purchase Workforce Analytics Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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