Asia Pacific Employee Monitoring Solution Market to 2027 - Regional Analysis and Forecasts by Offering, Enterprise Size, Industry Vertical
NEW YORK, Jan. 20, 2020 /PRNewswire/ -- Asia-Pacific's employee monitoring solution market is expected to grow from US$ 237.01 Mn in 2018 to US$ 491.94 Mn by the year 2027. This represents a CAGR of 8.6% from the year 2018 to 2027. The employee monitoring solution market is driven by factors such as growing awareness about insider threat, and versatile benefits offered by EMS. However, privacy concerns and stringent rules regarding employee monitoring are the major factors that might slow down the growth of the employee monitoring solution market. Employee monitoring solutions empower enterprises to track employees and gather other information to drive productivity and ensure security. The employee monitoring solutions provide various features such as activity analysis, smart rules and alerts, live views, monitoring keystroke logging, and file transfer tracking, among others. In the current market scenario, customers are becoming price-sensitive and are the focus on the timely delivery of products and services. Thus, to improve productivity and gain better visibility of the organization, companies are adopting employee monitoring solutions. Also, the employee monitoring solutions enables the managers to give the employees with effective feedback, as the manager can provide real tangible examples and area of improvement. The versatile benefits offered by these solutions are the primary factor driving the growth of the employee monitoring solution market.
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According to an American Management Association survey, about 80% of significant companies monitor employees' use of e-mail, Internet, or phone. Therefore, a strong focus of the companies towards the adoption of employee monitoring solutions to drive efficiency and reduce the operational cost is expected to drive the growth of the employee monitoring solution market.
In today's technology-driven ecosystem, SMEs face the challenge of deploying a better resource than their established competitors.This is mainly due to the limited finance and the small number of the team for every department.
SMEs presume technology adoption as a costly affair.However, technologies such as employee monitoring solutions help hassle-free and better functioning of organizations and are therefore widely adopted by SMEs.
Therefore, to gain better visibility into their organizations, improve productivity, and achieve better operational procedures, SMEs are internationally adopting employee monitoring solutions. The growing adoption of employee monitoring solutions by SMEs is creating an opportunity for the players operating in the employee monitoring solution market to gain a strong customer base.
The Asia-Pacific employee monitoring solution market by industry vertical is segmented into the BFSI, government, IT & telecom, manufacturing, retail, and others.The manufacturing sector has had a long association with IT solutions and systems, and business strategies are enabled through IT infrastructure to minimize the latency between supply chain on one side and market initiatives on the other.
There is a strong focus toward gaining more flexibility to cater to the ever-changing customer demands.The overall goal is to reduce fixed costs and achieve better operational practices.
There is an increased demand to achieve greater flexibility to address the ever-changing demands of customers.Also, the companies associated with this sector are shifting their focus toward maintaining high portability by improving productivity and reducing the operational cost.
This factor is driving the revenue generation of the employee monitoring solution market across the manufacturing sector.
The overall employee monitoring solution market size has been derived using both primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia-Pacific employee monitoring solution market.
It also provides an overview and forecast for the Asia-Pacific employee monitoring solution market based on all the segmentation provided with respect to the Asia-Pacific region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia-Pacific employee monitoring solution industry. Some of the players present in Asia-Pacific employee monitoring solution market are Ekran Systems, Inc., EmpMonitor, Fairtrack, iMonitor Software, Intego, Pilixo, SentryPC, StaffCop, Teramind, Inc., and Veriato among others.
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