Workplace Analytics Market

Workplace Analytics Market Outlook (2023 to 2033)

The global workplace analytics market reached a size of US$ 1.7 billion in 2022 and is projected to climb to US$ 6.42 billion by the end of 2033, expanding rapidly at a CAGR of 13% over the next ten years.

Workplace analytics is a rapidly growing market that provides organizations with tools and insights to optimize and measure the effectiveness of their workplace environment and culture. The market offers solutions for employee productivity, communication, collaboration, engagement, and more. The market is expected to continue growing as organizations seek to improve their workplace culture and increase employee satisfaction.

• Revenue from workplace analytics solutions currently accounts for 28.9% share of the global enterprise performance management market.
• North America held 32.2% share of the global workplace analytics market in 2022 and is forecasted to retain its position throughout the forecast period.
• Europe followed with 22.1% market share in 2022.

Workplace analytics is a set of tools and metrics used to measure and improve the productivity, engagement, and satisfaction of employees in an organizational setting. It uses data from various sources, including email, meeting and communication patterns, and human resource information systems to gain insights into how work gets done.

The goal of workplace analytics is to provide organizations with a more complete understanding of their workplace dynamics and to help them make data-driven decisions that improve the overall workplace experience.

• In November 2022, IBM announced new software to assist enterprises in breaking data down and analytics silos so that they can make data-driven decisions faster and obtain insights into things that are difficult to predict. IBM Business Analytics Enterprise is a business intelligence planning suite that gives users a comprehensive view of data sources across their entire organization.
• In October 2022, Oracle announced a series of developments made to its data and analytics portfolio allowing its customers to make faster and well-informed decisions.

Workplace Analytics Market Size (2023)	US$ 1.89 Billion
Projected Market Value (2033)	US$ 6.42 Billion
Global Market Growth Rate (2023 to 2033)	13% CAGR
North America Market Share (2022)	32.2%
India Market Growth Rate (2023 to 2033)	19% CAGR
IT/Professional Services Industry Market Share (2022)	41.8%

What are the Hindrances to the Adoption of Workplace Analytics?

“Privacy Concerns Associated with Data Collection and Analysis”

As workplace analytics often involve collecting and analyzing sensitive employee and other data related to an organization, privacy concerns, and regulations can limit the use and adoption of these tools. Organizations may resist the implementation of workplace analytics solutions due to concerns about being monitored or their perceived loss of privacy. Storage and protection of sensitive data are also other factors that hinder the adoption of workplace analytics.

• Workforce Software, a worldwide supplier of integrated employee experience and workforce management solutions, introduced its latest iteration of labor forecasting software in February 2022. With the inclusion of advanced features like artificial intelligence (AI), the updated software aims to help organizations respond more rapidly to changing business conditions caused by increased volatility.

Country-wise Insights

What Makes the United States a Leading Market for Workplace Analytics Solutions?

“High Demand for Workplace Analytics Solutions Due to High Focus on Improving Employee Efficiency & Productivity”

The United States accounted for 69.3% share of the global market in 2022.

Workplace analytics solutions have been on the rise in the United States as organizations seek to improve employees’ efficiency and productivity, measure employee engagement and satisfaction, and make data-driven decisions.

Companies are using analytics to gain insights into various aspects of the workplace, such as employee performance, turnover, absenteeism, and more. This trend is expected to continue as organizations embrace digital transformation and seek to leverage data and technology to improve the workplace experience.

What is the Demand Outlook for Workplace Analytics in Germany?

“Availability of Advanced Technology at Affordable Prices Fueling Demand for Workplace Analytics”

Growth of cloud computing and other technologies has made workplace analytics more accessible and affordable for organizations of all sizes, fueling the demand for this solution in the German market. Organizations in Germany are seeking to increase efficiency, reduce costs, and improve decision-making with the help of data.

How is the Demand for Workplace Analytics Shaping Up in India?

“Increasing Adoption of Digital Technologies at Indian Workplaces”

The proliferation of digital technologies in the Indian workplace has spurred a surge in the use of workplace analytics. As organizations increasingly rely on digital tools and platforms to manage their operations, the volume of data generated has also increased, necessitating the collection, analysis, and interpretation of this information.

Workplace analytics solutions serve this purpose by offering insights into employee behavior and performance, enabling evidence-based decision-making, and enhancing overall workplace efficiency and productivity.

Demand for workplace analytics in India is anticipated to increase at a 19% CAGR through 2033.

Category-wise Insights

Why are Cloud-based Workplace Analytics Solutions Preferred?

“Increasing Focus on Enhancing Employee Productivity & Engagement Boosting Demand for Cloud-based Analytics”

Cloud-based workplace analytics refers to a suite of tools and technologies that collect, process, and analyze data from workplace environments to provide insights into employee behavior, productivity, and engagement.

The data is stored and processed in the cloud, allowing for easy access and collaboration. Insights gained from this analysis can be used to enhance the workplace environment, increase employee satisfaction and productivity, and make data-driven decisions.

How is the Services Industry Being Influenced by Workplace Analytics?

“High Demand for Analytics Solutions from Services Industry Due to Rising Need to Improve Workplace Culture”

Workplace analytics can help organizations such as IT/professional services and travel & hospitality to identify factors that contribute to employee engagement and satisfaction, allowing them to make informed decisions about how to improve workplace culture and retain top talent.

By analyzing data on employee behavior, performance, and productivity, organizations can make data-driven decisions regarding their workforce. Workplace analytics provides valuable insights that enable businesses in the services industry to make informed decisions about various aspects such as resource allocation, hiring, and training strategies.

Workplace analytics is a powerful tool that can help the services industry to improve employee efficiency, productivity, and engagement. By leveraging the insights provided by workplace analytics, businesses can make data-driven decisions that lead to better outcomes for both employees and the organization as a whole.

Competitive Landscape

• In September 2022, Workday, Inc., a top provider of enterprise cloud applications for finance and human resources, unveiled a series of innovations and initiatives to aid customers in the evolving work landscape. The newly unveiled offerings include enhancements to boost the efficiency of finance operations, tools to create tailored employee experiences, and the establishment of a more collaborative and interconnected Workday platform that helps companies adjust to and thrive in the current fast-paced business landscape.
• In September 2022, Salesforce and Slack, along with their consulting partners, released industry-specific solutions aimed at helping customers in various sectors such as financial services, manufacturing, communications, retail, media, and technology.

Recent developments related to key players providing workplace analytics solutions have been tracked by analysts at Persistence Market Research, which will be accessible in the full report.

Companies Covered in Workplace Analytics Market

• IBM Corporation
• Oracle Corporation
• SAP SE
• Salesforce
• ADP LLC
• Workday Inc
• Workforce Software
• Kronos Inc
• Visier Inc
• Cornerstone Ondemand