Workforce analytics is a combination of software and methodology that implements statistical models to worker-related data, allowing company leaders to develop human resource management (HRM). Workforce analytics helps to analyze the efficiency of the employees/workers in an organization. It has many applications such as identification of need for new departments and positions, physical risks to employees in specific positions, job satisfaction of the employee etc.
The major driving factor of workforce analytics market is increasing business competitiveness that simultaneously demands for workforce analytics to get better business result. Changing work dynamics is another driver of workforce analytics market. The workforce analytics market expected to witness fastest growth over the forecast period. This growth can be attributed to growing need to make smarter decisions about the talent. However, lack of awareness in organization is expected to be a major restraint of workforce analytics market.
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The study segments the global workforce analytics market on the basis of type, deployment type, organization size, applications and regional segment. Different key types included in workforce analytics market are solutions and services. From which services are further categorized into consulting services, system integration services and managed services. Consulting services is one of the leading segments and expected to witness rapid growth over the forecast period.
Based on application, workforce analytics market is segmented into BFSI (banking, financial services and insurance), energy & utilities, government & public sector, retail, healthcare, telecom & IT, travel & hospitality and others. BFSI application segment accounted for largest share of overall market in 2014. This growth can be attributed to growing industrialization worldwide.
Major regional segments analyzed in this study include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, further bifurcation of region on the country level, which include U.S., Germany, UK, France, China, Japan and India. North America dominated workforce analytics market owing to availability of a large number of analytics vendors in this region.
Some of the key players in workforce analytics market which includes company overview, product portfolio, and recent developments such as acquisitions, mergers, expansion or product launch. In this report companies including Genpact Ltd., Visier, Inc., Cornerstone OnDemand, Inc., WorkForce Software LLC, SAP Success Factors, Kronos, Inc., Aquire, Inc., Workday, Inc., PeopleStreme Pty. Ltd., Towers Watson & Co., Peoplefluent companies, Oracle Corporation, and Tableau Software, Inc.
This report segments the global workforce analytics market as follows:
Global Workforce Analytics Market: Type Segment Analysis
- Consulting Services
- System Integration Services
- Managed Services
Global Workforce Analytics Market: Deployment Type Segment Analysis
- Public Cloud
- Private Cloud
Global Workforce Analytics Market: Organization Size Segment Analysis
- Large Enterprise
- Small & Medium-sized Enterprise
Global Workforce Analytics Market: Application Segment Analysis
- BFSI (Banking, Financial Services and Insurance)
- Energy & Utilities
- Government & Public Sector
- Telecom & IT
- Travel & Hospitality