The global employee monitoring solution market was valued US$ 724.81 Mn in 2018 and is expected to reach US$ 1,322.42 Mn by 2027 with a CAGR growth rate of 7.1% in the forecast period from 2019 to 2027.
The global employee monitoring solution market is heavily fragmented due to the presence of a significant number of companies operating in the market. Furthermore, the strong presence of regional market players with limited geographic focus and notable customer based within the local market has further boosted the overall competitiveness existing in the market. Presently, a significant number of market players operating in the global employee monitoring solution market that offers numerous subscription-based employee monitoring solutions to different industry verticals. However, the market does include a selected number of players with a considerable globally leading customer base and strong brand recognition at the global level. The Middle East & Africa employee monitoring solution market is expeted to witness an CAGR growth rate of 7.5% from 2019 to 2027.
Employee Monitoring Solution Market – By Region
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Employee Monitoring Solution Market Insights
Employee Monitoring Solution Market Insights
Versatile benefits offered by employee monitoring solution
Employee monitoring solutions empower enterprises to track employees and gather other information to drive productivity and ensure security. The employee monitoring solutions provide various features such as activity analysis, smart rules and alerts, live views, monitoring keystroke logging, and file transfer tracking, among others. In the current market scenario, customers are becoming price-sensitive and are the focus on the timely delivery of products and services. Thus, to improve productivity and gain better visibility of the organization, companies are adopting employee monitoring solutions. Also, effective employee monitoring provides the employee the access to a more flexible working environment. Also, the employee monitoring solutions enables the managers to give the employees with effective feedback, as the manager can provide real tangible examples and area of improvement. Thus, driving the growth of the employee monitoring solution market during the coming years.
Mitigation of inside threats and prevention of enterprise resource exploitation
Employee monitoring solutions are also used as a surveillance tool by organizations to track- employee email, phone activity, browsing history, and time spent on social media, overall internet activity, and remote device access. Companies related to BFSI, IT, and telecom, the Government sector are more exposed to the risk of insider attacks as they handle sensitive data such as trade secrets, IP, customer and employee data, and more. The financial services industry has the highest exposure to a cyber-breach and insider misuse, followed by the consumer, retail and wholesale, consumer, retail and wholesale, and power and utilities. Thus organizations adopt employee monitoring solutions to gain early signs of insider threats and avoid the data leaks. Thus, developing technologies offer promise in recovering waste heat more efficiently rather than traditional.
Employee Monitoring Solution Market – Offering Insights
The global employee monitoring solution market, by offering, has been segmented into solutions and services. The growing focus of the organizations toward driving efficiencies of workforce and increasing demand for better management of the same is a primary factor driving the growth of the employee monitoring solution market. Several enterprises around the globe have implemented employee monitoring solutions, while the remaining are planning to implement the same in the coming years.
Employee Monitoring Solution Market – Enterprise Size Insights
During recent years, organizations have shifted their focus toward increasing the efficiency and reducing the overall costs. The employee monitoring solution market, by enterprise size, has been segmented into SMEs and large enterprises. SMEs are primarily investing in employee monitoring solutions to track employees and maximize the ROI. However, for a large organization, it is difficult to manage a large number of employees; therefore, to gain better visibility into their organizations, they adopt employee monitoring solutions. Also, various enterprises are opting for employee monitoring solutions to ensure safety and avoid unauthorized access to information by employees.
Employee Monitoring Solution Market – Indusry Vertical Insights
The global employee monitoring solution market based on vertical has been segmented into BFSI (i.e., banking, financial services, and insurance), government, retail, manufacturing, IT, and others. The competition across industries is increasing, and the client’s requirements are becoming complex. Also, to gain a strong market position, various companies are focusing on reducing the cost of solutions. Thus, to drive efficiency and reduce overall cost, the companies are adopting employee monitoring solutions. Moreover, companies related to BFSI and government sectors handle a large amount of privileged data, which exposes these enterprises to the risk of insider attacks. Concerns to protect customer information has compelled the European Union to develop new laws, which need companies to execute more enhanced security to maintain the privacy of consumer information.
Rest of Asia Pacific Employee Monitoring Solution Market by Industry Vertical
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Employee Monitoring Solution Market -
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Employee Monitoring Solution Market: Strategic Insights
Employee Monitoring Solution Market
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CAGR (2018 - 2027)
7.1%
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Market Size 2018
US$ 724.81 Million
-
Market Size 2027
US$ 1,322.42 Million
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Awareness Technologies Inc.
- Birch Grove Software, Inc.
- EfficientLab, LLC
- FairTrak
- iMonitor Software, Inc.
- Netsoft Holdings, LLC (Hubstaff)
- Atom Security Inc. (StaffCop)
- SentryPC
- Teramind, Inc.
- Veriato. Inc.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Offering
- Solution
- Service
Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Industry Vertical
- BFSI
- Government
- IT & Telecom
- Manufacturing
- Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Employee Monitoring Solution Market: Strategic Insights
-
CAGR (2018 - 2027)7.1% -
Market Size 2018
US$ 724.81 Million -
Market Size 2027
US$ 1,322.42 Million
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
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- XXXXXXX
Key Players
- Awareness Technologies Inc.
- Birch Grove Software, Inc.
- EfficientLab, LLC
- FairTrak
- iMonitor Software, Inc.
- Netsoft Holdings, LLC (Hubstaff)
- Atom Security Inc. (StaffCop)
- SentryPC
- Teramind, Inc.
- Veriato. Inc.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Solution
- Service
- Small & Medium Enterprise
- Large Enterprise
- BFSI
- Government
- IT & Telecom
- Manufacturing
- Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Some of the market initiatives were observed to be most adopted strategy in the global employee monitoring solution market. Few of the recent market initiatives adopted by the market players operating in the employee monitoring solution market are listed below:
2019:EfficientLab LLC. (Work Examiner) Company announced its new solution version 3.9 (build 449), a cloud-based and on-premise solutions for all of their products such as controlio, standard, and professional editions. The version of Work examiner standard and professional editions are limited to 5 clients and 30 days.
2019:StaffCop released a new version of its software, StaffCop Enterprise 4.5. The new version has added features such as organize access to files for several users, along with blocking websites, USB drives, and applications.
2019:StaffCop teamed-up with a Ghana-based IT solution provider, NETWATCH Technologies. The strategic partnership is aimed at offering information security services to customers’ in Ghana.
GLOBAL EMPLOYEE MONITORING SOLUTION MARKET SEGMENTATION
Global Employee Monitoring Solution Market – By Offering
- Solution
- Service
Global Employee Monitoring Solution Market – By Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global Employee Monitoring Solution Market – By Industry Vertical
- BFSI
- Government
- IT & Telecom
- Manufacturing
- Retail
- Others
Global Employee Monitoring Solution Market – By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Rest of Europe
Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
South America
- Brazil
- Argentina
- Rest of South America
Global Employee Monitoring Solution Market - Company Profiles
- Awareness Technologies Inc.
- Birch Grove Software, Inc.
- EfficientLab, LLC
- FairTrak
- iMonitor Software, Inc.
- Netsoft Holdings, LLC (Hubstaff)
- Atom Security Inc. (StaffCop)
- SentryPC
- Teramind, Inc.
- Veriato. Inc.
Employee Monitoring Solution Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2018 | US$ 724.81 Million |
Market Size by 2027 | US$ 1,322.42 Million |
Global CAGR (2018 - 2027) | 7.1% |
Historical Data | 2016-2017 |
Forecast period | 2019-2027 |
Segments Covered |
By Offering
|
Regions and Countries Covered |
North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering , Enterprise Size , Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The List of Companies
- Awareness Technologies Inc.
- Birch Grove Software, Inc.
- EfficientLab, LLC
- FairTrak
- iMonitor Software, Inc.
- Netsoft Holdings, LLC (Hubstaff)
- Atom Security Inc. (StaffCop)
- SentryPC
- Teramind, Inc.
- Veriato. Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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