The global HR analytics market size is anticipated to reach over USD 3 billion by 2025. This can be attributed to the rising penetration of smartphones on 3G, 4G, and 5G networks, increasing the necessity of city traffic solutions, and growing investments in technology-based transportation solutions. —
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The global HR analytics market is majorly driven by the streamline the HR processes and rising demand among enterprises to reduce the cost of HR processes and it is anticipated to drive the growth of the market over the forecast period. However, HR analytics comprises business analytics and business analytics and data mining solutions that analyzes data produced from activities such as employee acquisition, performance management, training, attendance, engagement, compensation, etc., and improves these core HR functions.
Major players functioning in the global HR analytics market are IBM Corporation, Accenture plc, Infosys Limited, ADP LLC, Cognizant Technology Solutions Corp., Ascentis Software Corporation, Oracle Corporation, Beeline, Genpact Ltd., Cornerstone OnDemand, Inc., Kronos, Inc., GainInsights Solutions Pvt. Ltd., SAP SE, PeopleStreme Pty. Ltd., Tableau Software Inc., Visier, Inc., TALENTSOFT, Paylocity, Nakisa, Inc., PeopleFluent Companies, WorkForce Software LLC, and many others. Agreements, collaborations, partnership are some of the strategies adopted by these players.
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In addition, HR analytics improves the throughput of HR staff by forecasting significant factors such as retention, performance, workforce management opportunities, and provides extensive modeling abilities for workforce planning.
Moreover, HR analytics solution also evaluates business scenarios of their functionalities, hence helping HR managers to increase insights from the avail data. However, this leads to more pertinent decision and timely and precise actions.
Likewise, HR analytics solutions also test the competence of HR regulations and several interferences and allow rationalizing of different HR policies. These solutions also provide integrated functionality for large, medium-sized, and small scale companies. Such HR solutions aid in rationalizing HR functions as well as business intelligence functions which boosts the operational effectiveness of the company. In addition to this, HR analytics encompasses forecasting, data management, data cleansing, data collection, and data visualization. It also combines and compares data to offer actionable, relevant, and timely outcomes in order to surge performance.
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The global HR analytics market is segmented into component, application, deployment type, as well as geographical analysis. In terms of component, the global market is segregated into services and software. On considering the application, the market is divided into talent management, core HR, and workforce management. In terms of deployment type, the global market is segregated into cloud-based and on premise and cloud-based. On considering the regional landscape, the global HR analytics market is segregated into Europe, North America, South America, Asia Pacific, and the Middle East and Africa.
Among these, the North American region for HR analytics solution is anticipated to account for the largest market share across the globe, owing to North American region is considered as a major hub for technological innovations and a leading adopter of innovative and modern technologies. Likewise, the enterprises in the North American region are majorly focusing on the growing their workforce efficiency and adopting the improved practices for HR operations.
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Key Segments of the Global HR Analytics Market
Component Overview, 2018-2025 (USD Billion)
Application Overview, 2018-2025 (USD Billion)
Deployment Type Overview, 2018-2025 (USD Billion)
Regional Overview, 2018-2025 (USD Billion)
Rest of Europe
Rest of APAC
Rest of South America
The Middle East and Africa
Rest of Middle East & Africa
What does the report include?
The study on the global HR analytics market includes qualitative factors such as drivers, restraints, and opportunities
The study covers the competitive landscape of existing/prospective players in the HR analytics industry and their strategic initiatives for the product development
The study covers a qualitative and quantitative analysis of the market segmented on the basis of type and application. Moreover, the study provides similar information for the key geographies.
Actual market sizes and forecasts have been provided for all the above-mentioned segments.
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