Workforce Analytics Market to Grow by USD 3.27 Billion from 2025-2029, Driven by Demand for Efficient Workforce Management, Report on AI Redefining Market Landscape - Technavio

NEW YORK, Feb. 13, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The workforce analytics market and it is set to grow by USD 3.27 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of almost 19.1% during the forecast period, according to Technavio. The workforce analytics market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  Accenture PLC, Automatic Data Processing Inc., Brightfield, Bullhorn Inc., Ceridian HCM Holding Inc., Cisco Systems Inc., Cornerstone OnDemand Inc., International Business Machines Corp., Jobvite Inc., Koch Industries Inc., Kronos Inc., New Mountain Capital Group, L.P., Oracle Corp., Paycor HCM Inc., PredictiveHR Inc., Salesforce Inc., SAP SE, Visier Inc., Workday Inc., and WorkForce Software LLC are some of the major market participants -. To know about the vendor offerings - Request a sample report

Workforce Analytics Market 2025-2029: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The workforce analytics market report covers the following areas:

• Workforce Analytics Market Size
• Workforce Analytics Market Trends
• Workforce Analytics Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The workforce analytics market is fragmented, and the degree of fragmentation will accelerate. The demand for efficient workforce management and recruitment will offer immense growth opportunities. However, the Lack of skilled workforce will hamper the market growth

Workforce Analytics Market 2025-2029: Drivers & Challenges

The Workforce Analytics Market is experiencing significant growth due to the increasing importance of people data in driving productivity and performance. With the help of Predictive Workforce Analytics, HR teams can use Data Mining and Regression Analysis for Turnover Modeling and Risk Assessment. HR analytics tools provide Real-time Talent Decisions, Performance Improvement, and Evaluation. Big Data Analytics and Artificial Intelligence enable Pattern Matching and Machine Learning for identifying Talent Gaps and Career Progression. HR teams can also leverage Hiring Teams, Compensation Management, and Development and Training for Employment and Compensation and Benefits. Workforce performance improvement is key, with On-cloud and On-premises solutions available for Professional Services and Managed Services. Workplace trends require constant attention for Hiring, Dismissing, and Employee Collaboration. Long-term labor issues are addressed through Performance Data and HR Data analysis.

In today's dynamic business landscape, workforce analytics has become a crucial tool for large enterprises in IT and telecommunication to optimize their human resources. However, implementing workforce analytics comes with its challenges. One major challenge is the integration of new technologies like blockchain and AI into HR analytics tools. Another challenge is managing the work-from-home model and ensuring employee engagement. Managers need real-time talent decisions for planning improvement and employee performance, but data security is a concern. Employees' people data must be mined for productivity indexing, predictive workforce analytics, and turnover modeling. HR teams must navigate hiring, dismissing, and career progression with the help of big data analytics and ML. Data security, employee experience, and performance anxieties are key areas of focus. HR analytics tools provide regression analysis, pattern matching, and risk assessment to improve productivity and employee retention. Companies can choose between on-cloud and on-premises solutions based on their needs. Professional and managed services can help with the implementation and management of these solutions. Workplace trends continue to evolve, requiring continuous adaptation and innovation.

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This workforce analytics market report extensively covers market segmentation by  

• End-user
• Retail
• BFSI
• Telecom And IT
• Healthcare
• Others
• Application
• Large Enterprises
• Small And Medium Sized Enterprise
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

1.1 Retail-  The Workforce Analytics market is a significant business solution that helps organizations effectively manage their human resources. It utilizes data and analytics to optimize workforce performance, improve productivity, and reduce costs. By providing insights into employee engagement, turnover rates, and skill gaps, Workforce Analytics enables informed decision-making and strategic workforce planning. This market continues to grow, offering various tools and services to meet the evolving needs of businesses.

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Workforce Analytics Market 2025-2029: Key Highlights

• CAGR of the market during the forecast period 2025-2029
• Detailed information on factors that will assist workforce analytics market growth during the next five years
• Estimation of the workforce analytics market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the workforce analytics market across North America, Europe, APAC, South America, and Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of workforce analytics market vendors

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio