Industry Background:
Social employee recognition systems help to give employee's contributions towards their business’s growth. In order to increase employee confidence and value their involvement in critical projects, that will enhance the productivity of any employee, which benefits the company’s profit also. With the increasing availability of social channels helps it as an easy process to recognize employees on a grand scale. The employee engagement platform integrates with social to get the good word out to a vast network of supporters. Employee recognition is able to inspire every action and interaction across the company.This growth is primarily driven by The Rise in Trend of Social & Public Celebration
.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Application Software sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as SalesScreen (Norway), Workhuman (Ireland), Salesforce (United States), Reffind Ltd. (Australia), Achievers Corporation (Canada), Kudos (Canada), Madison (United States), Recognize Services (United States), Jive Software (United States) and BI Worldwide (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Mar 2020, Benefex revealed that it will provide six-month free access to the customers because of the coronavirus pandemic. This tool is available for Android, iOS, and desktop. This allows employees to recognize their co-workers against company values.There are a huge number of players are present in this market, this market is fragmented by new technology-based start-ups vendors who are highly focusing on production technologies, improving efficiency and product life. With the increasing number of opportunities can be captured by tracking the continuous process improvement and financial flexibility to invest in business growth strategies.
Influencing Trend:
High Adoption of Cloud-Based Solution Designed for Businesses
Market Growth Drivers:
The Rise in Trend of Social & Public Celebration, Increasing Inclination Towards Unified Culture and Growing Demand for The Integrated Employee Recognition Platform by Considering Anniversaries, Nominations, Social Recognition for Managers and Employees
Challenges:
High Implementation Cost Associated with Social Employee Recognition System
Restraints:
Lack of Consumer Awareness in Under Developing Regions
Opportunities:
Increasing Number of SME’s Across the Globe Majorly in the Emerging Regions Such India, and China
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Social Employee Recognition Systems Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Social Employee Recognition Systems Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Social Employee Recognition Systems players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Social Employee Recognition Systems Study Sheds Light on
The Social Employee Recognition Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Social Employee Recognition Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Social Employee Recognition Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.