What is Workforce Analytics Market?
Workforce analytics comes under people analytics and used for the measurement of behaviours of employees and analysing them to improve the business performance. It uses the statistical method and software to make decisions related to hiring, prediction of employee turnover, testing effective policies, analyse workforce need and others. The workforce analytics tools are placed in the ERP systems. Through this systems the processes can be automated and the manual errors are reduced. These factors are increasing the demand in workforce analytic tools which is fueling the market growth.
The market study is being classified and major geographies with country level break-up.
NICE Systems (Israel), Infor (United States), Workforce Software (United States), Kronos (United States), Verint (United States), Teleopti (Sweden), InVision AG (Germany), Monet Software (United States), Calabrio (United States) and Clicksoftware (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Genesys (United States) and ATOSS (France).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Workforce Analytics market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Workforce Analytics market by Type, Application and Region.
On the basis of geography, the market of Workforce Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Need of Workforce Management in Various Organisation Owing to Rising Complexity
- Change in Work Dynamics is Fuelling the Market Growth
Market Trend
- Technological Innovations Leading to More Insights to Employee Data
- Growing Adoption of Workforce Analytics in Small and Mid-Size Business
Restraints
- Changing Structure of Government Policies and Regulations
Opportunities
- Various Governmental Rules and Regulations
- Rising Number of Small and Medium Size Enterprises
Challenges
- Lack of Awareness about the Workforce Analytics
- Unstructured Data Format and Inconsistency may hamper the Market Growth
Market Leaders and some development strategies
In April 2018, NICE has entered into the agreement to acquire Matter sight which is a provider of cloud based analytics. This acquisition will strengthen the NICE’s offering and customer base.
In July 2019, TriNet has introduced HR reporting and analytics tools, TriNet workforce analytics. It delivers to SMBs rich data which is extracted from single system.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations