DUBLIN, Dec. 14, 2023 /PRNewswire/ — The “US HR Analytics Market Outlook to 2028” report has been added to ResearchAndMarkets.com’s offering.
The HR Analytics Market has emerged as a key component within the broader realm of enterprise operational improvement, playing a vital role in data-driven decision-making for HR departments across the United States. With a significant surge in demand for cloud services, AI technologies, and user-centric platforms, organizations are able to enhance employee performance, engagement, and retention efficiently.
Recent technological advancements, coupled with a focus on employee-centric policies and the integration of sophisticated Artificial Intelligence (AI) and Machine Learning (ML), have triggered notable developments in data collection, talent management, and workforce optimization.
Market Analysis:
Positioned within the expansive Human Capital Management (HCM) industry, the US HR Analytics Market is experiencing robust growth fuelled by the implementation of stringent regulations and data-driven insights. Such measures foster improved planning, engagement, and analytical functions within the workforce, contributing to business agility and strategic HR initiatives.
Key Trends by Market Segment:
- Deployment Models: Cloud-based deployment reigns supreme in the HR analytics landscape, given its scalability, cost-effectiveness, and enhanced accessibility. As a stark contrast to on-premise solutions, cloud services offer rapid deployment, facilitating access to real-time data analytics and employee management systems from virtually anywhere.
- End-User Impact: Distinct market segments, including BFSI and IT & Telecom, are leveraging HR analytics to a greater extent for strategic workforce management, skill development, and ensuring high levels of interactive workplace environments conducive to growth and productivity.
- Geographical Influence: The Western region, particularly Silicon Valley, stands out for its concentration of tech organizations and willingness to adopt innovative HR analytics solutions. These entities benefit from seamless integration of 5G technology, cloud services, and real-time data analytics capabilities.
Competitive Landscape:
Major players, such as Workday Inc., Oracle Corporation, SAP SE, and IBM Corporation, among others, continue to drive the US HR Analytics Market. These organizations leverage cutting-edge analytics and AI-driven methodologies to transform workforce data into actionable insights for HR professionals.
Recent Developments:
- LinkedIn’s Skills path initiative leverages analytics to personalize learning and skill development.
- Oracle’s enhancements to its HCM Cloud bolster its real-time data analysis and scalability.
- Workday continues to refine its people analytics systems, focusing on workforce planning and employee engagement strategies.
- SAP’s Success Factors implements AI-driven services to streamline employee and team development processes.
Future Outlook:
Projected to grow substantially, the US HR Analytics Market anticipates a CAGR of approximately 13% from 2022 to 2028. The market is expected to thrive on the back of digitization, with key players deploying advanced AI and Predictive Analytics for deeper workforce insights. The drive towards enhancing employee experience through sentiment analysis and the integration of real-time HR analytics platforms will further propel market growth, shaping a modern, data-oriented HR landscape.
The advent of Augmented Analytics is also predicted to introduce more dynamic reporting capabilities, using AI and Augmented Reality (AR) to bring about predictive behavioral analytics. This forward-looking approach promises to fortify the HR Analytics Market, ensuring its prominent role in the strategic evolution of human resource practices across industries.
Key Topics Covered:
1. Executive Summary
2. US HR Analytics Market Overview
2.1 Taxonomy of the US HR Analytics Market
2.2 US HR Analytics Industry Value Chain
2.3 Ecosystem of US HR Analytics Market
2.4 Government Regulations/Initiatives for the US HR Analytics Market
2.5 Growth Drivers of the US HR Analytics Market
2.6 Issues and Challenges of the US HR Analytics Market
2.7 Impact of COVID-19 on the US HR Analytics Market
2.8 SWOT Analysis
3. US HR Analytics Market Size, 2017 – 2022
4. US HR Analytics Market Segmentation
4.1 By Type of Deployment, 2017 – 2022
4.2 By End-User Type, 2017 – 2022
4.3 By Regional Shift (West, Mid-East, Central and South), 2017-2022
5. US HR Analytics Market Competitive Landscape
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles
5.3.1 Workday, Inc.
5.3.2 Oracle Corporation
5.3.3 SAP SE
5.3.4 ADP Inc.
5.3.5 IBM Corporation
5.3.6 Visier
5.3.7 Cornerstone OnDemand, Inc.
6. US HR Analytics Market Future Market Size, 2022 – 2028
7. US HR Analytics Market Future Segmentation
7.1 By Type of Deployment, 2022 – 2028
7.3 By End-User Type, 2022 – 2028
7.4 By Regional Shift (West, Mid-East, Central and South), 2022-2028
8. Analyst Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/su5xno
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