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According to new market research report "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", 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.
It is facing unique challenges, such as low-profit margins, information security threats, and compliance requirements.
With the advent of mobile technology, customer preferences and behavior are changing.
The solution leads to better customer satisfaction and engagement.The solution segment to hold a larger market size during the forecast periodThe HR analytics solution has a wide scope of usage among enterprises, as it assists businesses in managing different applications, such as payroll, retention, recruitment, workforce management, employee engagement, and employee development.
This has created opportunities for vendors to provide the HR analytics solution to enterprises across different verticals and help them in managing complex functions, such as recruiting, on-boarding, and training of employees.Speak To Analyst@ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=94472004North America to hold the largest market size during the forecast periodNorth America is estimated to account for the highest market share in 2019.
Its financial position enables it to invest majorly in leading solutions and technologies for effective business operations.The key vendors in the HR analytics market are Oracle (US), SAP (Germany), Infor (US), Workday (US), Sage Software (UK), Kronos (US), MicroStrategy (US), IBM (US), Tableau (US), Zoho (India), Crunchr (Netherland), Visier (Canada), TALENTSOFT (Paris), GainInsights (India), and Sisense(US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.