Workforce Analytics Global Market Report 2022: Increasing Investments in HR Technologies Bolsters Sector
DUBLIN, Feb. 15, 2023 /PRNewswire/ -- The "Workforce Analytics Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global workforce analytics market is expected to grow from $1.27 billion in 2021 to $1.44 billion in 2022 at a compound annual growth rate (CAGR) of 14.12%. The workforce analytics market is expected to grow to $2.46 billion in 2026 at a compound annual growth rate (CAGR) of 14.21%.
For instance, according to research presented in January 2019 by SD Worx, a Belgium-based global HR and payroll company, 50% of HR professionals across Europe are dissatisfied with how HR analytics is currently prioritized within the industry, and just 9% are very satisfied, indicating a need for better analytics and prioritization.
Additionally, 76% of the organizations intend to increase their investment in HR technology as a whole which includes workforce analytics as well, with 45% intended to increase investment in the next two years and 65% within the next 3 years. In addition, 95% of organizations agreed that high-quality data and analytics are important to the future success of the business. Therefore, the increasing investment in workforce analytics is expected to boost demand for workforce analytics solutions and services during the forecast period.
In July 2021, Accenture Plc, an Ireland-based information technology company acquired Workforce Insight for an undisclosed amount. With this acquisition, Accenture is focused on improving its workforce capabilities and expanding its capacity to help clients with HR transformation. Workforce Insight is a US-based provider of workforce software and workday solutions.
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7. Workforce Analytics Market Regional And Country Analysis
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