According to the latest report by IMARC Group, titled, “Employee Engagement Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global employee engagement software market share, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the employee engagement software market?

What is employee engagement software?

Employee engagement software is a technological platform that aims to enhance and optimize the employee experience within an organization. It offers a comprehensive range of functions and features, including surveys, feedback mechanisms, performance management tools, collaboration platforms, training modules, recognition and rewards systems, onboarding processes, analytics capabilities, and reporting functionalities. Employee engagement software is commonly utilized by HR professionals, managers, executives, team leaders, and consultants to measure, monitor, and analyze employee engagement levels. It enables organizations to identify areas for improvement and develop adequate strategies to enhance employee satisfaction, productivity, and retention. Employee engagement software even helps improve communication channels, strengthen recognition programs, support employee development, and ensure data-driven decision-making. Consequently, it finds widespread applications across various sectors, including retail, telecommunications, healthcare, information technology (IT), hospitality, manufacturing, banking, etc.

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What are the growth prospects and trends in the employee engagement software industry?

The employee engagement software market is primarily driven the rising digital transformation in workplaces and the elevating need for an efficient digital tool that streamlines administrative tasks, reduces manual labor, boosts productivity, improves operational efficiency, and automates processes such as data collection, survey distribution, performance evaluations, and recognition programs. Additionally, the increasing adoption of the software to facilitate virtual communication, collaboration, and engagement among remote teams in the work-from-home culture is further catalyzing the market growth. Besides this, the expanding usage of cloud-based employee engagement software that facilitates cost-effectiveness, enhanced security, easy accessibility, scalability, automatic updates, and data recovery is acting as another significant growth-inducing factor. Moreover, the growing incorporation of gamification elements into employee engagement software, such as points, badges, and leaderboards to foster healthy competition, increases engagement, and incentivize desired behavior and contributions, is also positively influencing the global market. Apart from this, the escalating integration of artificial intelligence (AI) in employee engagement software to provide valuable insights into employee data, analyzes trends, predict engagement levels, and supports data-driven decision-making are expected to bolster the employee engagement software market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Deployment Mode Insights:

• Cloud-Based
• On-premises

Enterprise Size Insights:

• Large Enterprises
• Small and Medium Enterprises

Function Insights:

• Onboarding
• Training
• Collaboration and Interaction
• Customer Service
• Rewards and Recognitions
• Others

Industry Insights:

• Retail
• BFSI
• Government
• Healthcare
• IT and Telecom
• Hospitality
• Manufacturing
• Others

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• 15five Inc.
• Bitrix24
• Culture Amp Pty Ltd.
• Lattice, Leapsome GmbH
• Quantum Workplace
• Salesforce Inc.
• Transcend Engagement LLC
• Vantage Circle
• Workvivo Limited
• Xoxoday Emplus, etc.

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