The HR Analytics Market reached USD 2.7 billion in 2021 and is expected to reach USD 7.2 billion by 2029, growing at a CAGR of 13.1% over the forecast period 2022-2029, and is expected to reach 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. According to the survey conducted by Udemy, almost 50% of the employees quit their job because of bad managers, 56% of them think managers are promoted prematurely and 60% of them thinks managers require managerial training, which is pushing the demand for HR Analytics solutions across the globe. 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
Segmentation By Deployment Type
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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