The latest report by IMARC Group, titled “Employee Engagement Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global employee engagement software market size reached US$ 826.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,825 Million by 2028, exhibiting a growth rate (CAGR) of 14.37% during 2023-2028. 

Employee engagement software is a specialized type of human resources (HR) tool designed to enhance and measure the level of attention and satisfaction among employees within an organization. It is a comprehensive medium that allows organizations to improve communication and productivity, create a positive work environment, and foster a strong sense of commitment and loyalty among their workforces. It typically consists of several features that cater to different aspects of employee engagement. It conducts surveys and collects feedback from employees focusing on various aspects of their work experience, including job satisfaction, work-life balance, career growth opportunities, and overall organizational culture. It gathers such insights for employers to identify areas of improvement and implement targeted strategies to address any issues. It includes tools for recognition and rewards which allows managers and peers to acknowledge and appreciate employees' efforts and accomplishments, which can significantly impact motivation and morale. Additionally, it provides performance management features, enabling managers to set goals, provide regular feedback, and track employee progress by aligning individual objectives with organizational goals, employees feel more invested in their work and understand the value they bring to the company. It also integrates with other HR systems, such as payroll and talent management software, to provide a seamless employee experience.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/employee-engagement-software-market/requestsample

Employee Engagement Software Market Trends and Drivers:

The employee engagement software market is primarily driven by the shift toward remote and hybrid work models. In addition, employee engagement software provides a solution to bridge the physical distance and keep remote employees connected, motivated, and aligned with the company's vision and values, thus influencing market growth. Moreover, with the incorporation of gamification elements into the platform, such as rewards, challenges, and leaderboards, the software transforms mundane tasks into engaging activities that encourage participation and healthy competition among employees representing another major growth-inducing factor. Besides this, gamified approach improves engagement and nurtures a sense of camaraderie and fun within the workforce, resulting in job satisfaction and overall morale. Along with this, the growing emphasis on employee well-being and work-life balance led businesses to invest in tools with features such as sentiment analysis and wellness tracking that help employers understand employee needs, leading to the implementation of employee-centric policies and initiatives, thus propelling market growth. Apart from this, the incorporation of data analytics and artificial intelligence is transforming the employee engagement software market with advanced analytics capabilities that offer valuable insights into employee behavior, preferences, and patterns, enabling organizations to make data-driven decisions to enhance engagement strategies, thus augmenting market growth. Furthermore, the growing need for enhanced employee productivity led to the widespread adoption of employee engagement software, providing organizations with the means to track and measure employee engagement levels and implement strategies that drive higher productivity, thus creating a positive market outlook.

Report 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

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

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

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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