Business

HR Analytics Market: Current Trends and Future Growth Prospects

July 10, 2023
mayurikathade

HR Analytics Market Overview

A thorough analysis of the “HR Analytics Market” has been provided by the top HR Analytics research company, Maximize Market Research. Key business insights, demand analysis, pricing analysis, and a competitive landscape are all included in the report.

HR analytics is a process for gathering and analysing Human Resource (HR) data to generate insights to enhance workforce performance in an organisation. HR analytics aids in comprehending the role that investments in human capital assets play in creating income, reducing risks, lowering costs, and carrying out strategic plans. Statistical techniques are used on the combined HR, talent management, operational, and financial data to perform HR analytics. The data of current employees can be analysed and compared to enable the recruiting and recruitment process be better customised to the actual skill demands of an organisation. Instead than recruiting more workers, HR analytics helps to increase existing employees’ productivity and enhance hiring criteria.

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HR Analytics Market Scope and Methodology:

The report offers an overview of the current trends and key highlights in the HR Analytics market. It provides insights into the HR Analytics Market size, growth rate, and estimations for the forecast period. Investors and stakeholders have made informed investment decisions based on the demand and pricing analysis presented in the report. The major players in the HR Analytics industry are profiled by region, showcasing their revenue, financial standing, portfolio, and technological developments. This enables a comprehensive competitive analysis of the global HR Analytics market, including market leaders, followers, and new entrants. To estimate the market size at both regional and global levels, a bottom-up approach was employed. Primary and secondary research methodologies were utilized to gather the necessary data for the HR Analytics market report.

Regional analysis is conducted at the global, regional, and country levels, providing insights into market share dominance, penetration, and upcoming growth opportunities in different regions. Key players in the market are assessed based on factors such as market revenue, advanced technologies, joint ventures, and mergers and acquisitions, contributing to the competitive analysis. The report combines both qualitative and quantitative analysis, incorporating primary and secondary data sources. It includes a SWOT analysis to identify the strengths and weaknesses of the HR Analytics market, while a PESTLE analysis is employed to understand the potential impact of macroeconomic factors on the industry.

Market Value :

HR Analytics Market value is projected to reach US$ 8.55 Bn. at the end of the forecast period and it is expected to grow at the CAGR of 14.30%.

HR Analytics Market Regional Insights

The Regional Analysis gives an overview of the HR Analytics market conditions in each of the countries included by the research.  The study contains an exhaustive analysis of all the variables, including market size, growth rate, and import and export in various geographic areas. The market for HR Analytics is essentially divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

HR Analytics Market Segmentation

by Solution

Employee Engagement & Development
Payroll & Compensation
Recruitment
Retention
Talent Analytics
Workforce Planning
Others

According to solution, the workforce planning market produced a significant portion of US$ Mn in 2022. The IT and telecom category is anticipated to rule the market over the projection period based on the end-user industry. The demand for effective HR analytics solutions is rising as businesses in the IT and telecom sectors extend their global presence. This is because it becomes more important to manage a staff that is dispersed around the globe. On-premise solutions had the highest share in the deployment model since they allow for the customization of operations and enhancement of plug-ins as needed. During the projected period, the cloud segment is anticipated to develop at the greatest CAGR

by Service

Implementation & Integration
Support & Maintenance
Training & Consulting
by Deployment Model Cloud
On-premise

by Enterprise Size

Large Enterprise
Small & Medium Enterprise

The sector of small and medium-sized businesses is anticipated to grow at the highest CAGR during the projection period. SMEs seek better solutions to the resource shortage and the challenges associated with cost-optimization of their needs and assets. This is persuading SMEs to concentrate on using HR analytics solutions, which is fueling the segment’s expansion.

by End-user

Academia
BFSI
Government
Healthcare
IT & Telecom
Manufacturing
Retail
Others

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HR Analytics Market Key Players

1. IBM Corporation
2. Infor
3. Crunchr
4. Sisense
5. Cognizant Technology Solutions Corp.
6. Accenture plc
7. Infosys Limited
8. ADP LLC
9. Ascentis Software Corporation
10. Genpact Ltd.
11. Cornerstone OnDemand, Inc.
12. Beeline
13. GainInsights Solutions Pvt. Ltd.
14. Paylocity
15. Nakisa, Inc.
16. PeopleFluent Companies
17. PeopleStreme Pty. Ltd
18. Visier, Inc.
19. TALENTSOFT
20. Oracle
21. SAP SE
22. Kronos Incorporated
23. Talentsoft
24. TABLEAU SOFTWARE
25. Sage Software Solutions Pvt Ltd
26. Zoho Corporation Pvt. Ltd.

Table Of Contents :

1. Preface

1.1. Report Scope and Market Segmentation
1.2. Research Highlights
1.3. Research Objectives

2. Assumptions and Research Methodology

2.1. Report Assumptions
2.2. Abbreviations
2.3. Research Methodology
2.3.1. Secondary Research
2.3.1.1. Secondary data
2.3.1.2. Secondary Sources
2.3.2. Primary Research
2.3.2.1. Data from Primary Sources
2.3.2.2. Breakdown of Primary Sources

3. Executive Summary: HR Analytics Market Size, By Market Value (US$ Mn)

4. Market Overview

4.1. Introduction
4.2. Market Indicator
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Porter’s Analysis
4.4. Value Chain Analysis
4.5. Market Risk Analysis
4.6. SWOT Analysis
4.7. Industry Trends and Emerging Technologies

5. Supply Side and Demand Side Indicators

 

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Key questions answered in the HR Analytics Market are:

  • What growth strategies are the players considering to increase their presence in HR Analytics ?
  • What are the upcoming industry applications and trends for the HR Analytics Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the HR Analytics Market?
  • What are the lucrative opportunities for the growth of the HR Analytics market?
  • What major challenges could the HR Analytics Market face in the future?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by segment with their sub-segments and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of Business by Region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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