Employee Monitoring Solution Industry leads with CAGR of 7.1% from 2022 to 2027

Posted by Sagar Pawar on September 30th, 2022

According to the new research report published by The Insight Partners, titled “Employee Monitoring Solution Market — Global Analysis and Forecast to 2027”, the global employee monitoring solution market is expected to reach US$ 1.32 Bn in 2027, registering a CAGR of 7.1% during the forecast period 2019-2027.

In addition to this, currently, the Gulf countries are on the verge of adopting transformative digital technologies. The region is an aspiring adopter of technology, social media, digital media, and online entertainment. At present, many countries in the Middle East and African region are recognizing the potentials of implementing ICT technologies in the various end-user industries in a bid to improve the socio-economic climate of the country. For instance, Kuwait has taken up several initiatives for the development of e-health and e-government. Also, Saudi Arabia has been a quick adopter of electronic filing and digital payment systems, realizing the potentials of a digital economy.

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The companies of all sizes are focusing on adopting the employee monitoring solutions to gain greater visibility of their firms and drive operational efficiencies. The growing business competitiveness has aided the growth in the deployment of employee monitoring solutions as various companies are focusing on increasing their productivity and achieving an effective return on investment (RoI). Also, the players operating in the employee monitoring solution market are highly focused on offering advanced solutions to gain a strong market position and generate more revenues.

Bahrain, Qatar, and Iran are other few Gulf countries that are leading the charge in digital disruption in the region. Various economies in the region are focusing on attracting FDI to diversify their economy and reduce their dependence on the oil sector. For Instance, on May 20, 2018, the UAE Council of Ministers granted foreign investors to own100% of their companies and also made several investors and professionals with expertise in several fields eligible for a ten-year resident permit. The intense focus on attracting FDI would result in the growth of various industries, which might aid the growing demand for employee monitoring solutions in the region. Companies such as Ekran Systems, DataResolve Technologies (P) Ltd, IS Decisions are focusing on offering employee monitoring solutions in the region to gain a strong customer base.

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