The global HR analytics market size was USD 3.10 Billion in 2021 and is expected to register a revenue CAGR of 15.0% during the forecast period, according to the latest analysis by Emergen Research. Growing adoption of HR analytics among large, medium, and small size enterprises to make data-driven decisions is a major factor projected to support market revenue growth between 2022 and 2030. Organizations can leverage Artificial Intelligence (AI), predictive analysis, and computing power of cloud to analyze human resource data, which can be used for digital representation of workforce and drive better and personalized employee experiences. HR analytics tools with Machine Learning (ML) algorithms can create data co-relations that accurately predict future business outcomes. For example, these tools can predict how diversity in the workforce will impact sales performance of organizations.
Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.
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Some Key Highlights From the Report
- The service segment is expected to register a steady revenue CAGR over the forecast period. Implementation and integration under the service segment help in trouble-free deployment of people analytics systems with internal and external systems of organizations. This also enables organizations to understand functionalities of current systems and create reliable connectivity among solutions.
- The cloud segment is expected to register a rapid growth rate during the forecast period. Organizations are adopting cloud computing infrastructure to gain benefits from technologies of recent times that will help to enhance business efficiency along with the economic value. Cloud-based HR analytics system provides a centralized management system irrespective of business size.
- The North America market accounted for largest revenue share in 2021 owing to rising innovation in HR Analytics systems and presence of key market players, such as Oracle, SAS Institute Inc., IBM, and others, in the region.
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
International Business Machines (IBM) Corporation, Oracle, SAS Institute Inc., Infor, Sage Group plc, Zoho Corporation Pvt. Ltd., Visier, Inc., Syncfusion Inc., UKG Inc., Degreed, Inc., ADP, Inc., and Cegid.
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Emergen Research has segmented the global HR analytics market based on component, deployment, organization size, application, verticals, and region:
- Component Outlook (Revenue, USD Billion; 2019–2030)
- Services
- Consulting
- Training & Support
- Implementation and Integration
- Others
- Solution
- Deployment Outlook (Revenue, USD Billion; 2019–2030)
- On-premises
- Cloud
- Organization Size Outlook (Revenue, USD Billion; 2019–2030)
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Recruitment
- Retention
- Payroll
- Workforce Management
- Employee Development
- Employee Engagement
- Others
- Verticals Outlook (Revenue, USD Billion; 2019–2030)
- Government
- BFSI
- IT & Telecom
- Manufacturing
- Education & Training
- Energy & Utilities
- Healthcare
- Others
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030.
According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Overview of the HR Analytics Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the HR Analytics industry
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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