The HR analytics market is likely to grow immensely, at a CAGR of 12.4%. Physical health apps are gaining popularity. They are inclusive of calorie trackers, step-counters, and exercise and nutrition-based apps. These apps are to be at the forefront with regards to capitalizing on those having chronic ailments like high blood pressure, heart diseases, or diabetes. This would be a significant arm of the healthcare industry.
As per the study by PMR, the HR analytics market is projected to reach US$ 9 Bn by 2032 from US$ 2.8 Bn in 2022. The market is likely to grow at a high CAGR of 12.4%.
The increased need for organizations to improve efficiency and lower operational costs is projected to drive demand for HR analytics in a variety of industries. It enables the company to encourage labour optimization and provide benchmarks for improving overall workforce performance. It can evaluate and retrieve large amounts of unstructured data in real-time in order to make business decisions on human resource use, which is critical for the growth of the analytics market.
