HR Analytics Market by Component, Application Area (Workforce Management, Recruitment, and Employee Development), Organization Size, Deployment Type, Vertical (BFSI, Manufacturing, and IT and Telecom), and Region - Global Forecast to 2024

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Date: 13-Jun-2019
No. of pages: 135
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The growing demand to improve retention and need to hire skilled talent with the help of advanced technologies to drive the overall growth of the HR analytics market

The global HR analytics market size is expected to grow from USD 1.9 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period. The HR analytics market is driven by various factors, such as easy employee on-boarding, better employee engagement, and enhanced workforce efficiency. However, the cultural barrier to adopt advanced solutions over traditional systems can hinder the growth of the market.

The work force management segment to grow at the highest CAGR during the forecast period

The diverse nature of business, coupled with remote working employees, has resulted in the generation of huge enterprise data. Modern workforce tools, such as HR analytics, can leverage the benefits of the enterprise data to improve work force management.HR analytics helps in predicting employee and project needs during the planning phase. This helps organizations save and allocate resources according to project requirements.

The integration and implementation segment to hold the highest market share during the forecast period

Integration and implementation services provide ease to organizations in terms of deploying HR analytics. The services ensure that applications would be integrated effortlessly with their internal and external systems, and get the most out of investments made on IT infrastructure. System integrators help enterprises understand the operational functionalities of their existing systems and establish reliable connectivity between applications for revenue growth.

The consumer goods and retail vertical to grow at the highest CAGR during the forecast period

With time, many retail organizations have deployed a mix of technologies, computer systems, and disparate applications to cater to the growing demands of customers. Customer experience proves to be a very vital differentiating factor among a wide array of online shopping options. To improve performance and achieve higher profits, it is important to have skilled employees and offer the best-in-class offerings through touch points, such as stores, and web or mobile applications. Hence, retailers across the globe are formulating data-driven strategies for targeting more customer with a better convergence rate. HR analytics helps retailers in training their employees for offering better experience to customers.

The Small and Medium-sized Enterprises (SMEs) segment to grow at a higher growth rate during the forecast period

The SMEs segment is expected to grow at a higher CAGR in the HR analytics market during the forecast period. More than larger enterprises, the SMEs face a greater resource crunch and require better methods to solve the complexities for cost optimization on their assets and requirements. Therefore, these days, the SMEs are majorly focusing on utilizing the HR analytics solution to work globally and manage multiple workers.

Asia Pacific (APAC) to record the highest growth rate during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period. The rapid digital transformation in the region has increased the need for HR analytics solution and services. HR analytics enables organizations to fine-tune HR processes so that they can perfectly align employees’ performance with their vision and goals. Australia and New Zealand (ANZ), India, and China have emerged as the undisputed leaders in the HR analytics market. North America is projected to hold the largest market size during the forecast period.

In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the HR analytics market.


  • By Company type: Tier 1 – 42%, Tier 2 – 38%, and Tier 3 – 20%

  • By Designation: C-level – 40%, Director Level – 35%, and Others – 25%

  • By Region: North America – 35%, Europe – 27%, APAC– 23%,RoW – 15%


Major vendors offering HR analytics solution and services across the globe include Oracle (US), SAP (Germany), Infor (US), Workday (US), Sage Software (UK), Kronos (US), Micro Strategy (US), IBM (US), Tableau (US), Zoho (India), Crunchr (Netherland), Visier (Canada), TALENTSOFT (Paris), Gain Insights (India), and Sisense(US).The study includes an in-depth competitive analysis of the key players in the HR analytics market, along with their company profiles, recent developments, and key market strategies.

Research coverage

The market study covers the HR analytics market size across segments. It aims at estimating the market size and growth potential of this market across different segments, such as components, application areas, deployment types, organization size, verticals, and regions. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report

The report would provide the market leaders/new entrants in this market with information about the closest approximations of the revenue numbers for the overall HR analytics market and its sub segments. The report would help stakeholders understand the competitive landscape, gain more insights to position their businesses better, and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information about key market drivers, restraints, challenges, and opportunities.

HR Analytics Market by Component, Application Area (Workforce Management, Recruitment, and Employee Development), Organization Size, Deployment Type, Vertical (BFSI, Manufacturing, and IT and Telecom), and Region - Global Forecast to 2024

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.2 Market Breakup and Data Triangulation
2.3 Competitive Leadership Mapping Research Methodology
2.4 Market Size Estimation
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Market Forecast
2.6 Assumptions for the Study
2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the HR Analytics Market
4.2 Market in North America, By Vertical and Country
4.3 Market Major Countries

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption Among Enterprises to Make Data-Driven Decisions
5.2.1.2 Rising Demand for Workforce Optimization and Talent Mobility
5.2.2 Restraints
5.2.2.1 Varying Structure of Regulatory Policies and Data Regulations
5.2.2.2 Cultural Barrier to Adopt Advanced Solutions Over Traditional Systems
5.2.3 Opportunities
5.2.3.1 Availability of Huge Volume of HR Data and Increase in Number of Data Sources
5.2.3.2 Increasing Adoption of Artificial Intelligence and Machine Learning to Assist Decision-Making
5.2.4 Challenges
5.2.4.1 Inconsistent and Unstructured Data Format
5.2.4.2 Prevalent Concerns Over Deployment and Usage of Advanced Solutions
5.3 Industry Trends
5.3.1 Use Case 1: Kronos
5.3.2 Use Case 2: Crunchr
5.3.3 Use Case 3: Talentsoft

6 HR Analytics Market By Component
6.1 Introduction
6.2 Solution
6.2.1 Changing Workforce Dynamics and Rapidly Increasing Amount of HR Data to Drive Growth of Solution Segment
6.3 Services
6.3.1 Implementation and Integration
6.3.1.1 Increasing Focus on Ensuring Smooth Integration With Various HR Systems to Drive Demand for Implementation and Integration Services
6.3.2 Advisory Services
6.3.2.1 Increasing Adoption of Complex Analytical Tools to Drive Demand for Advisory Services
6.3.3 Support and Maintenance
6.3.3.1 Growing Need for Updating HR Analytics Solution to Spur Demand for Support and Maintenance Services

7 HR Analytics Market By Application Area
7.1 Introduction
7.1.1 Payroll
7.1.1.1 Increasing Focus on Attracting Top Talents to Drive Demand for HR Analytics
7.1.2 Retention
7.1.2.1 Growing Need to Keep Attrition Rate Low to Increase Demand for HR Analytics
7.1.3 Recruitment
7.1.3.1 Growing Need to Improve Hiring Process to Drive Adoption of HR Analytics
7.1.4 Workforce Management
7.1.4.1 Increasing Demand for Workforce Optimization to Boost Growth of HR Analytics Market
7.1.5 Employee Engagement
7.1.5.1 Growing Focus on Keeping Employees Engaged and Happy to Drive Demand for HR Analytics
7.1.6 Employee Development
7.1.6.1 Increasing Demand to Bridge Skill Gap to Boost Demand for HR Analytics

8 HR Analytics Market By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.2.1 Increasing Need to Analyze Employee Data for Achieving Organizational Goals to Drive HR Analytics Adoption Among Large Enterprises
8.3 Small and Medium-Sized Enterprises
8.3.1 Focus on Improving Operational Efficiency and Profit to Boost Growth of Market in Small and Medium-Sized Enterprises Segment

9 HR Analytics Market By Deployment Type
9.1 Introduction
9.2 On-Premises
9.2.1 Concerns Over Security of Sensitive Data to Drive Adoption of On-Premises HR Analytics Solution
9.3 Cloud
9.3.1 Scalability, Enhanced Collaboration, and Cost- Effectiveness to Boost Adoption of Cloud HR Analytics Solution

10 HR Analytics Market By Vertical
10.1 Introduction
10.2 Consumer Goods and Retail
10.2.1 Growing Need to Enhance Employee Skills to Drive Growth of Market in Consumer Goods and Retail Vertical
10.3 Banking, Financial Services, and Insurance
10.3.1 Focus on Building Highly Engaged Workforce to Spur Demand for HR Analytics in Banking, Financial Services, and Insurance Vertical
10.4 IT and Telecom
10.4.1 Growing Need to Match Employment Requirements to Drive Growth of Market in IT and Telecom Vertical
10.5 Manufacturing
10.5.1 Need to Track Performance of Employees to Increase Implementation of HR Analytics Solution in Manufacturing Vertical
10.6 Healthcare
10.6.1 Management of Rotational Shifts for Offering Services to Patients to Boost Growth of Market in Healthcare Vertical
10.7 Education
10.7.1 Automation of HR Processes to Drive Growth of Market in Education Vertical
10.8 Others

11 HR Analytics Market By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 Need to Achieve Operational Efficiency Through Better Employee-Organization Engagement to Drive Demand for HR Analytics in the United States
11.2.2 Canada
11.2.2.1 Stable Economy and Adoption of Cloud-Based Services to Boost Growth of HR Analytics Market in Canada
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 Growing Need for Retaining Skilled Employees to Drive Adoption of HR Analytics Solution in the United Kingdom
11.3.2 Germany
11.3.2.1 Advancement Toward Digitalization to Create Better Opportunities for HR Analytics Vendors in Germany
11.3.3 France
11.3.3.1 Organizations in France to Adopt HR Analytics Solution for Optimizing HR Applications
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 Australia and New Zealand
11.4.1.1 Alignment of Workforce Strategies With Organizations’ Business Strategies to Drive Adoption of HR Analytics Solution in Australia and New Zealand
11.4.2 China
11.4.2.1 Growing Need for Tracking and Improving Employee Performance to Drive Adoption of HR Analytics Solution in China
11.4.3 India
11.4.3.1 Need to Streamline Employee Training and Evaluation to Increase Adoption of HR Analytics Solution in India
11.4.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 United Arab Emirates
11.5.1.1 Growing Need for Reducing Cost of HR Processes to Increase Demand for HR Analytics in the United Arab Emirates
11.5.2 Saudi Arabia
11.5.2.1 Various Government Initiatives for Big Data and Analytics to Drive Demand for HR Analytics in Saudi Arabia
11.5.3 South Africa
11.5.3.1 Growing Awareness of Big Data and Analytics Among Enterprises to Increase Demand for HR Analytics in South Africa
11.5.4 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Growing Awareness of Analytics and Its Benefits to Drive Demand for HR Analytics in Brazil
11.6.2 Mexico
11.6.2.1 Changing Workforce Dynamics and Culture to Increase Demand for HR Analytics in Mexico
11.6.3 Rest of Latin America

12 Competitive Landscape
12.1 Overview
12.2 Competitive Scenario
12.2.1 Product/Solution Launches and Enhancements
12.2.2 Business Expansions
12.2.3 Partnerships, Agreements, and Collaborations
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Dynamic Differentiators
12.3.3 Innovators
12.3.4 Emerging Companies

13 Company Profiles
13.1 Introduction
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
13.2 SAP
13.3 Oracle
13.4 Infor
13.5 Kronos
13.6 Workday
13.7 IBM
13.8 Sage Software
13.9 Microstrategy
13.10 Tableau
13.11 Zoho
13.12 Crunchr
13.13 Visier
13.14 Talentsoft
13.15 Gaininsights
13.16 Sisense

*Details on Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

List of Tables

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Factor Analysis
Table 3 HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 4 Solution: Market Size By Region, 2017–2024 (USD Million)
Table 5 Services: Market Size By Type, 2017–2024 (USD Million)
Table 6 Services: Market Size By Region, 2017–2024 (USD Million)
Table 7 Implementation and Integration Services Market Size, By Region, 2017–2024 (USD Million)
Table 8 Advisory Services Market Size, By Region, 2017–2024 (USD Million)
Table 9 Support and Maintenance Services Market Size, By Region, 2017–2024 (USD Million)
Table 10 HR Analytics Market Size, By Application Area, 2017–2024 (USD Million)
Table 11 Payroll: Market Size By Region, 2017–2024 (USD Million)
Table 12 Retention: Market Size By Region, 2017–2024 (USD Million)
Table 13 Recruitment: Market Size By Region, 2017–2024 (USD Million)
Table 14 Workforce Management: Market Size By Region,2017–2024 (USD Million)
Table 15 Employee Engagement: Market Size By Region, 2017–2024 (USD Million)
Table 16 Employee Development: Market Size By Region, 2017–2024 (USD Million)
Table 17 HR Analytics Market Size, By Organization Size, 2017–2024 (USD Million)
Table 18 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 19 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 20 Market Size By Deployment Type, 2017–2024 (USD Million)
Table 21 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 22 Cloud: Market Size By Region, 2017–2024 (USD Million)
Table 23 HR Analytics Market, By Vertical, 2017–2024 (USD Million)
Table 24 Consumer Goods and Retail: Market Size By Region, 2017–2024 (USD Million)
Table 25 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 26 IT and Telecom: Market Size By Region, 2017–2024 (USD Million)
Table 27 Manufacturing: Market Size By Region, 2017–2024 (USD Million)
Table 28 Healthcare: Market Size By Region, 2017–2024 (USD Million)
Table 29 Education: Market Size By Region, 2017–2024 (USD Million)
Table 30 Others: Market Size By Region, 2017–2024 (USD Million)
Table 31 HR Analytics Market Size, By Region, 2017–2024 (USD Million)
Table 32 North America: Market Size By Component, 2017–2024 (USD Million)
Table 33 North America: Market Size By Service, 2017–2024 (USD Million)
Table 34 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 35 North America: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 36 North America: Market Size By Application Area, 2017–2024 (USD Million)
Table 37 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 38 North America: Market Size By Country, 2017–2024 (USD Million)
Table 39 Europe: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 40 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 41 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 42 Europe: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 43 Europe: Market Size By Application Area, 2017–2024 (USD Million)
Table 44 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 45 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 46 Asia Pacific: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 47 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 48 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 49 Asia Pacific: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 50 Asia Pacific: Market Size By Application Area, 2017–2024 (USD Million)
Table 51 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 52 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 53 Middle East and Africa: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 54 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 55 Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 56 Middle East and Africa: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 57 Middle East and Africa: Market Size By Application Area, 2017–2024 (USD Million)
Table 58 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 59 Middle East and Africa: Market Size By Country, 2017–2024 (USD Million)
Table 60 Latin America: HR Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 61 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 62 Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 63 Latin America: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 64 Latin America: Market Size By Application Area, 2017–2024 (USD Million)
Table 65 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 66 Latin America: Market Size By Country, 2017–2024 (USD Million)
Table 67 Product/Solution Launches and Enhancements, 2018–2019
Table 68 Business Expansions, 2018–2019
Table 69 Partnerships, Agreements, and Collaborations, 2018– 2019
Table 70 Evaluation Criteria

List of Figures

Figure 1 HR Analytics Market: Research Design
Figure 2 Microquadrant: Criteria Weightage
Figure 3 HR Analytics Market: Bottom-Up and Top-Down Approaches
Figure 4 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 5 Solution Segment to Hold A Higher Market Share in 2018
Figure 6 Banking, Financial Services, and Insurance Vertical to Account for the Highest Market Share in 2018
Figure 7 Growing Need for Optimizing Workforce and Improving Its Efficiency to Drive Growth of Market During the Forecast Period
Figure 8 Banking, Financial Services, and Insurance Vertical and United States to Dominate North American Market in 2018
Figure 9 India to Grow at the Highest CAGR During the Forecast Period
Figure 10 Drivers, Restraints, Opportunities, and Challenges: HR Analytics Market
Figure 11 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 12 Workforce Management Segment to Grow at the Highest CAGR During the Forecast Period
Figure 13 Small and Medium-Sized Enterprises Segment to Grow at A Higher CAGR During the Forecast Period
Figure 14 Cloud Deployment Type to Grow at A Higher CAGR During the Forecast Period
Figure 15 Consumer Goods and Retail Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 16 Asia Pacific to Witness Highest Growth Rate During the Forecast Period
Figure 17 North America: Market Snapshot
Figure 18 Asia Pacific: Market Snapshot
Figure 19 Key Developments in the Market 2017–2019
Figure 20 HR Analytics Market (Global), Competitive Leadership Mapping, 2019
Figure 21 Geographic Revenue Mix of Top Market Players
Figure 22 SAP: Company Snapshot
Figure 23 SAP: SWOT Analysis
Figure 24 Oracle: Company Snapshot
Figure 25 Oracle: SWOT Analysis
Figure 26 Infor: Company Snapshot
Figure 27 Infor: SWOT Analysis
Figure 28 Kronos: SWOT Analysis
Figure 29 Workday: Company Snapshot
Figure 30 Workday: SWOT Analysis
Figure 31 IBM: Company Snapshot
Figure 32 Sage Software: Company Snapshot
Figure 33 Microstrategy: Company Snapshot
Figure 34 Tableau: Company Snapshot

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