Dublin, July 30, 2024 (GLOBE NEWSWIRE) -- The "Employee Engagement Software - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Employee Engagement Software was valued at an estimated US$940.9 Million in 2023 and is projected to reach US$1.3 Billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the employee engagement software market is driven by several factors, including the increasing recognition of the importance of employee engagement, technological advancements, and the evolving nature of work environments. Companies are increasingly aware that engaged employees are more productive, innovative, and likely to stay with the company longer, leading to a greater focus on tools that can enhance engagement. Technological innovations, such as AI and data analytics, have significantly improved the functionality and effectiveness of these platforms, making them more attractive to businesses.
Additionally, the rise of remote and hybrid work models has created a need for solutions that can maintain engagement and cohesion among dispersed teams. These trends, along with the growing emphasis on mental health and well-being in the workplace, are expected to drive substantial growth in the employee engagement software market in the coming years.
Key Questions Answered:
- How is the Global Employee Engagement Software Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Collaboration & Interaction Function segment, which is expected to reach US$577.2 Million by 2030 with a CAGR of a 4.7%. The Customer Service Function segment is also set to grow at 5.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $256.3 Million in 2023, and China, forecasted to grow at an impressive 7.8% CAGR to reach $268.0 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as 15Five, ClearCompany, Deel, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 397 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $940.9 Million |
| Forecasted Market Value (USD) by 2030 | $1300 Million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Employee Engagement Software - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Focus on Workforce Productivity Throws the Spotlight on Employee Engagement Software
- Technological Advancements in HR Tech Propel Market Growth
- Rising Adoption of Remote Work Solutions Drives Demand for Engagement Tools
- Integration with Performance Management Systems Expands Addressable Market Opportunity
- Growing Focus on Enhancing Employee Experience Generates Demand for Engagement Software
- Regulatory Compliance and Data Protection Requirements Strengthen Business Case for Engagement Solutions
- Enhanced Analytics and Reporting Capabilities Propel Market Growth
- Growing Use of AI and Machine Learning in Employee Engagement Drives Adoption
- The Role of Engagement Software in Reducing Employee Turnover
- Focus on Enhancing Communication and Collaboration Propels Demand
- Rising Demand for Real-Time Feedback Tools
- The Impact of COVID-19 on Employee Engagement and Wellbeing
- Growing Utilization in Small and Medium Enterprises Expands Addressable Market
- The Role of Engagement Software in Supporting Diversity and Inclusion Initiatives
- The Impact of Mobile Engagement Solutions on Workforce Productivity
FOCUS ON SELECT PLAYERS (Total 49 Featured)
- 15Five
- ClearCompany
- Deel
- Hibob
- hubEngage
- JotForm, Inc.
- Kudos Inc.
- Lattice
- Leapsome
- Mitratech
- Mo
- Motivosity
- Synergita
- Xoxoday
- Zoom Video Communications, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2n52hc
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