Latest News- Workforce Analytics Market: Retail is expected to lead the End-user segment during 2025-2029

The Workforce Analytics Market is being driven by Demand for efficient workforce management and recruitment

The Workforce Analytics Market is expected to grow at a CAGR of 19.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3274 million. The global workforce analytics market is experiencing significant growth, with a notable trend being the adoption of mobile applications for workforce analytics. Solutions such as Visier and SAP SuccessFactors offer this functionality, enabling organizations to make crucial workforce insights accessible via mobile platforms. With the widespread use of mobile devices, the convenience of mobile applications for workforce analytics is increasingly recognized. These applications empower managers and employees to access vital workforce metrics and trends from anywhere, facilitating informed decision-making and timely interventions. For managers, particularly those frequently traveling or working remotely, mobile applications provide a valuable tool to monitor key performance indicators of their team members and address any issues or opportunities promptly. Furthermore, mobile applications for workforce analytics enhance the user experience by delivering an intuitive and user-friendly interface. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Retail
  • BFSI
  • Telecom and IT
  • Healthcare
  • Others
• Application
  • Large enterprises
  • Small and medium sized enterprise
• Deployment
  • Cloud
  • On-premise
• Service
  • Consulting Services
  • System Integration
  • Managed Services
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Demand for efficient workforce management and recruitment
• Rise in demand for cloud-based solutions
• Use of automation in HR processes

However, the market also witnesses some limitations, which are as follows:

• Lack of skilled workforce
• Data quality and privacy issues
• Availability of open-source workforce analytics

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Market Scope in Workforce Analytics Market Research Report

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Research Analysis Overview

The Workforce Analytics Market encompasses data analytics solutions that leverage machine learning, data mining, regression analysis, pattern matching, and other advanced techniques for compensation management, talent management, and HR strategies. These tools provide real-time talent decisions, employee experience insights, turnover modeling, risk assessment, productivity indexing, and performance improvement. HR teams utilize these analytics tools for workforce planning, operational efficiency, and predictive analytics to optimize labor and enhance recruitment solutions. Additionally, professional services offer management training programs and performance metrics to address performance anxieties and employee engagement, ultimately driving talent retention and organizational success.

Market Research Overview

The global IT software market encompasses organizations specializing in the development and production of application, system, and database management software. The application software sector focuses on creating software for business and consumer applications, including enterprise and technical solutions, as well as cloud-based applications. Technavio's market analysis includes the consolidated revenue of companies providing various IT software offerings, such as workforce analytics solutions for performance improvement, development and training, compensation and benefits management, talent management, and employee collaboration tools. These solutions are essential for businesses to optimize their workforce, enhance productivity, and ensure employee engagement and satisfaction.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/