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How Is Hiring Efficiency Demand Boosting HR Analytics Market Growth?

Currently, the HR analytics market is highly competitive due to the presence of numerous players, such as Workday Inc., MicroStrategy Incorporated, International Business Machines Corporation, ADP LLC, Zoho Corporation, TalentSoft SA, Oracle Corporation, Sisense Inc., Infor Inc., SAP SE, Sage Group PLC, Crunchr, Visier Inc., and Kronos Incorporated. Presently, the market is dominated by Oracle Corporation, SAP SE, Workday Inc., and ADP LLC, as they offer better quality HR analytics solutions than other players.

The industry segment of the HR analytics market is classified into banking, financial services, and insurance (BFSI), energy and utilities, education, government, healthcare, information technology (IT) and telecom, manufacturing, retail, and others. Under this segment, the BFSI category accounted for the largest market share in 2018.


The dominance of this category can be primarily ascribed to the surging need of financial companies to deploy HR analytics solutions to attract talented youth, optimize their performance, and increase the engagement of existing employees. Globally, North America accounted for the largest share in the HR analytics market in 2018, owing to the rapid technological advancements, extensive IT expenditure, and the presence of numerous large-scale industries and a highly skilled workforce in the region.

Whereas, the Asia-Pacific (APAC) market is expected to demonstrate the fastest growth throughout the forecast years, on account of the mounting investments being made by business organizations in improving operations in emerging economies, such as China and India. Additionally, the improving IT infrastructure and accelerating digitization rate will also fuel the market growth in APAC.

Therefore, the surging need for HR analytics solutions and services among SMEs and the rising demand for efficient hiring in enterprises are the prominent growth drivers of the market.
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