Product Code: PMRREP33024
Persistence Market Research recently conducted an in-depth analysis of the HR Analytics Market, resulting in a comprehensive report that delves extensively into its global landscape. This detailed publication provides valuable insights into the market's dynamics, trends, opportunities, and challenges, offering a thorough overview of its structure. With the support of exclusive data and statistics, the research predicts the anticipated growth trajectory of the HR Analytics Market spanning from 2024 to 2032.
The HR analytics market is projected to grow steadily at a promising CAGR of 12.4% from 2024 to 2032. With a value of US$ 2.53 billion in 2024, it is expected to reach US$ 9 billion by 2032.
Key Insights:
- HR Analytics Market CAGR (2024-2032): 12.4%
- HR Analytics Market Value (2024): US$ 2.53 Bn
- HR Analytics Market Value (2032): US$ 9 Bn
HR Analytics Market - Report Scope
The surge in demand for HR analytics solutions is primarily driven by the integration of HR processes with cutting-edge technology and the expansion of sectors engaging new employees globally. This trend is compelling organizations to adopt the latest HR practices, solutions, and tools.
The current upward trajectory of the HR analytics market is indicative of the increasing involvement of multiple sectors in critical processes like talent acquisition, retention, recruitment, and employee engagement. HR analytics systems play a pivotal role in streamlining these intricate processes, facilitating data storage, segmentation, and analysis with the aid of various HR analytics tools.
Market Growth Drivers
Demand for Data-Driven Decision Making: Organizations are increasingly recognizing the value of data in making informed decisions. HR analytics provides valuable insights into workforce trends, employee performance, and talent management, empowering organizations to make data-driven decisions to improve efficiency and productivity.
Focus on Employee Engagement and Retention: With the war for talent intensifying, organizations are placing greater emphasis on employee engagement and retention. HR analytics enables organizations to analyze employee sentiment, identify factors influencing engagement, and develop strategies to enhance retention rates, ultimately reducing turnover costs.
Advancements in Technology: Technological advancements, particularly in artificial intelligence (AI), machine learning, and predictive analytics, are fueling the growth of the HR analytics market. These technologies enable more sophisticated analysis of HR data, including predictive modeling for workforce planning, identifying high-potential employees, and predicting future talent needs.
Market Restraints
Data Privacy and Security Concerns: The collection and analysis of employee data raise concerns about privacy and security. Organizations must navigate complex regulatory frameworks such as GDPR and CCPA to ensure compliance and protect employee data from unauthorized access or misuse.
Implementation Challenges: Implementing HR analytics solutions requires substantial investment in technology, infrastructure, and employee training. Organizations may face challenges in integrating HR analytics systems with existing HRIS (Human Resource Information Systems) and ensuring data quality and consistency across different platforms.
Opportunities
Integration of Artificial Intelligence and Machine Learning: Advancements in AI and machine learning offer opportunities to enhance the capabilities of HR analytics solutions. Implementing AI-powered algorithms can enable predictive analytics for workforce planning, talent acquisition, and employee retention, providing organizations with valuable insights to make proactive decisions.
Expansion of Cloud-Based Solutions: The shift towards cloud-based HR analytics solutions presents significant growth opportunities. Cloud-based platforms offer scalability, flexibility, and accessibility, making it easier for organizations to deploy and manage HR analytics tools without significant upfront investments in infrastructure. Vendors can capitalize on this trend by offering scalable and customizable cloud-based solutions tailored to the needs of different industries and organizational sizes.
Key Questions Answered in Report::
- What is the current size and growth rate of the HR analytics market?
- What are the main drivers driving the growth of the HR analytics market?
- What are the major challenges and barriers hindering market growth?
- What are the emerging trends and opportunities in the HR analytics market?
- What are the main applications and use cases of HR analytics solutions?
Key Companies Profiled
- SAP
- Oracle
- Infor
- Kronos
- Workday
- IBM
- Sage Software
- Microstrategy
- Tableau
- Zoho
HR Analytics Market Segmentation:
By Components
Implementation and Integration Services
Advisory Services
Support and Maintenance Service
By Application Area
- Payroll
- Retention
- Recruitment
- Workforce Management
- Employee Engagement
- Employee Development
By Deployment
By Region
- North America
- Latin America
- Europe
- APAC
- Middle East & Africa"
Table of Contents
1. Executive Summary
- 1.1. Global HR Analytics Market Snapshot, 2024-2032
- 1.2. Market Opportunity Assessment, 2024-2032, US$ Mn
- 1.3. Key Market Trends
- 1.4. Future Market Projections
- 1.5. Premium Market Insights
- 1.6. Industry Developments and Key Market Events
- 1.7. PMR Analysis and Recommendations
2. Market Overview
- 2.1. Market Scope and Definition
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
- 2.3. HR Analytics Market: Value Chain
- 2.4. Macro-Economic Factors
- 2.4.1. Global Sectorial Outlook
- 2.4.2. Global GDP Growth Outlook
- 2.5. Forecast Factors - Relevance and Impact
- 2.6. Covid-19 Impact Assessment
- 2.7. PESTLE Analysis
- 2.8. Porter Five Force's Analysis
3. ICT Spending
4. Pricing Analysis
- 4.1. Pricing Analysis
- 4.1.1. Subscription Model
- 4.1.2. Perpetual License
5. Global HR Analytics Market Outlook: Historical (2019-2023) and Forecast (2024-2032)
- 5.1. Key Highlights
- 5.1.1. Market Size and Y-o-Y Growth
- 5.1.2. Absolute $ Opportunity
- 5.2. Market Size (US$ Mn) Analysis and Forecast
- 5.2.1. Historical Market Size Analysis, 2019-2023
- 5.2.2. Current Market Size Forecast, 2024-2032
- 5.3. Global HR Analytics Market Outlook: Deployment
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Mn) Analysis by Deployment, 2019-2023
- 5.3.3. Current Market Size (US$ Mn) Forecast by Deployment, 2024-2032
- 5.3.3.1. On-premises
- 5.3.3.2. Cloud
- 5.4. Market Attractiveness Analysis: Deployment
- 5.5. Global HR Analytics Market Outlook: Component
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Mn) Analysis by Component, 2019-2023
- 5.5.3. Current Market Size (US$ Mn) Forecast by Component, 2024-2032
- 5.5.3.1. Solution
- 5.5.3.2. Services
- 5.5.3.2.1. Implementation and Integration Services
- 5.5.3.2.2. Advisory Services
- 5.5.3.2.3. Support and Maintenance Service
- 5.6. Market Attractiveness Analysis: Component
- 5.7. Global HR Analytics Market Outlook: Application Area
- 5.7.1. Introduction / Key Findings
- 5.7.2. Historical Market Size (US$ Mn) Analysis by Application Area, 2019-2023
- 5.7.3. Current Market Size (US$ Mn) Forecast by Application Area, 2024-2032
- 5.7.3.1. Payroll
- 5.7.3.2. Retention
- 5.7.3.3. Recruitment
- 5.7.3.4. Workforce Management
- 5.7.3.5. Employee Engagement
- 5.7.3.6. Employee Development
- 5.8. Market Attractiveness Analysis: Application Area
6. Global HR Analytics Market Outlook: Region
- 6.1. Key Highlights
- 6.2. Historical Market Size (US$ Mn) Analysis by Region, 2019-2023
- 6.3. Current Market Size (US$ Mn) Forecast by Region, 2024-2032
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
- 6.4. Market Attractiveness Analysis: Region
7. North America HR Analytics Market Outlook: Historical (2019-2023) and Forecast (2024-2032)
- 7.1. Key Highlights
- 7.2. Historical Market Size (US$ Mn) Analysis by Market, 2019-2023
- 7.2.1. by Country
- 7.2.2. by Deployment
- 7.2.3. by Component
- 7.2.4. by Application Area
- 7.3. Current Market Size (US$ Mn) Forecast by Country, 2024-2032
- 7.3.1. U.S.
- 7.3.2. Canada
- 7.4. Current Market Size (US$ Mn) Forecast by Deployment, 2024-2032
- 7.4.1. On-premises
- 7.4.2. Cloud
- 7.5. Current Market Size (US$ Mn) Forecast by Component, 2024-2032
- 7.5.1. Solution
- 7.5.2. Service
- 7.5.2.1. Implementation and Integration Services
- 7.5.2.2. Advisory Services
- 7.5.2.3. Support and Maintenance Services
- 7.6. Current Market Size (US$ Mn) Forecast by Application Area, 2024-2032
- 7.6.1. Payroll
- 7.6.2. Retention
- 7.6.3. Recruitment
- 7.6.4. Workforce Management
- 7.6.5. Employee Engagement
- 7.6.6. Employee Development
- 7.7. Market Attractiveness Analysis
8. Europe HR Analytics Market Outlook: Historical (2019-2023) and Forecast (2024-2032)
- 8.1. Key Highlights
- 8.2. Historical Market Size (US$ Mn) Analysis by Market, 2019-2023
- 8.2.1. by Country
- 8.2.2. by Deployment
- 8.2.3. by Component
- 8.2.4. by Application Area
- 8.3. Current Market Size (US$ Mn) Forecast by Country, 2024-2032
- 8.3.1. Germany
- 8.3.2. France
- 8.3.3. U.K.
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Russia
- 8.3.7. Turkiye
- 8.3.8. Rest of Europe
- 8.4. Current Market Size (US$ Mn) Forecast by Deployment, 2024-2032
- 8.4.1. On-premises
- 8.4.2. Cloud
- 8.5. Current Market Size (US$ Mn) Forecast by Component, 2024-2032
- 8.5.1. Solution
- 8.5.2. Service
- 8.5.2.1. Implementation and Integration Services
- 8.5.2.2. Advisory Services
- 8.5.2.3. Support and Maintenance Services
- 8.6. Current Market Size (US$ Mn) Forecast by Application Area, 2024-2032
- 8.6.1. Payroll
- 8.6.2. Retention
- 8.6.3. Recruitment
- 8.6.4. Workforce Management
- 8.6.5. Employee Engagement
- 8.6.6. Employee Development
- 8.7. Market Attractiveness Analysis
9. East Asia HR Analytics Market Outlook: Historical (2019-2023) and Forecast (2024-2032)
- 9.1. Key Highlights
- 9.2. Historical Market Size (US$ Mn) Analysis by Market, 2019-2023
- 9.2.1. by Country
- 9.2.2. by Deployment
- 9.2.3. by Component
- 9.2.4. by Application Area
- 9.3. Current Market Size (US$ Mn) Forecast by Country, 2024-2032
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
- 9.4. Current Market Size (US$ Mn) Forecast by Deployment, 2024-2032
- 9.4.1. On-premises
- 9.4.2. Cloud
- 9.5. Current Market Size (US$ Mn) Forecast by Component, 2024-2032
- 9.5.1. Solution
- 9.5.2. Service
- 9.5.2.1. Implementation and Integration Services
- 9.5.2.2. Advisory Services
- 9.5.2.3. Support and Maintenance Services
- 9.6. Current Market Size (US$ Mn) Forecast by Application Area, 2024-2032
- 9.6.1. Payroll
- 9.6.2. Retention
- 9.6.3. Recruitment
- 9.6.4. Workforce Management
- 9.6.5. Employee Engagement
- 9.6.6. Employee Development
- 9.7. Market Attractiveness Analysis
10. South Asia & Oceania HR Analytics Market Outlook: Historical (2019-2023) and Forecast (2024-2032)
- 10.1. Key Highlights
- 10.2. Historical Market Size (US$ Mn) Analysis by Market, 2019-2023
- 10.2.1. by Country
- 10.2.2. by Deployment
- 10.2.3. by Component
- 10.2.4. by Application Area
- 10.3. Current Market Size (US$ Mn) Forecast by Country, 2024-2032
- 10.3.1. India
- 10.3.2. Southeast Asia
- 10.3.3. ANZ
- 10.3.4. Rest of South Asia & Oceania
- 10.4. Current Market Size (US$ Mn) Forecast by Deployment, 2024-2032
- 10.4.1. On-premises
- 10.4.2. Cloud
- 10.5. Current Market Size (US$ Mn) Forecast by Component, 2024-2032
- 10.5.1. Solution
- 10.5.2. Service
- 10.5.2.1. Implementation and Integration Services
- 10.5.2.2. Advisory Services
- 10.5.2.3. Support and Maintenance Services
- 10.6. Current Market Size (US$ Mn) Forecast by Application Area, 2024-2032
- 10.6.1. Payroll
- 10.6.2. Retention
- 10.6.3. Recruitment
- 10.6.4. Workforce Management
- 10.6.5. Employee Engagement
- 10.6.6. Employee Development
- 10.7. Market Attractiveness Analysis
11. Latin America HR Analytics Market Outlook: Historical (2019-2023) and Forecast (2024-2032)
- 11.1. Key Highlights
- 11.2. Historical Market Size (US$ Mn) Analysis by Market, 2019-2023
- 11.2.1. by Country
- 11.2.2. by Deployment
- 11.2.3. by Component
- 11.2.4. by Application Area
- 11.3. Current Market Size (US$ Mn) Forecast by Country, 2024-2032
- 11.3.1. Brazil
- 11.3.2. Mexico
- 11.3.3. Rest of Latin America
- 11.4. Current Market Size (US$ Mn) Forecast by Deployment, 2024-2032
- 11.4.1. On-premises
- 11.4.2. Cloud
- 11.5. Current Market Size (US$ Mn) Forecast by Component, 2024-2032
- 11.5.1. Solution
- 11.5.2. Service
- 11.5.2.1. Implementation and Integration Services
- 11.5.2.2. Advisory Services
- 11.5.2.3. Support and Maintenance Services
- 11.6. Current Market Size (US$ Mn) Forecast by Application Area, 2024-2032
- 11.6.1. Payroll
- 11.6.2. Retention
- 11.6.3. Recruitment
- 11.6.4. Workforce Management
- 11.6.5. Employee Engagement
- 11.6.6. Employee Development
- 11.7. Market Attractiveness Analysis
12. Middle East & Africa HR Analytics Market Outlook: Historical (2019-2023) and Forecast (2024-2032)
- 12.1. Key Highlights
- 12.2. Historical Market Size (US$ Mn) Analysis by Market, 2019-2023
- 12.2.1. by Country
- 12.2.2. by Deployment
- 12.2.3. by Component
- 12.2.4. by Application Area
- 12.3. Current Market Size (US$ Mn) Forecast by Country, 2024-2032
- 12.3.1. GCC
- 12.3.2. Egypt
- 12.3.3. South Africa
- 12.3.4. Northern Africa
- 12.3.5. Rest of Middle East & Africa
- 12.4. Current Market Size (US$ Mn) Forecast by Deployment, 2024-2032
- 12.4.1. On-premises
- 12.4.2. Cloud
- 12.5. Current Market Size (US$ Mn) Forecast by Component, 2024-2032
- 12.5.1. Solution
- 12.5.2. Service
- 12.5.2.1. Implementation and Integration Services
- 12.5.2.2. Advisory Services
- 12.5.2.3. Support and Maintenance Services
- 12.6. Current Market Size (US$ Mn) Forecast by Application Area, 2024-2032
- 12.6.1. Payroll
- 12.6.2. Retention
- 12.6.3. Recruitment
- 12.6.4. Workforce Management
- 12.6.5. Employee Engagement
- 12.6.6. Employee Development
- 12.7. Market Attractiveness Analysis
13. Competition Landscape
- 13.1. Market Share Analysis, 2024
- 13.2. Market Structure
- 13.2.1. Competition Intensity Mapping by Market
- 13.2.2. Competition Dashboard
- 13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. SAP
- 13.3.1.1. Overview
- 13.3.1.2. Segments and Deployments
- 13.3.1.3. Key Financials
- 13.3.1.4. Market Developments
- 13.3.1.5. Market Strategy
- 13.3.2. Oracle
- 13.3.3. Infor
- 13.3.4. Kronos
- 13.3.5. Workday
- 13.3.6. Talentsoft
- 13.3.7. Sisense Inc
- 13.3.8. Sage Group plc
- 13.3.9. Kronos Incorporated
- 13.3.10. Legartise
- 13.3.11. Crunchr
- 13.3.12. Microstrategy Incorporated
- 13.3.13. INFOR INC
- 13.3.14. zoho corporation
- 13.3.15. Zoios
14. Appendix
- 14.1. Research Methodology
- 14.2. Research Assumptions
- 14.3. Acronyms and Abbreviations