The Global Employee Engagement Software Market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 13.4%.
— Industrial Aspects of Employee Engagement Software Market
Employee engagement software is termed as the integration of application programs chosen by enterprises for increasing the productivity, retention, and job satisfaction of employees. This software platform is used by organizations to increase their overall profitability and productivity. Generally, employee engagement software is used as an important tool by human resource (HR) departments, for the purpose of employee segmenting, peer recognition, wellness assessment, and employee surveys among others.
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Following Top, Business Players are profiled in this Employee Engagement Software Market report
Key players of this market are, People Gauge (UK), Gensuite (USA), Quantum Workplace (USA), Officevibe (Canada), Tap My Back (Portugal), Transcend (USA), WorkTango (Canada), KaiNexus (Georgia), Vocoli (UK), Key Survey (USA) amongst others.
The rising adoption of employee engagement software in business acts as a factor for driving the growth of the global Employee Engagement Software Market. Moreover, the trend for a technology-driven environment or facilities like flexible systems and effective value deliverable is propelling the growth of the market. However, the increasing issues of security are likely to curtail the growth of employee engagement software market.
According to the type of deployment, the Employee Engagement Software Market is segmented as cloud-based and on-premise. The demand for cloud-based software is more in the organizations owing to the rising usage of cloud-based technology solutions and better flexibility of systems. The rising demand for subscription-based services is fuelling the growth of the cloud-based engagement software market.
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Employee Engagement Software Market Segmentation:
Based on the size of the organization, the Market is segmented into small and medium enterprises (SMEs), and large enterprises. The SMEs segment is having a dominating share in the market owing to the growing number of SMEs.
Based on the end-user category, the Employee Engagement Software Market is segmented as, BFSI, retail, IT & Telecom, healthcare, and others. Among these, IT & Telecomm accounts for a dominating share in the market due to the rapid growth of IT & Telecom and the need for improved productivity & employee retention.
Regional Analysis of Employee Engagement Software Market:
Geographically, North America holds a dominating position in the market, owing to cost-effective systems, easily accessible technology, and minimum investment on IT. The enterprises in this region are replacing the old model of the custom developed system with modern systems with flexible systems. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the increasing need for Employee Engagement Software Market in the organizations in this region.
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Release ID: 520404