HR Analytics Market by Component, Application Area (Workforce Management, Recruitment, and Employee Development), Organization Size, Deployment Type, Vertical (BFSI, Manufacturing, and IT and Telecom), and Region - Global Forecast to 2024
[135 Pages Report] MarketsandMarkets forecasts the global HR analytics market size to grow from USD 1.9 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period. The growing need among enterprises to reduce the costs associated with HR processes and streamline the HR processes is expected to drive the growth of market across industry verticals globally.
Among components, the solution segment to hold a larger market size during the forecast period
HR analytics enables enterprises to analyze the HR data from various HR systems and draw out the conclusions based on the analysis. By leveraging the benefits of HR analytics, enterprises can find the best practices for recruitment, retention, and employee engagement. It also helps HR departments to make better decisions based on their data. It also improves employees’ overall experience and engages them in a better manner. Enterprises have also started to realize the various benefits of HR analytics and how it can help them improve their workforce planning.
The cloud deployment type to grow at a higher CAGR during the forecast period
Now-a-days, organizations are looking forward to having their solutions deployed in cloud, as cloud deployment offers various advantages, including scalability, flexibility in capacity, enhanced collaboration, and cost efficiency. The implementation of cloud-based HR analytics facilitates Small and Medium-sized Enterprises (SMEs) and large enterprises to focus on their core competencies, rather than IT processes. With the help of cloud-based HR analytics, organizations can avoid the costs related to software, storage, and technical staff. Cloud-based solutions are good options for organizations with limited budget, as the cloud deployment model offers enhanced speed and scalability.
The Banking, Financial Services, and Insurance (BFSI) industry vertical to hold the largest market size during the forecast period
The enterprises in the BFSI vertical focus on increasing the number of clients and providing them with enhanced offerings. The BFSI vertical is facing unique challenges, such as low-profit margins, information security threats, and compliance requirements. The challenges have become major driving factors for BFSI organizations to minimize workforce costs and align the workforce analytically for streamlining operations. The HR analytics solution helps BFSI companies optimize their workforce comprising contractors, permanent employees, freelancers, and workers. Moreover, the use of analytics and AI-based solutions enables banks and financial institutes to transform into hyper-productive enterprises with highly-engaged workforce that differentiates them from competitors.
North America to account for the largest market size during the forecast period
North America is expected to hold the highest market share in the HR analytics market, as the region is a major hub for technological innovations and an early adopter of new technologies. The enterprises in the North American region are focusing on improving their workforce efficiency and implementing the best practices for HR operations. HR analytics helps enterprises in increasing workforce efficiency by analyzing the data at disposal. It also assists them in staying competitive in the market. The presence of major players in the region supports the demand for the adoption of HR analytics.
Key HR Analytics Market Players
The major HR analytics vendors include Oracle (US), SAP (Germany), Infor (US), Workday (US), Sage Software (UK), Kronos (US), MicroStrategy (US), IBM (US), Tableau (US), Zoho (India), Crunchr (Netherland), Visier (Canada), TALENTSOFT (Paris), GainInsights (India), and Sisense(US).
Please visit 360Quadrants to see the vendor listing of HR Software.
SAP is one of the prominent players in the HR analytics market. The company was founded in 1972 and is headquartered in Walldorf, Germany. It offers rich product and services portfolios for HR management, enabling its commercial clientele to manage all the aspects of HR processes. With SAP SuccessFactors, the company has become a global provider of HCM software offerings. Its Human Capital Management (HCM)- product’ include core human resources and payroll, learning and development, performance and compensation, recruiting and onboarding, time and attendance management, and workforce planning and analytics. SAP caters to various business lines, including asset management, commerce, HR, manufacturing, marketing, sourcing and procurement, network and support management, digital supply chain, sales, and R&D engineering. The company offers SAP’s HR analytics solutions and workforce analytics solution, thereby catering to over 200 countries in the Americas, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC) and Japan (APJ). It caters to a broad client base comprising over 413,000 customers globally.
Scope of Report
|
Report Metric |
Details |
|
Market size available for years |
2017–2024 |
|
Base year considered |
2018 |
|
Forecast period |
2019–2024 |
|
Forecast units |
Value (USD) |
|
Segments covered |
Components (Solution and Services), Deployment Types, Application Areas, Organization Size, Verticals, and Regions |
|
Geographies covered |
North America, Europe, APAC, Latin America, and MEA |
|
Companies covered |
Oracle (US), SAP (Germany), Infor (US), Workday (US), Sage Software (UK), Kronos (US), MicroStrategy (US), IBM (US), Tableau (US), Zoho (India), Crunchr (Netherland), Visier (Canada), TALENTSOFT (Paris), GainInsights (India), and Sisense(US). |
This research report categorizes the HR analytics market to forecast revenues and analyze trends in each of the following submarkets:
On the basis of components, the HR analytics market has been segmented as follows:
- Solution
-
Services
- Implementation and Integration
- Advisory
- Support and Maintenance
On the basis of application areas, the HR analytics market has been segmented as follows:
- Payroll
- Retention
- Recruitment
- Workforce Management
- Employee Engagement
- Employee Development
On the basis of organization size, the HR analytics market has been segmented as follows:
- Large enterprises
- Small and Medium-sized Enterprises (SMEs)
On the basis of deployment types, the HR analytics market has been segmented as follows:
- On-premises
- Cloud
On the basis of industry verticals, the HR analytics market has been segmented as follows:
- Consumer goods and retail
- BFSI
- IT and telecom
- Manufacturing
- Healthcare
- Education
- Others (government, and transportation and logistics)
On the basis of regions, the HR analytics market has been segmented as follows:
-
North America
- US
- Canada
-
Europe
- UK
- Germany
- France
- Rest of Europe
-
APAC
- Australia and New Zealand (ANZ)
- China
- India
- Rest of APAC
-
MEA
- United Arab Emirates (UAE)
- Saudi Arabia
- South Africa
- Rest of MEA
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
Recent Developments
- In March 2019, Oracle released an updated version of Oracle HCM cloud to make work simpler, smarter, and more agile. The updated version offers enhanced experience to users, such as candidates, recruiters, HR professionals, managers, and employees.
-
In February 2019, Infor partnered with Montage, a provider of HR analytics solutions to engage, interview, and hire better candidates. As per the terms of the partnership, both companies would offer the next generation of predictive talent analytics and interviewing technology for the hiring process by leveraging the capabilities of their respective platforms.
Key questions addressed by the report
- How is the adoption trend of HR analytics across major economies?
- What are the challenges faced by HR analytics vendors in the global market?
- What is the potential of the emerging application areas of HR analytics?
- What are various developments happened in the global HR analytics market?
Frequently Asked Questions (FAQ):
What does HR Analytics mean?
HR analytics is a set of advanced data analysis tools that apply analytical processes to the HR related data of an organization in order to find the correlation between business data and people data, which further provide the metrics for workforce performance measurement and improvement. The HR analytics solution analyzes the data related to recruitment, staffing, training and development, personnel, and compensation and benefits to provide better remuneration, good incentives and rewards schemes, and flexibility.
What are the driving factors for HR Analytics market?
Some of the factors that are driving the HR Analytics market includes:
- Growing Adoption Among Enterprises to Make Data-Driven Decisions
- Rising Demand for Workforce Optimization and Talent Mobility
Who are the prominent players in the HR Analytics market?
Some of the prominent players in the HR analytics market include Oracle, SAP, Infor, Workday, Sage Software, Kronos, MicroStrategy, IBM, Tableau, Zoho, Crunchr, Visier, TALENTSOFT, GainInsights , and Sisense.
What are the application areas of HR analytics market?
Some of the major application areas include:
- Payroll
- Retention
- Recruitment
- Workforce Management
- Employee Engagement
- Employee Development
What is the HR analytics market size?
The global HR analytics market size is projected to grow from USD 1.9 billion in 2019 to USD 3.6 billion by 2024, at a CAGR of 13.7% during the forecast period. Factors such as increasing adoption of AI and ML to assist in strategic decision-making expected to create significant growth opportunities for HR analytics Vendors. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 16)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 20)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.2 Market Breakup and Data Triangulation
2.3 Competitive Leadership Mapping Research Methodology
2.4 Market Size Estimation
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Market Forecast
2.6 Assumptions for the Study
2.7 Limitations of the Study
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in the HR Analytics Market
4.2 Market in North America, By Vertical and Country
4.3 Market Major Countries
5 Market Overview and Industry Trends (Page No. - 32)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption Among Enterprises to Make Data-Driven Decisions
5.2.1.2 Rising Demand for Workforce Optimization and Talent Mobility
5.2.2 Restraints
5.2.2.1 Varying Structure of Regulatory Policies and Data Regulations
5.2.2.2 Cultural Barrier to Adopt Advanced Solutions Over Traditional Systems
5.2.3 Opportunities
5.2.3.1 Availability of Huge Volume of HR Data and Increase in Number of Data Sources
5.2.3.2 Increasing Adoption of Artificial Intelligence and Machine Learning to Assist Decision-Making
5.2.4 Challenges
5.2.4.1 Inconsistent and Unstructured Data Format
5.2.4.2 Prevalent Concerns Over Deployment and Usage of Advanced Solutions
5.3 Industry Trends
5.3.1 Use Case 1: Kronos
5.3.2 Use Case 2: Crunchr
5.3.3 Use Case 3: Talentsoft
6 HR Analytics Market By Component (Page No. - 37)
6.1 Introduction
6.2 Solution
6.2.1 Changing Workforce Dynamics and Rapidly Increasing Amount of HR Data to Drive Growth of Solution Segment
6.3 Services
6.3.1 Implementation and Integration
6.3.1.1 Increasing Focus on Ensuring Smooth Integration With Various HR Systems to Drive Demand for Implementation and Integration Services
6.3.2 Advisory Services
6.3.2.1 Increasing Adoption of Complex Analytical Tools to Drive Demand for Advisory Services
6.3.3 Support and Maintenance
6.3.3.1 Growing Need for Updating HR Analytics Solution to Spur Demand for Support and Maintenance Services
7 HR Analytics Market By Application Area (Page No. - 44)
7.1 Introduction
7.1.1 Payroll
7.1.1.1 Increasing Focus on Attracting Top Talents to Drive Demand for HR Analytics
7.1.2 Retention
7.1.2.1 Growing Need to Keep Attrition Rate Low to Increase Demand for HR Analytics
7.1.3 Recruitment
7.1.3.1 Growing Need to Improve Hiring Process to Drive Adoption of HR Analytics
7.1.4 Workforce Management
7.1.4.1 Increasing Demand for Workforce Optimization to Boost Growth of HR Analytics Market
7.1.5 Employee Engagement
7.1.5.1 Growing Focus on Keeping Employees Engaged and Happy to Drive Demand for HR Analytics
7.1.6 Employee Development
7.1.6.1 Increasing Demand to Bridge Skill Gap to Boost Demand for HR Analytics
8 HR Analytics Market By Organization Size (Page No. - 52)
8.1 Introduction
8.2 Large Enterprises
8.2.1 Increasing Need to Analyze Employee Data for Achieving Organizational Goals to Drive HR Analytics Adoption Among Large Enterprises
8.3 Small and Medium-Sized Enterprises
8.3.1 Focus on Improving Operational Efficiency and Profit to Boost Growth of Market in Small and Medium-Sized Enterprises Segment
9 HR Analytics Market By Deployment Type (Page No. - 56)
9.1 Introduction
9.2 On-Premises
9.2.1 Concerns Over Security of Sensitive Data to Drive Adoption of On-Premises HR Analytics Solution
9.3 Cloud
9.3.1 Scalability, Enhanced Collaboration, and Cost- Effectiveness to Boost Adoption of Cloud HR Analytics Solution
10 HR Analytics Market By Vertical (Page No. - 60)
10.1 Introduction
10.2 Consumer Goods and Retail
10.2.1 Growing Need to Enhance Employee Skills to Drive Growth of Market in Consumer Goods and Retail Vertical
10.3 Banking, Financial Services, and Insurance
10.3.1 Focus on Building Highly Engaged Workforce to Spur Demand for HR Analytics in Banking, Financial Services, and Insurance Vertical
10.4 IT and Telecom
10.4.1 Growing Need to Match Employment Requirements to Drive Growth of Market in IT and Telecom Vertical
10.5 Manufacturing
10.5.1 Need to Track Performance of Employees to Increase Implementation of HR Analytics Solution in Manufacturing Vertical
10.6 Healthcare
10.6.1 Management of Rotational Shifts for Offering Services to Patients to Boost Growth of Market in Healthcare Vertical
10.7 Education
10.7.1 Automation of HR Processes to Drive Growth of Market in Education Vertical
10.8 Others
11 HR Analytics Market By Region (Page No. - 69)
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 Need to Achieve Operational Efficiency Through Better Employee-Organization Engagement to Drive Demand for HR Analytics in the United States
11.2.2 Canada
11.2.2.1 Stable Economy and Adoption of Cloud-Based Services to Boost Growth of HR Analytics Market in Canada
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 Growing Need for Retaining Skilled Employees to Drive Adoption of HR Analytics Solution in the United Kingdom
11.3.2 Germany
11.3.2.1 Advancement Toward Digitalization to Create Better Opportunities for HR Analytics Vendors in Germany
11.3.3 France
11.3.3.1 Organizations in France to Adopt HR Analytics Solution for Optimizing HR Applications
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 Australia and New Zealand
11.4.1.1 Alignment of Workforce Strategies With Organizations’ Business Strategies to Drive Adoption of HR Analytics Solution in Australia and New Zealand
11.4.2 China
11.4.2.1 Growing Need for Tracking and Improving Employee Performance to Drive Adoption of HR Analytics Solution in China
11.4.3 India
11.4.3.1 Need to Streamline Employee Training and Evaluation to Increase Adoption of HR Analytics Solution in India
11.4.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 United Arab Emirates
11.5.1.1 Growing Need for Reducing Cost of HR Processes to Increase Demand for HR Analytics in the United Arab Emirates
11.5.2 Saudi Arabia
11.5.2.1 Various Government Initiatives for Big Data and Analytics to Drive Demand for HR Analytics in Saudi Arabia
11.5.3 South Africa
11.5.3.1 Growing Awareness of Big Data and Analytics Among Enterprises to Increase Demand for HR Analytics in South Africa
11.5.4 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Growing Awareness of Analytics and Its Benefits to Drive Demand for HR Analytics in Brazil
11.6.2 Mexico
11.6.2.1 Changing Workforce Dynamics and Culture to Increase Demand for HR Analytics in Mexico
11.6.3 Rest of Latin America
12 Competitive Landscape (Page No. - 93)
12.1 Overview
12.2 Competitive Scenario
12.2.1 Product/Solution Launches and Enhancements
12.2.2 Business Expansions
12.2.3 Partnerships, Agreements, and Collaborations
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Dynamic Differentiators
12.3.3 Innovators
12.3.4 Emerging Companies
13 Company Profiles (Page No. - 99)
13.1 Introduction
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
13.2 SAP
13.3 Oracle
13.4 Infor
13.5 Kronos
13.6 Workday
13.7 IBM
13.8 Sage Software
13.9 Microstrategy
13.10 Tableau
13.11 Zoho
13.12 Crunchr
13.13 Visier
13.14 Talentsoft
13.15 Gaininsights
13.16 Sisense
*Details on Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
14 Appendix (Page No. - 128)
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details
List of Tables (70 Tables)
Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Factor Analysis
Table 3 HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 4 Solution: Market Size By Region, 2017–2024 (USD Million)
Table 5 Services: Market Size By Type, 2017–2024 (USD Million)
Table 6 Services: Market Size By Region, 2017–2024 (USD Million)
Table 7 Implementation and Integration Services Market Size, By Region, 2017–2024 (USD Million)
Table 8 Advisory Services Market Size, By Region, 2017–2024 (USD Million)
Table 9 Support and Maintenance Services Market Size, By Region, 2017–2024 (USD Million)
Table 10 HR Analytics Market Size, By Application Area, 2017–2024 (USD Million)
Table 11 Payroll: Market Size By Region, 2017–2024 (USD Million)
Table 12 Retention: Market Size By Region, 2017–2024 (USD Million)
Table 13 Recruitment: Market Size By Region, 2017–2024 (USD Million)
Table 14 Workforce Management: Market Size By Region,2017–2024 (USD Million)
Table 15 Employee Engagement: Market Size By Region, 2017–2024 (USD Million)
Table 16 Employee Development: Market Size By Region, 2017–2024 (USD Million)
Table 17 HR Analytics Market Size, By Organization Size, 2017–2024 (USD Million)
Table 18 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 19 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 20 Market Size By Deployment Type, 2017–2024 (USD Million)
Table 21 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 22 Cloud: Market Size By Region, 2017–2024 (USD Million)
Table 23 HR Analytics Market, By Vertical, 2017–2024 (USD Million)
Table 24 Consumer Goods and Retail: Market Size By Region, 2017–2024 (USD Million)
Table 25 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 26 IT and Telecom: Market Size By Region, 2017–2024 (USD Million)
Table 27 Manufacturing: Market Size By Region, 2017–2024 (USD Million)
Table 28 Healthcare: Market Size By Region, 2017–2024 (USD Million)
Table 29 Education: Market Size By Region, 2017–2024 (USD Million)
Table 30 Others: Market Size By Region, 2017–2024 (USD Million)
Table 31 HR Analytics Market Size, By Region, 2017–2024 (USD Million)
Table 32 North America: Market Size By Component, 2017–2024 (USD Million)
Table 33 North America: Market Size By Service, 2017–2024 (USD Million)
Table 34 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 35 North America: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 36 North America: Market Size By Application Area, 2017–2024 (USD Million)
Table 37 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 38 North America: Market Size By Country, 2017–2024 (USD Million)
Table 39 Europe: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 40 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 41 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 42 Europe: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 43 Europe: Market Size By Application Area, 2017–2024 (USD Million)
Table 44 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 45 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 46 Asia Pacific: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 47 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 48 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 49 Asia Pacific: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 50 Asia Pacific: Market Size By Application Area, 2017–2024 (USD Million)
Table 51 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 52 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 53 Middle East and Africa: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 54 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 55 Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 56 Middle East and Africa: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 57 Middle East and Africa: Market Size By Application Area, 2017–2024 (USD Million)
Table 58 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 59 Middle East and Africa: Market Size By Country, 2017–2024 (USD Million)
Table 60 Latin America: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 61 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 62 Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 63 Latin America: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 64 Latin America: Market Size By Application Area, 2017–2024 (USD Million)
Table 65 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 66 Latin America: Market Size By Country, 2017–2024 (USD Million)
Table 67 Product/Solution Launches and Enhancements, 2018–2019
Table 68 Business Expansions, 2018–2019
Table 69 Partnerships, Agreements, and Collaborations, 2018– 2019
Table 70 Evaluation Criteria
List of Figures (34 Figures)
Figure 1 HR Analytics Market: Research Design
Figure 2 Microquadrant: Criteria Weightage
Figure 3 HR Analytics Market: Bottom-Up and Top-Down Approaches
Figure 4 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 5 Solution Segment to Hold A Higher Market Share in 2018
Figure 6 Banking, Financial Services, and Insurance Vertical to Account for the Highest Market Share in 2018
Figure 7 Growing Need for Optimizing Workforce and Improving Its Efficiency to Drive Growth of Market During the Forecast Period
Figure 8 Banking, Financial Services, and Insurance Vertical and United States to Dominate North American Market in 2018
Figure 9 India to Grow at the Highest CAGR During the Forecast Period
Figure 10 Drivers, Restraints, Opportunities, and Challenges: HR Analytics Market
Figure 11 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 12 Workforce Management Segment to Grow at the Highest CAGR During the Forecast Period
Figure 13 Small and Medium-Sized Enterprises Segment to Grow at A Higher CAGR During the Forecast Period
Figure 14 Cloud Deployment Type to Grow at A Higher CAGR During the Forecast Period
Figure 15 Consumer Goods and Retail Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 16 Asia Pacific to Witness Highest Growth Rate During the Forecast Period
Figure 17 North America: Market Snapshot
Figure 18 Asia Pacific: Market Snapshot
Figure 19 Key Developments in the Market 2017–2019
Figure 20 HR Analytics Market (Global), Competitive Leadership Mapping, 2019
Figure 21 Geographic Revenue Mix of Top Market Players
Figure 22 SAP: Company Snapshot
Figure 23 SAP: SWOT Analysis
Figure 24 Oracle: Company Snapshot
Figure 25 Oracle: SWOT Analysis
Figure 26 Infor: Company Snapshot
Figure 27 Infor: SWOT Analysis
Figure 28 Kronos: SWOT Analysis
Figure 29 Workday: Company Snapshot
Figure 30 Workday: SWOT Analysis
Figure 31 IBM: Company Snapshot
Figure 32 Sage Software: Company Snapshot
Figure 33 Microstrategy: Company Snapshot
Figure 34 Tableau: Company Snapshot
The study involved 4 major activities in estimating the current market size of the HR analytics market. Exhaustive secondary research was done to collect information about the market. The next step was to validate the findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the HR analytics market.
Secondary Research
In the secondary research process, various secondary sources, including D&B Hoovers, Bloomberg BusinessWeek, and Factiva, have been referred to identify and collect information for this study. The secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, certified publications and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The HR analytics market comprises several stakeholders, such as HR analytics solution vendors, Business Intelligence (BI) vendors, analytics solution providers, cloud solution providers, cloud service brokers, system integrators, consulting service providers, managed service providers, resellers and distributors, research organizations, government agencies, enterprise users, venture capitalists, private equity firms, and startup companies. The demand side of the market consists of enterprises from different industry verticals, such as Banking, Financial Services, and Insurance (BFSI), IT and telecom, consumer goods and retail, media and entertainment, healthcare and life sciences, manufacturing, and others (real state, and travel and hospitality). The supply side includes HR analytics providers offering HR analytics and services. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakup of the primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
HR Analytics Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the HR analytics market. The methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each segment and subsegment, the data triangulation and market breakup procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both demand and supply sides.
Report Objectives
- To define, describe, and forecast the HR analytics market by component, application area, vertical, organization size, deployment type, and region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
- To analyze the market with respect to individual growth trends, prospects, and contributions to the market
- To forecast the market size of 5 main regional segments, namely, North America, Europe, Asia Pacific (APAC), MEA, and Latin America
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the market
- To profile the key players in the market and comprehensively analyze their core competencies in each microsegment
- To analyze the competitive developments, such as agreements, alliances, joint ventures, and mergers and acquisitions, in the HR analytics market
Available customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product analysis
- Product matrix gives a detailed comparison of the product portfolio of each company
Company information
- Detailed analysis and profiling of additional market players
Growth opportunities and latent adjacency in HR Analytics Market
Interested in applications