The research study involved four major activities in estimating the employee experience management market size. Exhaustive secondary research has been done to collect important information about the market and peer markets. The next step has been to validate these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
The market size of the companies offering employee experience management to various end users was arrived at based on the secondary data available through paid and unpaid sources and by analyzing the product portfolios of major companies in the ecosystem and rating the companies based on their performance and quality. In the secondary research process, various sources were referred to identify and collect information for the study. The secondary sources included annual reports of Microsoft, press releases of multiple companies, such as Oracle, SAP, and Qualtrics, and white papers, journals, and certified publications and articles from recognized authors, directories, and databases, such as the IMF and the US Bureau of Labor Statistics.
Secondary research was used to obtain critical information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, regional markets, and key developments from market- and technology-oriented perspectives, all of which were further validated by primary sources.
Primary Research
In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included Chief Executive Officers (CEOs), Chief Technology Officers (CTOs), Chief Operating Officers (COOs), Vice Presidents (VPs), Managing Directors (MDs), technology and innovation directors, and related key executives from various key companies and organizations operating in the employee experience management market.
Primary interviews were conducted to gather insights, such as market statistics, data on revenue collected from software and services, market breakups, market size estimations, market forecasts, and data triangulation. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Finance Officers (CFOs), Chief Strategy Officers (CSOs), and the installation team of end users who use employee experience management, were interviewed to understand buyers’ perspectives on suppliers, products, service providers, and their current usage of employee experience management, which is expected to affect the overall employee experience management market growth.
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Market Size Estimation
In the market engineering process, the top-down and bottom-up approaches were used along with multiple data triangulation methods to estimate and validate the size of the employee experience management market and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:
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Initially, MarketsandMarkets focuses on top-line investments and spending in the ecosystems. Further, significant developments in the critical market area have been considered.
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Tracking the recent and upcoming developments in the employee experience management market that include investments, R&D activities, product launches, collaborations, mergers and acquisitions, and partnerships, as well as forecasting the market size based on these developments and other critical parameters.
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Conduct multiple discussions with key opinion leaders to know about diverse types of authentications and brand protection offerings used and the applications for which they are used to analyze the breakup of the scope of work carried out by major companies.
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Segmenting the market based on technology types concerning applications wherein the types are to be used and deriving the size of the global application market.
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Segmenting the overall market into various market segments
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Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets
Market Size Estimation Methodology-Bottom-up approach
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Market Size Estimation Methodology-top-down approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the employee experience management market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures have been used, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.
The employee experience management market size has been validated using top-down and bottom-up approaches.
Market Definition
Employee experience management (EXM) is a comprehensive solution that combines technology, tools, and services to enhance employee engagement, productivity, and retention, which can significantly impact an organization's profitability and efficiency. EXM involves shaping every employee interaction with a company, from the hiring process to onboarding and exit strategies. Both IT and HR departments play a critical role in implementing strategies that support optimal employee performance. Technology is a crucial enabler of a positive EXM strategy, and by selecting the right tools and integrating them seamlessly, organizations can create a data-driven, personalized, and continually evolving employee experience that fosters productivity, loyalty, and a thriving company culture.
Stakeholders
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Employee experience management software and service providers
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Value-added resellers (VARs)
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Research organizations
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Consulting firms
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Application service providers
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Cloud platform providers
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Investors and venture capitalists
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System integrators (SIs)
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Technology providers
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Suppliers, distributors, and contractors
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End users/Enterprise users
Report Objectives
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To determine and forecast the global employee experience management market by offering (software and services), industry, and region from 2023 to 2028, and analyze the various macroeconomic and microeconomic factors that affect the market growth.
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To forecast the size of the market segments concerning five central regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
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To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market.
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To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall market.
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To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market.
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To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscape.
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Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.
Available Customizations
With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
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Further break-up of the Asia Pacific market into countries contributing 75% to the regional market size
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Further break-up of the North American market into countries contributing 75% to the regional market size
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Further break-up of the Latin American market into countries contributing 75% to the regional market size
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Further break-up of the Middle East African market into countries contributing 75% to the regional market size
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Further break-up of the European market into countries contributing 75% to the regional market size
Company Information
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Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Employee Experience Management Market