Global HR Analytics Market Size USD 14.42 Billion in 2032 | Emergen Research

Vancouver, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Vancouver, Nov. 08, 2023 (GLOBE NEWSWIRE) – The global HR analytics market size was USD 3.10 Billion in 2021 and is expected to register a revenue CAGR of 15.0% during the forecast period, according to the latest analysis by Emergen Research. Growing adoption of HR analytics among large, medium, and small size enterprises to make data-driven decisions is a major factor projected to support market revenue growth between 2022 and 2032.

Organizations can leverage Artificial Intelligence (AI), predictive analysis, and computing power of cloud to analyze human resource data, which can be used for digital representation of workforce and drive better and personalized employee experiences. HR analytics tools with Machine Learning (ML) algorithms can create data co-relations that accurately predict future business outcomes. For example, these tools can predict how diversity in the workforce will impact sales performance of organizations.

Talenbrium is an advanced human resource consulting firm that uses data and analytics to help companies develop effective global talent strategies. Their platform provides insights into skills, hiring trends, and the talent pool to help HR professionals make informed decisions around workforce planning and recruitment.

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Scope of Research

Major Companies and Competitive Landscape

The global HR analytics market is fragmented with many large, medium, and small-sized companies accounting for majority of market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective HR analytics. Some major companies included in the global HR analytics market report are:

• IBM Corporation
• Oracle
• Talenbrium
• SAS Institute Inc.
• Infor
• Sage Group plc
• Zoho Corporation Pvt. Ltd.
• Visier, Inc.
• Syncfusion Inc.
• UKG Inc.
• Degreed, Inc.
• ADP, Inc.
• Cegid 

Strategic Development

• On 26 May 2022, Visier, which is a global leader in people announced a strategic alliance with Deloitte to provide organizations with guidance and professional services support around their people analytics journey, combining state-of-the-art technology with world-renowned consulting. Organizations are always under pressure to manage their talent with people decisions and business outcomes and there are growing expectations of CEOs, investors, and customers that can have better outcomes and data-informed decisions.

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Some Key Highlights From the Report

• The service segment is expected to register a steady revenue CAGR over the forecast period. Implementation and integration under the service segment help in trouble-free deployment of people analytics systems with internal and external systems of organizations. This also enables organizations to understand  functionalities of current systems and create reliable connectivity among solutions.
• The cloud segment is expected to register a rapid growth rate during the forecast period. Organizations are adopting cloud computing infrastructure to gain benefits from technologies of recent times that will help to enhance business efficiency along with the economic value. Cloud-based HR analytics system provides a centralized management system irrespective of business size.
• The North America market accounted for largest revenue share in 2021 owing to rising innovation in HR Analytics systems and presence of key market players, such as Oracle, SAS Institute Inc., IBM, and others, in the region.
• Some major companies in the global market report include International Business Machines (IBM) Corporation, Oracle, SAS Institute Inc., Infor, Sage Group plc, Zoho Corporation Pvt. Ltd., Visier, Inc., Syncfusion Inc., UKG Inc., Degreed, Inc., ADP, Inc., and Cegid.
• On 03 March 2022, Oracle released Oracle Advanced HCM Controls, which is expected to help HR professionals and leaders gain enhanced visibility into potential compliance and fraud-related issues within their systems as well as block suspicious activities as they occur.

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Emergen Research has segmented the global HR analytics market based on component, deployment, organization size, application, verticals, and region:

• Component Outlook (Revenue, USD Billion; 2019–2032)
  • Services

• • 1. Consulting
    2. Training & Support
    3. Implementation and Integration
    4. Others

• • Solution
• Deployment Outlook (Revenue, USD Billion; 2019–2032)
  • On-premises
  • Cloud
• Organization Size Outlook (Revenue, USD Billion; 2019–2032)
  • Large Enterprises
  • Small and Medium-Sized Enterprises (SMEs)
• Application Outlook (Revenue, USD Billion; 2019–2032)
  • Recruitment
  • Retention
  • Payroll
  • Workforce Management
  • Employee Development
  • Employee Engagement
  • Others
• Verticals Outlook (Revenue, USD Billion; 2019–2032)
  • Government
  • BFSI
  • IT & Telecom
  • Manufacturing
  • Education & Training
  • Energy & Utilities
  • Healthcare
  • Other
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

About Emergen Research

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