Employee Monitoring Solution Market 2020 to 2027 – Market Share, Growth, Industry Segments, Competitor Landscape, Key Players, Trends and Forecasts
Employee Monitoring Solution Market Synopsis:
The employee monitoring solution market is witnessing constant revenue
growth. Market growth attributes to the increasing number of enterprises
adopting these solutions. Besides, the rising adoption of employee monitoring
solutions across the BFSI, IT & telecom, and retail industries drive the
growth of the market. Moreover, the rising demand for advanced solutions for
enhanced control over employees escalates market growth.
According to Market Research Future (MRFR), the global employee
monitoring solution market is expected to create a valuation of USD 3.84 BN by
2023, growing at 22.6% CAGR throughout the forecast period (2018–2023). Factors
such as increasing investments by enterprises in deploying modern time tracking
tools to increase employee productivity substantiate market growth.
Additionally, the augmenting demand for advanced solutions to collect
& analyze the data that helps in better decision-making and increasing
overall productivity boost the employee monitoring solution market size. The
growing need for better workforce management solutions, alongside stringent
regulatory compliances regarding access and security, propel the Employee Monitoring
Solution Market.
Furthermore, the increasing need among organizations to optimize
employee productivity accelerates the global employee monitoring solution
market growth. On the other hand, rising concerns regarding compromised
employee privacy are the major factors projected to impede market growth.
Rising adoption of employee monitoring solutions integrated with identity &
access management (IAM) and security incident & event management (SIEM) would
support market growth throughout the review period.
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Employee Monitoring Solution Market Competitive Analysis:
Highly competitive, the employee monitoring solution market appears
fragmented due to the presence of several notable players. To gain a larger
competitive share, industry players initiate strategies such as mergers &
acquisitions, collaboration, expansion, and technology launch. Market players
make substantial investments to drive R & D activities and to expand the
global footprints.
Major Key Players:
Players active in the employee monitoring solution market are Birch
Grove Software, Inc. (US), InterGuard (US), FairTrak (India), IMonitor Software
(US), Netsoft Holdings, LLC (US), Micro Focus (UK), Rapid7 (US), Splunk Inc.
(US), Forcepoint (US), ObserveIT (US), Securonix (US), Imperva (US), LogRhythm,
Inc. (US), One Identity LLC. (US), and SolarWinds ULC (Canada), among
others.
Global Employee Monitoring Solution Market Segments:
The market is segmented into seven dynamics;
·
By Component: Solutions and
Services.
·
By Type: Standalone (productivity suite, project supervision and
management, and surveillance suite) and Integrated.
·
By Deployment
Mode: On-Premise and On-Cloud.
·
By Application: System Monitoring, Application Monitoring,
File Monitoring, Network Monitoring, Database Monitoring, and others.
·
By Vertical : Banking, Financial Services & Insurance
(BFSI), Retail, Government & Defense, Healthcare & Life Sciences,
Energy & Utilities, Manufacturing, Telecommunication & IT, and others.
·
By
Organization Size: Small and Medium-sized Enterprises (SMEs) and
Large Enterprises.
·
By Regions :
Europe, North America, APAC, and Rest-of-the-World.
Global Employee Monitoring Solution Market Regional Analysis:
North America dominates the global employee monitoring solution market.
The largest market share attributes to the widespread adoption of employee
monitoring solutions in rising numbers of enterprises. Besides, the rapid
adoption of EMS across many technologically advanced industries, such as
retail, BFSI, and IT & telecommunication, drives the employee monitoring
solution market share in North America.
Moreover, the rising demand for advanced solutions for better management
of resources substantiates the employee monitoring solution industry in the
region. The increasing workforce in organizations and the early adoption of
advanced technologies and innovations in HRM solutions High R&D investments
in developing advanced solutions and high economic growth increase the market
size.
Europe stands second in the global employee monitoring solution market.
The market growth is driven by the increasing demand for employee monitoring
solutions to optimize employee productivity. Additionally, the rising uptake of
employee monitoring solutions and increasing business in the region create
substantial market demand. The UK and Germany are emerging markets in the
region, providing impetus to the regional market. The European employee
monitoring solution market is expected to grow at a significant CAGR during the
forecast period.
The Asia Pacific region also holds a sizable share in the global
employee monitoring solution market. Factors such as rapidly growing corporate
companies in the region and the rising adoption of cloud-based services boost
the growth of the regional market. Moreover, growing government initiatives to
foster digitalization positively impact the employee monitoring solution market
size. Simultaneously, the increasing awareness about the benefits offered by
employee monitoring solutions propels the regional market growth.
Industry/Innovation/Related News:
October 26, 2020 ---- The ENX Networks,
a joint solution for the secure exchange of critical development, purchasing,
and production control data from the European automotive industry, announced
the deployment of Netsurit Productivity Monitor to manage employee
work-life balance.
Maintaining employee output and efficiency had become challenging under
work from home (WFH) circumstances due to the COVID-19 pandemic. In this
scenario, NPM tools prove to be more effective, offering solutions to monitor
employees. ENX association comprises European vehicle manufacturers, suppliers,
and organizations.
Table of
Contents
1 Executive
Summary
1.1 Market Attractiveness Analysis
1.1.1 Global Employee Monitoring Solution
Market, By Component
1.1.2 Global Employee Monitoring Solution
Market, By Deployment
1.1.3 Global Employee Monitoring Solution
Market, By Organization Size
1.1.4 Global Employee Monitoring Solution
Market, By Type
1.1.3 Global Employee Monitoring Solution
Market, By Application
1.1.4 Global Employee Monitoring Solution
Market, By Vertical
1.1.5 Employee Monitoring Solution Market, By
Region
Continued…
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List of Tables
Table 1 Global Employee Monitoring Solution Market, By Region,
2017–2023
Table 2 North America: Employee Monitoring Solution Market, By
Country, 2017–2023
Table 3 Europe: Employee Monitoring Solution Market, By Country,
2017–2023
Continued…
List of Figures
Figure 1 Global Employee Monitoring Solution Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of The Global Employee
Monitoring Solution Market
Continued…
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