Employee Engagement Software Market By Deployment (Cloud-based, On-Premises); By Organization Size (Small & Medium Enterprises (SME’s), Large Enterprises); By Application (BFSI, Retail, IT & Telecommunication, Healthcare); By Region- Opportunity Analysis and Industry Forecast, 2020-2027

Date : Jul 2021

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Report ID : 25

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Category : Information Technology

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Report Format:  PDF EXCEL PPT WORD

The Global Employee Engagement Software Market was valued at USD 900 Million in 2020 and is likely to reach USD 2,015 Million by 2027, growing at a CAGR of 15% during the forecast period (2021–2027).

The Employee Engagement Software is installed by an organization with a goal to monitor the productivity and efficacy of the employees and to maintain a strong bond between the employee and the organization. Besides keeping abreast with the performance of the employee, the employee engagement software helps to check discrepancies between the employee and the organization. It also helps to accomplish the nature of the employee with the organization. It gauges the level of interest and dedication of the employee towards the company. The software provides the company data about the employee so that they can be up to date about the progress of the employee. The employee engagement software is developed to understand the intention, emotional feelings and duties and roles of an employee towards the organization and promotes development of suitable engagement activities. 

Employee Engagement Software Market


Major driving forces are the increase in contract-based jobs, escalating outsourcing activities, and increasing virtual workplaces. There is lucrative surge in the number of organizations.  As the number of organizations rise, the demand for employee engagement software will rise simultaneously. Additionally, digitization, adoption of digital devices such as smartphones and mobile phones where employee engagement software can be used, will also lead to the rise in the employee engagement software market.

Large capital investments and integration costs will hamper the growth of the employee engagement software market. Cost of training to use the software, adapting to new technology, and updating software, will also hinder the growth of the employee engagement software market. IT industries require the workforce to be trained to use new software technologies. Additionally, policy training is also required to avoid security-related issues. For instance, an employee should be equipped with adequate guidelines and training to use a new integrated software. Furthermore, low level of awareness of the advantages of the employee engagement software will also withhold the growth of the employee engagement software market. Due to extra efforts to train employees are required, some organizations do not prefer to use employee engagement software tools.

The Global Employee Engagement Software Market Segmentation:

By Deployment

  • Cloud-based
  • On-Premises

By Organization Size

  • Small & Medium Enterprises (SME’s)
  • Large Enterprises

By Application

  • BFSI
  • Retail
  • IT & Telecommunication
  • Healthcare

By region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

By Deployment, the Cloud-Based Segment to account for the highest growth during the forecast period.

By deployment, the market has been classified into on-premise and cloud-based. The cloud-based segment is expected to hold the largest market share during the forecast year. The cloud-based software is easy to use and allows the management of an organization to remotely access the software. With an increasing number of organizations and with the increasing work from home situations, cloud-based solutions make it viable for increasing productivity, maintaining transparency and evaluate employees.

 By Organization Size, the Small and Medium Enterprise Segment to be Most Profitable during the forecast period.

On the basis of organization size, the small and medium enterprises segment is expected to rise during the forecast period.  SMEs are increasing dramatically, and the demand for advance technologies in order to improve sales and market shares are on the rise too. As SMEs continue to grow, communication between the SMEs also grow simultaneously. In order to share data and information and interact with each other, there will be a demand for the employee engagement software. Also, small and medium enterprises can be more creative and flexible in employee engagement in comparison to larger enterprises. Therefore, the use of the employee engagement software in this sector is more than larger industries.

By Application, the healthcare segment is likely to account for the largest share in the employee engagement software market during the forecast period

Based on application, the employee engagement software industry is segmented into BFSI, healthcare, manufacturing, IT & telecom, retail. The healthcare segment will be valued at USD 129 million by 2027. The factors leading to the rise in the healthcare segment is primarily to sustain the effective performance of the employees.  The healthcare industry has a upward trend in employment even though other industries have gradually declined. However, retaining employees is a challenge in healthcare and in order to reverse this, healthcare organizations are focused towards employee engagement. Every employee in healthcare, directly impacts the patient and thus the employee engagement software encourages the employee to become patient oriented and make fewer errors.

Based on regions, North American region was accounted for the highest growth in the Employee Engagement Software Market in the year 2020

Based on region, the North American region is expected to grow the highest in the Global Employee Engagement Software Market during the forecast period. A large number of contract-based jobs is one of the major factors for the boom in the market of the employee engagement software. The number of rising organizations in this region will bolster the growth of the employee engagement software market. With rising growth in organizations, large number of key players in the region and effective use of the employee engagement software, the North American market trends of employee engagement software will witness a surge during the forecast period. The acceptance of the product in the US and Canada will also be advantageous.  

Company Profiles and Competitive Intelligence:

The major players operating in the global Employee Engagement Software Market include 15Five, Degree, Officevibe, Qualtrics, Kudos, Fond Technologies, Motivosity, Reward Gateway, Culture Amp, TINYhr, Energage, Branch Messenger, GetFeedback, Quantum Workplace, HALO Recognition among others are the key players operating in this market are focusing on collaborating with various stakeholders and innovating new products. The companies are investing in research and development.

The report also provides in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges

Drivers

  1. Rise in adoption of smart phones
  2. Increasing contract-based jobs

Restraints

  1. Low awareness level of benefits
  2. High capital investment for integration of employee engagement software

Opportunities

  1. Surge in the number of organizations
  2. Acceptance of new technology and employee engagement software

Covid 19 Impact on the Employee Engagement Software Market

The sudden outbreak of the Covid 19 pandemic  has drastically impacted the economies all around the world and there has also been a significant impact on the Employee Engagement Software Market.  There have been major changes in the way businesses operate. The lockdown forced everyone to stay indoors and adapt to working from home. This has brought about tremendous changes in company policies and employer employee relationships. Virtual offices have grown and established a demand for employee engagement software to improve employee engagement. The working structure today is more dynamic and complex as employees are working remotely. In order to maintain proper communication with employees, global organizations are adapting to employee engagement and the employee engagement software market will see a significant rise.

The report also provides in-depth analysis of key market trends

Sr No Trends Impact
1 Investment in employee communication software Positive
2 ‘Me Too Movement’ made a global impact on employer employee relationship Positive
3 Expanding outsourcing activities Positive

The report also provides in-depth analysis of recent News Developments and Investments

  • A software company, Humu, released the AI based “nudge engine” in 2018 which is an employee engagement software based on the AI technology which turns the ONA data into the format required by the organization to improve their work. It is mainly intended to It is designed to detect behavioural change to settle the problem of an employee.
  • Peer-to-Peer Feedback solution was introduced for project collaboration by EightSpokes, a software company in 2017. This software provides real-time feedback to the organisation and its employees which supports the organisation to achieve the desired outcome. This programme will enable the company to increase the customer base by providing easy solutions for employee engagement.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

  1. 15Five
  2. Degree
  3. Officevibe
  4. Qualtrics
  5. Kudos
  6. Fond Technologies
  7. Motivosity
  8. Reward Gateway
  9. Culture Amp
  10. TINYhr
  11. Energage
  12. Branch Messenger
  13. GetFeedback
  14. Quantum Workplace
  15. HALO Recognition

The unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Key Players Positioning Matrix
  5. Regulatory scenario
  6. Strategies Adopted-Benchmarking Heat Map
  7. Market trends
  8. Covid-19 impact analysis
  9. Product comparison
  10. Pre & Post COVID 19 impact on the Market
  11. Competitive Landscape

Frequently Asked Questions (FAQs)

Who are the key players in the Employee Engagement Software Industry?

The key players in Global Employee Engagement Software Market include 15Five, Degree, Officevibe, Qualtrics, Kudos, Fond Technologies, Motivosity, Reward Gateway, Culture Amp, TINYhr, Energage, Branch Messenger, GetFeedback, Quantum Workplace, HALO Recognition

What is the share of North America in Employee Engagement Software Market?

North America employee engagement software market is expected to record a market share of 38.7% during the forecast period.

What is the estimated market growth rate?

The estimated market growth rate is 15%

How big is the Global Employee Engagement Software Market?

The Global Employee Engagement Software Market was valued at USD .901 billion and is likely to reach USD 2.15 billion by 2027.

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  • Section 1: Introduction
    • Engagement Objective
    • Scope of the Study: Segmentation 
    • Timeframe, Currency and Limitations
  • Section 2: Research Methodology
    • 3P Research Approach
    • Market Sizing Approach
    • Data Sources
    • Primary Research Coverage
  • Section 3: Executive Summary
    • Global Employee Engagement Software Market Summary
    • Market Snapshot
    • Regional Snapshot
  • Section 4: Market Overview of Employee Engagement Software Market
    • Drivers
    • Restraints
    • Opportunities
    • Market Trends
  • Section 5: Premium Insights
    • Industry Prospects
    • Major Market Segments
    • Key Trends
    • Competitive Benchmarking
    • SWOT Analysis
    • Strategies Adopted-Benchmarking Heat Map
    • Recent News and Developments
    • Value Chain Analysis
    • Pain-Point Analysis
    • Porter’s Five Forces Analysis
  • Section 6: Market Overview of Employee Engagement Software Market
    • By Deployment
  • Cloud-based
  • On-Premises
    • By Organization Size
  • Small & Medium Enterprises (SME’s)
  • Large Enterprises
    • By Application
  • BFSI
  • Retail
  • IT & Telecommunication
  • Healthcare
  • Others
  • Section 9: Future Forecast & Impact of COVID-19
    • Covid 19 - Prevalence Analysis
    • Key Trends Analysis
    • 2020 Market Forecast (Pre & Post Covid-19)
    • Key Factor Analysis
    • Ecosystem Impact & Opportunity Analysis
  • Section 10: Regional Market Analysis (US Millions)
    • North America
      • Market Overview
      • Market Outlook
      • Key Countries & Market Estimates
        • United States
        • Canada
    • Europe
      • Market Overview
      • Market Outlook
      • Key Countries & Market Estimates
        • Germany
        • France
        • United Kingdom
        • Rest of Europe
    • Asia Pacific
      • Market Overview
      • Market Outlook
      • Key Countries & Market Estimates
        • China
        • Japan
        • India
        • South Korea
        • Rest of APAC
    • Latin America
      • Market Overview
      • Market Outlook
      • Key Countries & Market Estimates
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East & Africa
      • Market Overview
      • Market Outlook
      • Key Countries & Market Estimates
        • GCC
        • Rest of MEA
  • Section 11: Competitive Scenario
    • Competitive Landscape
    • Investment Scenario by key Players
    • Key Player Overview
    • Top 5 Player Comparison
    • Player Wise Geographic Presence
    • Player Wise Target Applications
    • Competitive positioning and strategies of market players
  • Section 12: Company Profiles
  1. 15Five
  2. Degree
  3. Officevibe
  4. Qualtrics
  5. Kudos
  6. Fond Technologies
  7. Motivosity
  8. Reward Gateway
  9. Culture Amp
  10. TINYhr
  11. Energage
  12. Branch Messenger
  13. GetFeedback
  14. Quantum Workplace
  15. HALO Recognition

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