HR Analytics Market - Increasing Workforce Globalization is Enhance Growth

HR analytics includes data mining and business analytics solutions, which analyzes data generated from HR activities such as performance management, employee acquisition, engagement, attendance, compensation, training, etc., and enhances these core HR functions. HR analytics increases the productivity of HR staff by predicting important parameters such as retention, performance, workforce management opportunities, and offers extensive modeling capabilities for workforce planning.

HR analytics also analyzes business scenarios surrounding these functions, thereby guiding HR managers to gain insights from the information. This leads to more relevant decisions and appropriate and timely actions. Analytics solutions test the effectiveness of HR policies and different interventions and enable streamlining of various HR policies.

HR analytics solutions offer integrated functionality for small, mid-sized, and large companies. These solutions help in streamlining HR functions and business intelligence functions, thereby improving the operational efficiency of a company. 

The global HR analytics market can be segmented based on component, enterprise size, end-use industry, and region. In terms of component, the market can be classified into software and services. Software are further categorized based on deployment into cloud-based or on-premise. Based on enterprise size, the HR analytics market can be segregated into small & medium enterprises (SME’s) and large enterprises. Small and medium enterprises (SMEs) are companies with employee strength between 1 and 500.
Large enterprise are companies with employee strength of more than 500. In large enterprises, rate of adoption of HR analytics solution is high, as it assists in compliance management and improves security measures of the organization. In terms of end-user industry, the HR analytics market can be split into BFSI, retail, IT & telecom, healthcare, government, education, manufacturing, and others.
Based on region, the global HR analytics market can be segmented into North America, Asia Pacific, Middle East & Africa, South America, and Europe. The HR analytics market in Asia Pacific is expected to expand at a rapid pace during the forecast period due to the rise in number of mid-sized and small enterprises in the region that are adopting HR analytics.

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