People Analytics Market Research Report

People Analytics Market - Global Outlook & Forecast 2021-2026

PUBLISHED DATE : Oct 2021 | Pages : 282

Up to $525 off Until Oct 2021

THE PEOPLE ANALYTICS MARKET WAS VALUED AT USD 2.03 BILLION IN 2020 AND IS EXPECTED TO REACH USD 4.24 BILLION BY GROWING AT A CAGR OF 13.06% DURING THE FORECAST PERIOD

The People Analytics Market Share, Size & Trends Analysis By Component (Software and Service), Organizational Size (Large Enterprises and SMEs), By Deployment (On-Premises and Cloud-Based), By End-User (Telecom & IT, BFSI, Healthcare, Manufacturing, Retail & Consumer Goods, Education, Travel & Hospitality, and Others), and By Geography (North America, Europe, APAC, Middle East & Africa, Latin America) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026.

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Most Exhaustive Report

282 Pages

92 Tables

130 Charts

5 Regions

18 Countries

22 Companies

5 Market Segment

PEOPLE ANALYTICS MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 4.24 Billion (2026)
CAGR 13.06% (2021-2026)
BASE YEAR 2020
FORECAST YEAR 2021-2026
MARKET SEGMENTS By Component (Software, and Service), By Organizational Size (Large Enterprises and SMEs), By Deployment (On Premises and Cloud Based), By End-User (Telecom & IT, BFSI, Healthcare, Manufacturing, Retail & Consumer Goods, Education, Travel & Hospitality, and Others)
GEOGRAPHIC ANALYSIS North America, Europe, APAC, Middle East & Africa, Latin America
COUNTRIES COVERED US, Canada, UK, Germany, France, Spain, Italy, China, India, Japan, Australia, South Korea, Saudi Arabia, South Africa, UAE, Brazil, Mexico, and Rest of Latin America

PEOPLE ANALYTICS MARKET OVERVIEW

The HR people analytics market size was valued at USD 2.03 billion in 2020 and is expected to reach USD 4.24 billion by growing at a CAGR of 13.08% during the forecast period. Increasing demand for workforce optimization solutions is driving the growth of the people analytics solutions market around the globe due to the growing demand for expertise in new fields and the increasing shortage of skilled workers. Small businesses may benefit from using it to keep up with rivals' pace. The emerging trends such as AI, developments of new technologies, raising awareness of the cloud and its benefits, and maturing business models are projected to support the growth.

KEY HIGHLIGHTS

  • Some prominent trends influencing the global people analytics market are innovation, technology, marketing, price wars, and others.
  • SMEs' demand for HR analytics solutions is expected to grow at the fastest CAGR of 14.52% during the forecast period.
  • Based on the end-users, the telecom & IT is the leading segment holding the market share of 23.13%, while BFSI is expected to witness the highest growth rate with a CAGR of 16.29% during the forecast period. 
  • Workforce analytics vendors have a tremendous opportunity to expand in the Asia Pacific region due to the expansion of manufacturing in China and small and medium enterprises (SMEs) in countries such as China, India, and others. 
  • The market for HR analytics is slowly shifting from being concentrated with Vieser enjoying a significant share of the global people analytics industry to becoming a fragmented one with several independent vendors entering the market.

PEOPLE ANALYTICS MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Component
  • Organizational Size
  • Deployment
  • End-User
  • Geography

PEOPLE ANALYTICS MARKET SEGMENTS

  • People analytics software is used to streamline processes in retail, banking, financial services, and insurance (BFSI), government, manufacturing, energy & utilities, entertainment, oil & gas, hospitality, automotive, logistics, information technology & telecom, education, and healthcare. HR analytics software across the world is assisting firms in establishing a personalized employee experience. As a result, demand for people analytics software has increased.
  • SMEs held a low share of the workforce analytics market in 2020 but are expected to grow at the highest CAGR of 20.76% during the forecast period due to the growing SMEs across countries and the continuous requirement of minimizing expenses to earn high margins. Due to a lack of resources, SMEs try to look for cost-effective solutions and enhance their productivity.
  • Growing at a rate of 35%, the public cloud industry was expected to hit the USD 500 billion milestones in 2018. However, the industry capitalization of the public cloud market reached a value of USD 1 trillion in2020, surpassing the predicted value. 
  • The healthcare industry’s contribution to the workforce analytics industry is expected to see an incremental growth of USD 401.46 million during the forecast period. 

GEOGRAPHICAL ANALYSIS

  • North America: The region was severely hit by the COVID-19 pandemic, which fueled HR activities in the industry and led to higher adoption of people analytics. North America held the highest share in the global HR analytics market in 2020. The presence of better technology infrastructure supports the growth of HR analytics in the region.
  • Europe: The second highest share in Europe is owed to several big companies such as Volkswagen, Daimler, EXOR Group, Allianz, Prudential, and others. People analytics solutions are highly penetrated in the region is due to various prominent reasons, including a large employee base, improved productivity, and extensive business processes, which is boosting the HR analytics industry in the region.
  • APAC: The demand for people HR analytics in China and India is likely to be driven by increasing investments in small-scale industries. The continuously growing small and medium enterprises boost the manufacturing sector in the countries and lead to the rise of the people analytics industry. 

VENDOR ANALYSIS

  • The key players in the HR analytics industry are IBM, Koch Industries, MicroStrategy Incorporated, Oracle, Ultimate Kronos Group (UKG), and SAP.
  • Vendors must focus on meeting the end-user requirements. Product customization could prove an effective way to expand the consumer base and increase market shares.
  • Start-ups such as CrunchHR and others are rapidly expanding, and organizational network analysis (ONA) will continue to gain traction.
  • The subsequent two major revolutions in the technological landscape are hybrid cloud and artificial intelligence, and IBM is positioned as a prominent player in both.

The people HR analytics market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

By Component

  • Software
  • Service

By Organizational Size

  • Large Enterprises
  • SMEs

By Deployment

  • On-Premises
  • Cloud-Based

By End-User

  • Telecom & IT
  • BFSI
  • Healthcare
  • Manufacturing
  • Retail & Consumer Goods
  • Education
  • Travel & Hospitality
  • Others

Geography

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
  • APAC
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Frequently Asked Questions

The people analytics market was valued at USD 2.03 billion in 2020 and is expected to reach USD 4.24 billion by 2026.
The factors driving the HR analytics solutions market are the rising adoption of AI and machine learning, the growing demand for diversity, and inclusion analytics.
The key players in the people analytics industry are IBM, Koch Industries, MicroStrategy Incorporated, Oracle, Ultimate Kronos Group (UKG), and SAP, etc.
The end-users in the global people analytics industry are telecom & IT, BFSI, healthcare, manufacturing, retail & consumer goods, education, travel & hospitality, and others.
The Telecom sector accounted for the largest people analytics solutions market share.
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