HR Analytics Market is estimated to touch USD 7.2 billion in 2029, growing at 13.1% CAGR during 2022-2029 | Size, Growth, Trends & Forecast

HR Analytics Market was valued at USD 2.7 billion in 2021 and is slated to register a CAGR of 13.1% over the period, 2022-2029, reaching a value of USD 7.2 billion in 2029.

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The factors driving the growth of HR Analytics Market includes rising focus by companies on enhancing their workforce efficiency, growing demand for skilled employees, increasing acceptance for remote working and Work from Home (WFH) around the world and improvements in the living standards. In addition, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), big data analytics and Internet of Things (IoT), increasing number of start-ups and HR Analytics solutions helps HR professionals assists in recruitment and retention processes and mobilizing resources, are some of the additional factors supplementing the HR Analytics Market size. Moreover, the growing investments by major corporations on research and developments, increasing population growth rates and growing disposable incomes, are further contributing towards the market growth.

However, growth of the HR Analytics Market is hindered attributed to cultural barriers to HR Analytics solutions.

The leading players operating in the market are Sage Group Plc, MicroStrategy Incorporated, Zoho, Oracle Corporation, IBM Corporation, SAP SE, Kronos Incorporated, Tableau Software, Infor, and Crunchr, among others.

Based on Deployment Type, the On-Premises segment is predicted to lead the market during the forecast period

On premise deployment minimizes the dependency on internet and protects data from potential losses and fraud and provides control over the IT infrastructure of the organizations, are some of the factors responsible for the segment's growth.

Based on Organization, the Large Enterprises segment held the highest market share in 2021

HR Analytics solutions assists large enterprises to manage huge employee databases and provides real-time access to employee, are propelling growth of the segment.

Based on Region, the Asia-Pacific emerged as the fastest growing segment during the forecast period

Rising focus by organizations on enhancing the productivity of workforce, increasing number of start-ups across India, China and Australia, rapid industrialization, growing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region. 

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
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.