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May 7, 2019 9:46 AM ET

HR Analytics Software Market is anticipated to grow at a strong CAGR by 2024

HR Analytics Software Market is anticipated to grow at a strong CAGR by 2024

iCrowd Newswire - May 7, 2019

HR Analytics Software Market Research Growth 2024

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. HR analytics involves data collection, data cleansing, data management, forecasting, and visualization. It integrates and correlates data to provide relevant, actionable, and timely insights in order to improve performance and return-on-investment.

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HR analytics solutions and services facilitate complex compensation planning and enable enterprises to improve budget allocations and align compensation decisions with organizational guidelines. The global HR analytics market is primarily driven by the increasing demand for cloud-based solutions. Cloud-based solutions are cost-effective, which enables easy and convenient storage and download of data over the cloud. Moreover, increasing workforce globalization is anticipated to enhance the adoption of HR analytics solutions by small, medium, and large enterprises. Increasing adoption of HR analytics solutions in small- and medium-sized organizations are expected to drive the HR analytics market during the forecast period. Integrating different HR systems and collection of data is a challenge to the HR analytics market. Leading players in the market are providing integrated comprehensive HR analytics solutions for all core HR functions along with analytics capabilities.

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This report presents a comprehensive overview, market shares and growth opportunities of HR Analytics Software market by product type, application, key companies and key regions.

This study considers the HR Analytics Software value generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Cloud Based
Web Based
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Large Enterprises

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
United States
Southeast Asia
Middle East & Africa
South Africa
GCC Countries

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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
HR Bakery
Professional Advantage
360 Feedback

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global HR Analytics Software market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of HR Analytics Software market by identifying its various subsegments.
Focuses on the key global HR Analytics Software players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the HR Analytics Software with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the size of HR Analytics Software submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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