HR Analytics Market Size to Surpass USD 11.96 Billion by 2032 Owing to Increasing Adoption of Data-Driven Workforce Strategies

GlobeNewswire On February 27, 2025 20:00 IST

The HR analytics market is experiencing rapid growth as businesses increasingly rely on data-driven decision-making to enhance workforce management, optimize HR operations, and improve employee engagement.

Pune, Feb. 27, 2025 (GLOBE NEWSWIRE) — “The HR Analytics Market size was USD 3.61 Billion in 2023 and is expected to reach USD 11.96 Billion by 2032, growing at a CAGR of 14.3% over the forecast period of 2024-2032.”

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Major Players Analysis Listed in this Report are:

Cegid (Cegid Talent Management, Cegid HR Suite)
Crunchr (Crunchr Analytics Platform, Crunchr Insights Dashboard)
GainInsights (GainInsights Analytics Platform, GainInsights People Analytics)
IBM Corp. (IBM Kenexa Talent Management, IBM Watson Analytics for HR)
Infor (Infor HCM Analytics, Infor CloudSuite Workforce Management)
MicroStrategy Inc. (MicroStrategy HR Analytics, MicroStrategy Business Intelligence for HR)
Oracle Corp. (Oracle Human Capital Management Cloud, Oracle PeopleSoft HR Analytics)
Sage Software Solutions Pvt. Ltd. (Sage HRMS Analytics, Sage Business Cloud People Analytics)
SAP SE (SAP SuccessFactors Workforce Analytics, SAP HR Analytics Cloud)
Sisense Inc. (Sisense HR Analytics Platform, Sisense People Analytics)
Tableau Software, LLC. (Tableau HR Analytics, Tableau Employee Data Insights)
UKG Inc. (UKG Pro Analytics, UKG Dimensions Workforce Analytics)
Visier, Inc. (Visier People Analytics, Visier Workforce Planning)
Workday, Inc. (Workday People Analytics, Workday HCM Analytics)
Zoho Corp. Pvt. Ltd. (Zoho People Analytics, Zoho HR Analytics Dashboard)

HR Analytics Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 3.16 Billion
Market Size by 2032	USD 11.96 Billion
CAGR	CAGR of 14.3% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	Increasing Adoption of Data-Driven Decision Making in Human Resource Management Drives Growth in HR Analytics Market

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Expanding Role of HR Analytics in Workforce Management

Strategic Workforce Decisions – HR analytics solutions enable organizations to streamline workforce planning, monitor employee performance, and improve efficiency.
Technological Integration – The expanding use of HR analytics across industries is propelling the growth of the market.
HR Tech Investments – An uptick in funding for HR technology startups is driving innovation across the market.
AI & Machine Learning Advancements – Talent acquisition, workforce optimization, employee retention, the whole shebang is getting subject to predictive modeling.
Effectiveness metrics – Adoption rates and customer satisfaction levels showcase the increasing dependency on HR analytics tools.

By Solution, Workforce Planning Dominates HR Analytics Market, While Talent Analytics is Poised for Rapid Growth

The Workforce Planning segment accounted for the greatest revenue share of 27% in the HR Analytics market in 2023. Growth in this segment is also driven by the rising need for data-driven strategies to improve workforce management. Workforce planning tools help organizations forecast talent gaps, optimize departmental allocation of resources, and align HR functions with organizational targets.

The Talent Analytics segment is expected to grow at the highest CAGR of 16.23% during the forecast period. Companies are leveraging talent analytics solutions to enhance recruitment procedures and evaluate performance and retention strategies. Innovations like IBM’s Watson Talent Insights and Workday’s predictive analytics for talent management are positioning this segment to gain serious traction.

By Service, Implementation & Integration Dominates HR Analytics Market, While Support & Maintenance Grows Rapidly

In 2023, the Implementation & Integration segment was the market leader, accounting for 37% of revenue. The roadmap ahead towards the seamless deployment of HR analytics solutions that can be integrated with existing HR systems. Partnerships such as SAP SuccessFactors and Accenture’s implementation services are increasing the growth in the market.

The Support & Maintenance segment is anticipated to grow at a CAGR of 16.17%, as organizations seek continuous system upgrades, bug fixes, and optimization services. HR tech providers, including Workday, are scaling their support for better user experience and better performance.

HR Analytics Market Segmentation:

By Solution

Employee Engagement & Development
Payroll & Compensation
Recruitment
Retention
Talent Analytics
Workforce Planning
Others

By Service

Implementation & Integration
Support & Maintenance
Training & Consulting

By Deployment

Hosted
On-premise

By Enterprise Size

Large Enterprise
Small & Medium Enterprise (SME)

By End-use

Academia
BFSI
Government
Healthcare
IT & Telecom
Manufacturing
Retail
Others

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By Deployment, On-Premises Deployment Dominates HR Analytics Market, While Hosted Solutions Gain Momentum

In 2023, the On-premises segment held a 55% market share, as organizations favor more control over data security and system integration. On-premises solutions are preferred by large corporations and industries that strictly regulate data privacy.

Hosted deployment is anticipated to be the fastest-growing segment at a CAGR of 14.85%. The scalability, cost-effectiveness, and ease of implementation of hosted HR analytics solutions are now adopted by businesses that reduce the expenses related to IT infrastructure maintenance.

By Enterprise Size, Large Enterprises Dominate HR Analytics Adoption, While SMEs Drive Future Growth

The Large Enterprise segment held the largest market share of 54% in the HR Analytics market in 2023. Typically, large organizations employ HR analytics to organize their huge workforce, improve employee engagement and performance, and drive strategic HR initiatives.

The SME segment will register a CAGR of over 15.08% during the forecast period. Factors such as Access to affordable HR analytics solutions for smaller workforce will drive the growth of the market in the region. Financially viable and scalable solutions are making HR analytics readily accessible to SMEs.

By End-use, IT & Telecom Sector Dominates HR Analytics Market, While Retail Emerges as Fastest-Growing Segment

In 2023, the IT & Telecom industry held the largest share, 23% of revenue share in the HR Analytics market. Growing demand in this sector is driven by rapid digital transformation and the need for advanced workforce optimization tools.

The Retail Segment is likely to register the highest growth rate of 17.68% during the forecast period. By analyzing data, retailers can improve their workforce planning, optimize staffing, and also boost employee engagement with rapid market demand changes, making it one of the tech trends in HR.

North America Leads HR Analytics Market, While APAC Emerges as Fastest-Growing Region

In 2023, North America accounted for a leading share of 34% in the HR Analytics market globally. Growth in the region was attributed to more widespread adoption of digital transformation, a higher incidence of advanced HR technology deployment, and the presence of major vendors of HR analytics including Oracle, SAP, and Workday. These are AI-powered HR. Ai BRAND to those companies who will aggregate all the information, processes, contacts, and analytics to manage their workers for an organization.

The APAC market is expected to grow at the fastest pace during the forecast period, with a CAGR of 15.4%. Major factors driving the growth of the market area include Rapid Industrialization, Increasing Use of HR Analytics in Developing countries such as India, China, and Japan, and Government Initiatives that Aid Digital Transformation. HR analytics are being used by companies in the region to increase workforce productivity, enhance employee engagement, and strengthen the decision-making processes.

Recent news

In December 2023, Cegid, a prominent provider of enterprise resource planning (ERP) solutions, collaborated with GEP, a leading procurement technology firm, to enhance its procurement operations. This partnership enabled Cegid to integrate GEP’s advanced procurement software, optimizing workflow efficiency and strengthening data analytics capabilities within its HR management system.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. HR Analytics Market Segmentation, By Solution

8. HR Analytics Market Segmentation, By End-Use

9. HR Analytics Market Segmentation, By Service

10. HR Analytics Market Segmentation, By Enterprise Size

11. HR Analytics Market Segmentation, By Deployment

12. Regional Analysis

13. Company Profiles

14. Use Cases and Best Practices

15. Conclusion

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