The global workforce
analytics market is expected to reach USD 1.87 billion by 2025,
according to a new report by Grand View Research, Inc. The growing concern by
the majority of the large enterprises to deal with humongous volume of data
pertinent to human capital is anticipated to spur the demand for workforce
analytics software application platform over the forecast period. The
widespread adoption of human capital information system to enhance
profitability of the industry by reducing operational cost also stimulated the
market growth.
Retail industry is anticipated to be the
fastest-growing application sector owing to the rising implementation of
workforce information system to automate the key human resource related
processes. Retail industries are subjected to exhibit multiple issues related
to inventory management, in-store product distribution, customer handling, and
deployment of sufficient number of resources to the store locations.
The incidence of public and private cloud storage
system by the several business entities with respect to various data
applications scalability, tool capabilities, and optimum implementation is
anticipated to bolster the popularity of cloud storage platform in the field of
data analytics. The effective combination of data analytics tool and cloud
computing platforms to enhance execution flexibility and agility of the data
management system aggravated the demand for the incorporation of cloud
management system by the majority of the business enterprises.
Additionally, cloud storage platform also enables the
data analyst to optimize linear scalability, database virtualization, work
management, and storage optimization. Cloud computing platforms categorically
act as a complementary technological paradigm by enabling flexible network
access to a shared pool of configurable computing resources with minimal cost
to the management.
Browse full research report on Workforce Analytics Market: www.grandviewresearch.com/industry-analysis/workforce-analytics-market
Further
key findings from the study suggest:
- Consulting services is anticipated to exhibit moderate growth with
the CAGR of 16.1% over the forecast period and is anticipated to be valued
at USD 660.3 million by 2025. The absence of essential technology
infrastructure to deploy flexible and comprehensive data analytics model
to track human movement on a real-time basis is anticipated the spur the
market growth.
- The Retail domain is expected to dominate the market accounting for
over 23% of the overall revenue share by 2025. The incorporation of
workforce analytics platform is expected to ensures optimum allocation of
human resources with the minimal operational cost to the organization.
- Asia Pacific is anticipated to incur the fastest growth with a CAGR
of 19.6% over the forecast period. The growth can be attributed to the
presence of fastest growing economies such as China, India, and Japan in
the region. The widespread deployment of the workforce analytics platform
in the BFSI sector to meet the unprecedented demand for customer handling
is anticipated to stimulate the market growth.
- Key players in the workforce analytics market include ADP LLC,
Tableau Software., SAP Se, Genpact Ltd., Oracle Corporation and IBM
Corporation. The market is highly competitive owing to the presence of
numerous solution provider incorporating innovative technologies to offer
product differentiation.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/communication-services
Grand
View Research has segmented the workforce analytics market on the basis of
type, services, deployment, application and region:
Workforce
Analytics Type Outlook (Revenue, USD Million; 2014 - 2025)
- Solution
- Services
Workforce
Analytics Services Outlook (Revenue, USD Million; 2014 - 2025)
- Managed
- Consulting
- System
Integration
Workforce
Analytics Deployment Outlook (Revenue, USD Million; 2014 - 2025)
- Cloud
- On-premise
Workforce
Analytics Application Outlook (Revenue, USD Million; 2014 - 2025)
- Healthcare
- IT &
Telecommunication
- BFSI
- Manufacturing
- Retail
- Aerospace
& Defense
- Others
Workforce
Analytics Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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