Workforce Analytics Market Report

Workforce Analytics Market Analysis By Type (Solution, Services), By Services (Managed, Consulting, System Integration), By Deployment, By Organization, By Application, By Region, And Segment Forecasts, 2014 - 2024

Published: June 2017  |  137 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-947-0

Industry Insights

The global workforce analytics market size was valued at USD 430.9 million in 2015. The growing demand to enhance the productivity and curb the operational cost is expected to aggravate the demand for workforce analytics software platform across various industries. It enables the organization to foster workforce optimization and develop a metrics for comprehensive workforce performance improvement.

The lack of standard performance indicators to track human capital performance is anticipated to stimulate the market growth. The ability to access and analyze huge unstructured data on a real-time basis to execute business decisions pertinent to human resource utilization is critical to the business development. However, there exist a distinct gap in the optimum usage of workforce analytics by the large enterprises.

Europe workforce analytics market, by application, 2014 - 2025 (USD Million)

Europe workforce analytics market

The platform integrates data from different verticals such as finance, IT, ERP, HR, learning management into a common data warehouse where strategic roadmaps are formulated that aligns workforce data. It also helps in establishing a baseline for analyzing workforce planning, training, staffing, recruitment, talent management and labor cost optimization. 

Systematic accumulation and presentation of data is crucial for workforce analytics to yield genuine commercial impact. IBM’s Fifth Biennial Global CEO Study recognized the significance of human resources as key to the sustainable economic development. Therefore, companies are speculating to channelize funds for the recruitment and deployment of high valued human resources at the optimal level.

Application Insights

BFSI sector is anticipated to emerge as one of the prominent application sectors for workforce analytics market over the forecast period. The segment was valued at USD 120.0 million in 2016 and is anticipated to grow at a CAGR of 16.5% from 2017 to 2025. End-to-end computerization catalyzed the growth in financial and banking services. With the advent of workforce analytics, organizations get fast and personalized human capital related solution on real-time basis.

Increasing proliferation of online business solutions, as well as e-commerce transactions, CRM, in addition to increased number of users is expected to spur the demand for workforce analytics solution platform in the retail segment. The emerging online communication that both retailers and consumers access on regular basis is generating, even more data for merchants to store. Workforce analytics comprehends both unstructured and structured data, such as videos and images, and also comprehends and reasons the way humans do through learning, senses, and experience. 

Deployment Insights

Cloud deployment is estimated to be the fastest-growing segment with a CAGR over 15.0% from 2017 to 2025. The segment accounted for USD 259.7 million in 2015 and is anticipated to witness momentous growth on account of secure, scalable and flexible infrastructure that provides customized enterprise solutions enabling users with the benefit of fulfilling specific business needs. Additionally, cost benefits and faster deployment is another factor driving growth. 

Asia Pacific workforce analytics market, by deployment, 2016 (%)

Asia Pacific workforce analytics market

On-premise deployment segment is also anticipated to flourish over the next nine years ascribing to benefits offered such as better control over system and data. On-premise solutions are easily replaceable and offer the flexibility to customize operations and add plug-ins as and when required. This is anticipated to spur the on-premise deployment demand over the forecast period. Nevertheless, on-premise deployment requires dedicated IT staff for high-end IT infrastructure and maintenance & support as well as is costly owing to which the market is anticipated to witness slower growth as compared to the cloud deployment.

Services Insights

System Integration segment emerged as one of the significant segment, valued at USD 202.6 million in 2016. The proliferation of new technologies such as cognitive computing, IoT and multiple analytics platforms such as big data and advanced analytics paved the way for the decisive human capital solution to enhance operation efficiency. The rise in development of heterogeneous information technology environment drives the necessity for system integration in the industries.

The innumerable acquisition by the large enterprises of new businesses to enhance product development raises the homogeneity of service provision in the industry. The development of this new business model is anticipated to bolster the growth in the consulting services.

Regional Insights

North America is expected to be a significant region with high demand and development of workforce analytics solution platform, owing to the presence of robust industrial sector. The region accounted for over 40% revenue share in 2016 and is estimated to reach over USD 660.0 million by 2025.

Asia Pacific is expected to be the fastest-growing region owing to the presence of robust economies such as India, China, and Japan. The increasing adoption of analytics platform in the retail sector is also boosting the regional growth. Moreover, the robust advancement in human resource consulting services industries that exploits analytics platform to channelize productive and efficient human capital to the right organization will trigger the market growth.

Competitive Insights

Key competitors such as ADP. LLC, Tableau Software., SAP Se and IBM Corporation majorly occupies the workforce analytics market share. Other prominent players include Genpact Ltd., Kronos Inc., Oracle Corporation, PeopleSreme Pty. Ltd., and others. These players are involved in research and development activities to develop products compliant with the regulatory standards mandated by the government authorities. Strategic investments and partnerships are anticipated to be the most efficient way to gain quick access to the emerging markets.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth on the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Workforce Analytics market on the basis of type, services, deployment, application and region:

  • Type Outlook (Revenue, USD Million; 2014 - 2025)

    • Solution

    • Services

  • Services Outlook (Revenue, USD Million; 2014 - 2025)

    • Managed

    • Consulting

    • System Integration

  • Deployment Outlook (Revenue, USD Million; 2014 - 2025)

    • Cloud

    • On-premise

  • Application Outlook (Revenue, USD Million; 2015 - 2024)

    • Healthcare

    • IT & Telecommunication

    • BFSI

    • Manufacturing

    • Retail

    • Aerospace & Defense

    • Others

  • Regional Outlook (Revenue, USD Million; 2015 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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