Global Employee Monitoring Solution Monitoring Market – Industry Trends and Forecast to 2029

Employee Monitoring Solution Monitoring Market Analysis and Size

Employee monitoring solutions are gaining popularity and momentum all across the globe. COVID-19, which promoted the work from home culture, boosted the adoption rate of these solutions to keep track of employee activities during their working hours. Very many features offered by these solutions such as operational flexibility and software configured security and privacy, will work in the favor. 

Global employee monitoring solution monitoring market was valued at USD 1119.86 million in 2021 and is expected to reach USD 4175.27 million by 2029, registering a CAGR of 17.88% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Employee Monitoring Solution Monitoring Market Scope and Segmentation

Market Definition

Employee monitoring solution is an advanced IT system that facilitates the management of employees and monitoring their activities and performance. The employee monitoring solutions can also be used for training, staffing and employee performance development purposes. Employee monitoring solutions enable keeping an eye on the engagement of employees at the workplaces.

Employee Monitoring Solution Monitoring Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Numerous benefits offered by the solutions

The employee monitoring solutions showcases a number of highlights such as tracking the employees’ overall performance to improve the productivity and ensure security. Other key features such as monitoring keystroke logging, smart rules and alerts, live views, access chats and file transfer tracking are some other factors promoting their adoption rate globally. Effective feedbacks can also be provided using employee monitoring solutions.

• Increased focus on achieving organizational efficiency

Rising number of small and medium scale enterprises especially in the developing economies is directly promoting the growth rate of the market. Moreover, increased focus of all scales of organizations towards improving the organizational efficiency by improving the employee retention rate and employee performance quotient will bolster the growth rate of the market in the upward direction.

Furthermore, the factors such as rising urbanization, industrialization and mounting usage of employee monitoring solutions by businesses in the retail industry have further contributed to the overall market expansion during the forecast period. Additionally, growing awareness about the user friendly interface of these solutions in combination with rising number of developers in the market are anticipated to drive the growth rate of the market.

Opportunities

• Rising privacy and security concerns

Growing number of data thefts, malware practices, cyber breaches and vulnerability to trade secrets, intellectual property and employee personal data is fostering the adoption rate of employee monitoring solutions. Surging rate of adoption of centralized solutions towards cyber threats and cyber breaches will carve the way for the growth of the market.

• Increasing trend of digitalization

Additionally, the increasing trend of digitalization further offers numerous growth opportunities within the market. Growing trend of work from home and remote jobs especially in the developed and developing economies will yet again fuel the adoption rate and the market growth rate consequently.

Restraints/Challenges

• High overall cost

High innovation, adoption and deployment costs will challenge the growth rate of the market. Budgetary restraints especially in the small and medium scale enterprises will developed doubts among the management in regards to the adoption, thereby impeding the market growth rate. Moreover, developing comprehensive security solutions requires a good investment which in turn may obstruct the market growth rate.

• Lack of technical expertise

Dearth of expert knowledge and technical expertise especially in the developed and developing economies will create hurdles for the market in regards to the smooth growth in the market value. Further, lack of skilled professionals in combination with low experience quotient will yet again hamper the market growth rate.

This employee monitoring solution monitoring market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the employee monitoring solution monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Employee Monitoring Solution Monitoring Market

The COVID-19 pandemic has benefited the expansion of the market and the post-pandemic period will continue to push forward the market growth rate. One of the biggest factors for this push is the rising adoption of work from home arrangement and growing number of remote jobs globally. Further, surging rate of digitization, also a result of pandemic, has been a strong foundational factor for the improved adoption rate by businesses across a number of domains. Rising deployment of staff monitoring solutions and the eternal aim of improving the employee productivity at workplaces has yet again propelled the market growth rate.

Recent Developments

• A reputable business called "Keeper Security Inc." announced the introduction of its staff monitoring programme, dubbed "round-the-clock dark web surveillance," in July 2019. This solution will assist businesses in protecting their staff members from online threats. Businesses benefit from the software's ability to monitor employee internet usage and searches.
• Aware announced financing of US$60 MN in a series in October 2021 to support product development, sales activities, and employment. Aware is a leading provider of employee behaviour platform analyzers for chat platforms like Slack. The major investors in the funding round were Spring Mountain Capital, Goldman Sachs Growth Equity, Allos Ventures, Blue Heron Capital, Ohio Innovation Fund, Rev1 Ventures, and JobsOhio.

Employee Monitoring Solution Monitoring Market Scope

The employee monitoring solution monitoring market is segmented on the basis of component, solution, enterprise size, application and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Software

            Cloud

            On-Premise

• Professional Service

Solution

• Standalone
•  Productivity Suite
• Attendance Tracking
• Employee Tracking
• Activity Tracking
• Product Supervision and Management
• Surveillance Suite
• Integrated

Enterprise Size

• Small and Medium Enterprises
• Large Enterprises

Application

• System Monitoring
• File Monitoring
• Network Monitoring

Industry

• BFSI
• Education
• Government and Defense
• Hospitality, Healthcare and Life Sciences
• Legal
• Manufacturing
• Retail
• Telecom and IT
• Energy and Utilities
• Others

Employee Monitoring Solution Monitoring Market Regional Analysis/Insights

The employee monitoring solution monitoring market is analyzed and market size insights and trends are provided by country, component, solution, enterprise size, application and industry as referenced above.

The countries covered in the employee monitoring solution monitoring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the employee monitoring solution monitoring market due to the presence of major players in this region. Prevalence of advanced infrastructure and rising number of new market entrants are other important factors determining the dominance of this region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising adoption of employee monitoring solutions by the small and medium scale enterprises. Moreover, escalating IT infrastructure in the region will yet again bolster the growth of the market in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Employee Monitoring Solution Monitoring Market Share Analysis

The employee monitoring solution monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to employee monitoring solution monitoring market.

Some of the major players operating in the employee monitoring solution monitoring market are

• InterGuard (U.S.)
• ActivTrak (U.S.)
• FairTrak (India)
• IMonitor Software (U.S.)
• Micro Focus (U.K.)
• Splunk Inc. (U.S.)
• WorkForce Software, LLC, (U.S.)
• Workday, Inc, (U.S.)
• Verint Systems Inc., (U.S)
• dormakaba Group, (Switzerland)
• Rapid7 (U.S.)
• Forcepoint (U.S.)
• Securonix (U.S.)
• ObserveIT (U.S.)
• Imperva (U.S.)
• One Identity LLC (U.S.)
• LogRhythm, Inc. (U.S.)
• SolarWinds Worldwide, LLC (Canada)
• Teramind Inc. (U.S.)
• Veriato Inc. (U.S.)

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