Global Employee Engagement Software Business Analysis Report 2024: Market to Reach $1.3 Billion by 2030 - Growing Use of AI and Machine Learning drives Adoption - ResearchAndMarkets.com

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DUBLIN--(BUSINESS WIRE)--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/11sol5

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First published on Fri, Aug 2, 2024

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Tags:

Employee Engagement Software HR Tech Workforce Productivity Remote Work Employee Experience Performance Management Analytics AI Machine Learning Employee Turnover Communication Collaboration Feedback Wellbeing Diversity Inclusion Mobile Engagement

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Global Employee Engagement Software Business Analysis Report 2024: Market to Reach $1.3 Billion by 2030 - Growing Use of AI and Machine Learning drives Adoption - ResearchAndMarkets.com

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