The global workforce analytics market is expected to reach USD 1.87 billion
by 2025, according to a new report by Grand View Research, Inc. The growing
concern by the majority of the large enterprises to deal with humongous volume
of data pertinent to human capital is anticipated to spur the demand for
workforce analytics software application platform over the forecast period. The
widespread adoption of human capital information system to enhance
profitability of the industry by reducing operational cost also stimulated the
market growth.
Retail industry is
anticipated to be the fastest-growing application sector owing to the rising
implementation of workforce information system to automate the key human
resource related processes. Retail industries are subjected to exhibit multiple
issues related to inventory management, in-store product distribution, customer
handling, and deployment of sufficient number of resources to the store
locations.
The incidence of public
and private cloud storage system by the several business entities with respect
to various data applications scalability, tool capabilities, and optimum
implementation is anticipated to bolster the popularity of cloud storage
platform in the field of data analytics. The effective combination of data
analytics tool and cloud computing platforms to enhance execution flexibility
and agility of the data management system aggravated the demand for the incorporation
of cloud management system by the majority of the business enterprises.
Additionally, cloud
storage platform also enables the data analyst to optimize linear scalability,
database virtualization, work management, and storage optimization. Cloud
computing platforms categorically act as a complementary technological paradigm
by enabling flexible network access to a shared pool of configurable computing
resources with minimal cost to the management.
Access Research Report of Workforce Analytics Market @ www.grandviewresearch.com/industry-analysis/workforce-analytics-market
Further key findings from the study suggest:
· Consulting services is anticipated to
exhibit moderate growth with the CAGR of 16.1% over the forecast period and is
anticipated to be valued at USD 660.3 million by 2025. The absence of essential
technology infrastructure to deploy flexible and comprehensive data analytics
model to track human movement on a real-time basis is anticipated the spur the
market growth.
· The Retail domain is expected to dominate
the market accounting for over 23% of the overall revenue share by 2025. The
incorporation of workforce analytics platform is expected to ensures optimum
allocation of human resources with the minimal operational cost to the
organization.
· Asia Pacific is anticipated to incur the
fastest growth with a CAGR of 19.6% over the forecast period. The growth can be
attributed to the presence of fastest growing economies such as China, India,
and Japan in the region. The widespread deployment of the workforce analytics
platform in the BFSI sector to meet the unprecedented demand for customer
handling is anticipated to stimulate the market growth.
· Key players in the workforce analytics
market include ADP LLC, Tableau Software., SAP Se, Genpact Ltd., Oracle
Corporation and IBM Corporation. The market is highly competitive owing to the
presence of numerous solution provider incorporating innovative technologies to
offer product differentiation.
Grand View Research has
segmented the workforce analytics market on the basis of type, services,
deployment, application and region:
Workforce Analytics Type Outlook (Revenue, USD Million;
2014 - 2025)
·
Solution
·
Services
Workforce Analytics Services Outlook (Revenue, USD
Million; 2014 - 2025)
·
Managed
·
Consulting
·
System Integration
Workforce Analytics Deployment Outlook (Revenue, USD
Million; 2014 - 2025)
·
Cloud
·
On-premise
Workforce Analytics Application Outlook (Revenue, USD
Million; 2014 - 2025)
·
Healthcare
·
IT & Telecommunication
·
BFSI
·
Manufacturing
·
Retail
·
Aerospace & Defense
·
Others
Workforce Analytics Regional Outlook (Revenue, USD
Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
