The GMI Research expects the HR Analytics Market to notice an augmentation in demand over the forecast period. This is mainly due to their assistance to ease complicated planning, rising demand for economical solutions, and the increasing acquisition of these solutions by small, medium, and large organizations.
Introduction of the HR Analytics Market
HR Analytics refers to the process of implementing coherence in the Human Resources (HR) department of an organization to enhance employee performance. The procedure offers insights into each process by accumulating data like employee attendance, engagement, compensation, training and then using an analytics approach to decide to enhance operations. Also, the solution enables an organization to raise productivity and provide a better work environment to employees.
Key Players of Market:
- Oracle Corporation
- SAP SE
- IBM Corporation
- Tableau Software
- MicroStrategy Incorporated
- Zoho
- Sage Group plc
- Infor
- Crunchr
- Kronos Incorporated.
HR Analytics Market Dynamics
The augmenting acquisition of cloud-based solutions as well as HR analytics across the small and medium organizations to formulate data-based decisions is the major factor stimulating the growth of the global HR Analytics market. Also, the solution enables various organizations to ameliorate the budget allocations and expedites the complex reimbursement planning has strengthened the market demand among several organizations. Moreover, these analytical solutions enable human resource professionals to control, allure, and perpetuate employees, which further results in an amplifies Return on Investment (ROI) for the organization, and offering a superior environment to workforce.
Furthermore, as per the HR analytics market forecast the growing demands of analytics solutions to improve workforce increment, as well as talent portability to save time, cost, and raise performance, will impel the market growth. Besides this, several multinational giants like SAP SE, Workday Inc., SAP SE are increasing offering solutions that are easy to use, and acknowledge. However, the unstable layout of managerial policies and data norms with the cultural impediment towards the endorsement of solutions are hindering market growth.
End-use Industry Drivers
On the basis of end-use industry, IT and Telecom sector is predicted to hold the major share over the forecast period. This is because of the massive potential of the sector to segment is expected to serve the huge demand of workforce and the rapid globalization as a result of increasing investments in the solution. Also, the persistent expansion of the sector further drives the market growth. On the other hand, BFSI sector has faced immense disturbances due to the excessive pressure from competitors and managerial variations. Moreover, it is facing several obstructions, such as, adherence requirements, threats of information safety, and less profit margins. The challenges altogether persuades the industry to acquire HR analytic solution to identify operations and optimize costs.
Regional Drivers
Based on the regional coverage, Asia-pacific is contemplated to capture a prominent share in the market over the forecast period. This is because of the accelerating acquisition of analytical solutions by a large number of professionals, particularly for recruitment purposes. As a result of the aggravating start-up culture along with the ameliorating productivity and execution of the employees will propel the global HR analytics market size. The major factor driving the market growth is the growing adoption of a cloud-based solution, increasing adoption of HR analytics among small and medium-sized enterprises to make a data-driven decision and rising demand of HR analytics to enhanced workforce optimization and talent mobility. Furthermore, HR analytical solution allows the organization to improve budget allocations and facilitates complex compensation planning, which increases the demand for HR analytics among enterprises.
HR Analytics Market Segmentation:
Segmentation by Component
- Solutions
- Services
Segmentation by Deployment Type
- On-Premises
- Cloud
Segmentation by Organization Size
- Small and Medium-sized Enterprises
- Large Enterprises
Segmentation by Vertical
- Healthcare
- BFSI
- Government
- IT& Telecommunication
- Education
- Retail
- Manufacturing
- Others
Segmentation by Region:
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- UAE
- Brazil
- South Africa
- Saudi Arabia
About GMI Research
The consulting and market research company, GMI Research, offers reports of market research ad business insights and market acumen to various small, medium, and large scale enterprises. Our comprehensive reports help clients to formulate prudent business policies and attain long-term growth in the market domain. The large team of analysts and industry experts with expertise from several countries like Europe, Asia-Pacific, North America, among others, provides a stet-to-step solution to client. The report includes clarified predictions, a view of the competitive industry, major factors impacting the market growth, and other market insights to succor companies reaching strategic decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
