Press release
Increasing Investment In Workforce Analytics To Propel The Workforce Analytics Market Driver: Leading Transformation in the Workforce Analytics Market in 2025
The rise in funding towards workforce analytics is predicted to drive growth in the workforce analytics market. Numerous businesses are contemplating increasing their financial commitment to workforce analytics because it aids organizations in enhancing employee productivity, refining recruitment strategies, making better hiring choices, retaining top talent, maximizing workforce utilization, and implementing effective workforce planning. Utilizing the most advanced technologies and metrics, workforce analytics seeks to enhance workforce and management, providing a substantial return on investment over time. For example, a 2022 talent trends study from Randstad Sourceright, a Dutch HR services company, as mentioned in an article published in September 2022, indicates that 73% of talent leaders are funneling investments into HR and workforce analytics. Consequently, the escalating investment in workforce analytics is anticipated to stimulate the demand for workforce analytics solutions and services over the forecast period.
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What growth opportunities are expected to drive the workforce analytics market's CAGR through 2034?
The market size of workforce analytics has experienced swift expansion in the past few years. The market, previously valued at $1.78 billion in 2024, is projected to increase to $2.01 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.5%. This phenomenal growth during the historical span is due to factors like regulatory compliance and reporting, the adoption of cloud-based solutions, integration with human resource management systems, predictive analytics for improving retention, diversity and inclusion analytics, increased efficiency and productivity, as well as enhanced talent acquisition strategies.
In the upcoming years, the market size for workforce analytics is predicted to witness a swift expansion. It is projected to escalate to a valuation of $3.85 billion in 2029, with a compound annual growth rate (CAGR) of 17.7%. The expansion anticipated in the forecast period is due to factors such as vendor innovation and competition, bespoke analytics solutions for different industries, improvement in global economic conditions and recovery, emphasis on learning and development analytics, and an increase in mid-sized businesses adopting these solutions. Key trends for the forecast period encompass planning for workforce resilience, measuring employee productivity, integration of AI and machine learning, using people metrics for business strategy, and real-time performance monitoring.
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What are the emerging trends shaping the future of the workforce analytics market?
Employing high-tier technologies has become a significant trend in the workforce analytics market. There is an increased adoption of cutting-edge technologies like artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) in workforce analytics solutions. These technology-based workforce analytics facilitate better assessments, enhance productivity, allow greater business scalability, bolster business operations, and increase employee efficiency. Key market participants are endeavoring to provide comprehensive workforce analytics offerings to cater to customer needs and solidify their market standing. For example, Visiera, a Canadian enterprise specializing in cloud-based workforce analytics and planning software, in June 2023, unveiled a novel technology named Vee. This AI-powered digital assistant features a straightforward conversational interface for Visier People, the most prevalent people analytics solution globally. This innovative feature delivers the correct insights to any leader curious about their workforce.
Which growth-oriented segments of the workforce analytics market are leading the industry's development?
The workforce analytics market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Large Enterprises, SMEs
4) By Industry Vertical: BFSI, Manufacturing, Healthcare, Government, Retail, IT And Telecom, Education, Other Industry Verticals
Subsegments:
1) By Solution: Workforce Management Software, Predictive Analytics Tools, Employee Engagement Platforms
2) By Services: Consulting Services, Implementation Services, Training And Support Services
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What regions are leading the charge in the workforce analytics market?
North America was the largest region in the workforce analytics market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the workforce analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the workforce analytics market?
Major companies operating in the workforce analytics market include ADP LLC (Automatic Data Processing Inc. ), Cornerstone OnDemand Inc., International Business Machines Corporation (IBM), Kronos Incorporated, Oracle Corporation, Capgemini SE, Tableau Software LLC, Workday Inc., PeopleStreme Pty Ltd, Microsoft Corporation, Visier Inc., UKG Inc. (Ultimate Kronos Group), SAP SE, Beeline. com Ltd., Brightfield Strategies LLC, Bullhorn Inc., Cisco Systems Inc., Talentsoft SA, Trianz Holdings Pvt. Ltd., Genpact Limited, Deloitte Touche Tohmatsu Limited, Cognizant Technology Solutions Corporation, Infosys Limited, Wipro Limited, HCL Technologies Limited, NICE Systems Ltd., Verint Systems Inc., WorkForce Software LLC, Google LLC
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What Is Covered In The Workforce Analytics Global Market Report?
•Market Size Forecast: Examine the workforce analytics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the workforce analytics market for a structured understanding.
•Key Players Overview: Analyze major players in the workforce analytics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the workforce analytics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the workforce analytics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the workforce analytics market.
•Industry Challenges: Identify potential risks and obstacles affecting the workforce analytics market.
•Competitive Landscape: Review strategic developments in the workforce analytics market, including expansions, agreements, and new product launches.
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