NEW YORK, April 28, 2022 /PRNewswire/ -- The workforce analytics market will be led by APAC during the forecast period, with the region accounting for 33% of the market growth. The global market size is anticipated to grow by USD 1.62 billion from 2021 to 2026. Moreover, the market will witness a healthy growth at a CAGR of 15.11% during the forecast period.
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Driver and Challenge
The demand for efficient workforce management and recruitment is driving the growth of the workforce analytics market. A large number of companies are employing third-party talent acquisition platforms. Hence, vendors making use of new technologies. Organizations are using tech-based solutions and services for their talent acquisition needs. Many of these solutions have cognitive capabilities that are based on mobile and cloud technology. Cognitive technologies that gather data from social networks and then give actionable insights include AI, machine-to-machine learning, robotic process automation, natural language processing, and predictive algorithms.
The lack of skilled workforce will challenge the workforce analytics market during the forecast period. Companies are using workforce analytics to streamline the recruitment process while boosting quality and efficiency. The adoption of workforce analytics may be attributed to the increase in enterprise-level requirements for specialized occupations, as well as the growing talent pool. However, the gap between the growing amount of data and the number of workers with data analytics skills is widening.
Major Workforce Analytics Companies:
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Workforce Analytics Market End-user Outlook (Revenue, USD bn, 2021-2026)
Workforce Analytics Market Geography Outlook (Revenue, USD bn, 2021-2026)
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APAC will have the highest market share growth during the forecast period. The technological developments and relatively high maturity of the regional market in terms of technology penetration will drive the workforce analytics market growth in APAC during the forecast period. Market growth in this region will be faster than the growth of the market in other regions. China and Japan are the key countries for the workforce analytics market in APAC.
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Workforce Analytics Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 15.11%
Market growth 2022-2026
USD 1.62 billion
YoY growth (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
APAC at 33%
Key consumer countries
US, China, Japan, UK, and Germany
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Accenture Plc, Automatic Data Processing Inc., Beeline.com Ltd., Brightfield, Bullhorn Inc., Cisco Systems Inc., Cornerstone, International Business Machines Corp., Jobvite Inc., Koch Industries Inc., Kronos Inc., Oracle Corp., Paycor Inc., PeopleStreme Pty Ltd., PredictiveHR, Salesforce.com Inc., SAP SE, Visier Inc., Workday Inc., Workforce Insight, and WorkForce Software
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/
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